CONSOLIDATED FINANCIAL STATEMENTS >
EXPLANATORY NOTES
164
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
(in millions of Euro)
2013
Energy Telecom Corporate Group total
Utilities
Trade & Industrial Other
Total
Installers
Sales of goods and services to third parties
(1)
2,224
1,914
1,765 115 6,018 1,255
-
7,273
Adjusted EBITDA (A)
281
72
134
5
492
120
-
612
% of sales
12.6% 3.7% 7.6% 4.3% 8.2% 9.6%
8.4%
EBITDA (B)
291
57
129
(8)
469
100
(7)
562
% of sales
13.1% 3.0% 7.3%
7.8% 8.0%
7.7%
Amortisation and depreciation (C)
(41)
(25)
(35)
(4)
(105)
(50)
-
(155)
Adjusted operating income (A+C)
240
47
99
1
387
70
-
457
% of sales
10.8% 2.4% 5.6%
6.4% 5.6%
6.3%
Fair value change in metal derivatives (D)
(8)
Fair value - stock options (E)
(14)
Impairment of assets (F)
(3)
(6)
(5)
-
(14)
-
(11)
(25)
Remeasurement of minority put option liability (G)
-
Operating income (B+C+D+E+F)
360
% of sales
4.9%
Share of net profit/(loss) of associates
and dividends from other companies
16
(1)
15
Finance costs
(440)
Finance income
287
Taxes
(68)
Net profit/(loss) for the year
154
Attributable to:
Owners of the parent
149
Non-controlling interests
5
RECONCILIATION OF EBITDA TO ADJUSTED EBITDA
EBITDA (A)
291
57
129
(8)
469
100
(7)
562
Non-recurring expenses/(income):
Company reorganisation
4
15
3
11
33
13
4
50
Antitrust investigations
(6)
-
-
-
(6)
-
-
(6)
Gains on asset disposals
(2)
(1)
(1)
-
(4)
(1)
-
(5)
Environmental remediation and other costs
-
1
-
(4)
(3)
-
-
(3)
Other non-recurring expenses
(6)
-
3
6
3
8
3
14
Total non-recurring expenses/(income) (B)
(10)
15
5
13
23
20
7
50
Adjusted EBITDA (A+B)
281
72
134
5
492
120
-
612
G.1
OPERATING SEGMENTS
The following tables present information by operating segment.
(1) The sales of the operating segments and business areas are reported net of intercompany transactions, consistent with the presentation adopted in the
regularly reviewed reports.
