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Consolidated Financial Report |
DIRECTORS’ REPORT
2014 Annual Report
Prysmian Group
64
2014
2013 (*)
Change %
2012 (*)
Sales
994
986
0.8%
1,202
Adjusted EBITDA before share of net profit/(loss)
of equity-accounted companies
91
87
4.2%
133
% of sales
9.1%
8.8%
11.0%
Adjusted EBITDA
116
106
10.1%
149
% of sales
11.7%
10.8%
12.4%
EBITDA
116
86
31.7%
127
% of sales
11.6%
8.7%
10.5%
Amortisation and depreciation
(42)
(43)
(48)
Adjusted operating income
74
63
19.7%
101
% of sales
7.4%
6.4%
8.4%
Reconciliation of Operating Income / EBITDA to Adjusted Operating Income / Adjusted EBITDA
EBITDA (A)
116
86
31.7%
127
Non-recurring expenses/(income):
Company reorganisation
6
13
16
Draka integration costs
-
-
1
Tax inspections
-
-
2
Effect of YOFC Diluition
(8)
-
-
Gains on asset disposals
-
(1)
-
Other net non-recurring expenses
2
8
3
Total non-recurring expenses/(income) (B)
-
20
22
Adjusted EBITDA (A+B)
116
106
10.1%
149
(*) The previously published prior year comparative figures have been restated following the introduction of IFRS 10 and IFRS 11 and a new method of classifying
the share of net profit (loss) of associates and joint ventures.
As partner to leading telecom operators worldwide, Prysmian
Group produces and manufactures a wide range of cable
systems and connectivity products used in telecommunica-
tion networks. The product portfolio includes optical fibre,
optical cables, connectivity components and accessories and
copper cables.
Optical fibre
Prysmian Group is one of the leading manufacturers of the
core component of every type of optical cable: optical fibre.
The Group is in the unique position of being able to use all
existing manufacturing processes within its plants: MCVD
(Modified Chemical Vapour Deposition), OVD (Outside
Vapour Deposition), VAD (Vapour Axial Deposition) and PCVD
(Plasma-activated Chemical Vapour Deposition). The result
is an optimised product range for different applications.
With centres of excellence in Battipaglia (Italy), Eindhoven
(the Netherlands) and Douvrin (France), and 5 production
sites around the world, Prysmian Group offers a wide range
of optical fibres, designed and manufactured to cater to the
REVIEW OF TELECOM OPERATING SEGMENT
(in millions of Euro)