2014 that demand for medium voltage cables for utilities
will continue to slow, and that building wires and products in
the Industrial business most exposed to cyclical trends will
make a gradual recovery over the course of coming quarters.
It also confirms the positive trend in demand in the high
value-added businesses of power transmission and offshore
Oil&Gas, as well as the steady recovery of demand for optical
fibre cables from the record lows reported in 2013.
During 2014 the Prysmian Group will continue to integrate and
rationalise activities with the goal of achieving the projected
cost synergies and of further strengthening its presence in all
its areas of business.
Lastly, it is conceivable that negative exchange rate effects,
affecting Adjusted EBITDA by approximately Euro 23 million
in 2013, will persist in 2014 due to the translation effect of
subsidiary company profits, expressed in currencies other
than the Euro, into the Group’s reporting currency.
Related party transactions
Related party transactions do not qualify as either atypical or
unusual but fall into the normal course of business by Group
companies. Such transactions take place under market terms
and conditions, according to the type of goods and services
provided.
Information about related party transactions, including
that required by the Consob Communication dated 28 July
2006, is presented in Note 33 to the Consolidated Financial
Statements at 31 December 2013.
Atypical and/or unusual transactions
In accordance with the disclosures required by Consob
Communication DEM/6064293 dated 28 July 2006, it is
reported that no atypical and/or unusual transactions took
place during 2013.
Secondary offices and key corporate information
The list of secondary offices and key corporate information
of the legal entities making up the Group can be found in
Appendix A of the Explanatory Notes to the Consolidated
Financial Statements.
Financial risk management
The management of financial risks is discussed in the
Explanatory Notes to the Consolidated Financial Statements,
in Section D. Financial risk management.
OTHER INFORMATION
