CONSOLIDATED FINANCIAL STATEMENTS >
EXPLANATORY NOTES
166
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
(in millions of Euro)
2012 (*)
Energy Telecom Corporate Group total
Utilities
Trade & Industrial Other
Total
Installers
Sales of goods and services to third parties
(1)
2,287
2,159
1,801 135 6,382 1,466
-
7,848
Adjusted EBITDA (A)
270
77
139
1
487
160
-
647
% of sales
11.8% 3.6%
7.7% 0.6% 7.6% 10.9%
8.2%
EBITDA (B)
265
37
119 (4)
417
138
(9)
546
% of sales
11.6% 1.7% 6.6%
6.5% 9.4%
7.0%
Amortisation and depreciation (C)
(36)
(28)
(40)
(4)
(108)
(56)
-
(164)
Adjusted operating income (A+C)
234
49
99 (3)
379
104
483
% of sales
10.2% 2.3% 5.5%
5.9% 7.1%
6.2%
Fair value change in metal derivatives (D)
14
Fair value - stock options (E)
(17)
Remeasurement of minority put option liability (F)
-
-
-
-
-
-
7
Impairment of assets (G)
(3)
(5)
(15)
-
(23)
(1)
(24)
Operating income (B+C+D+E+F+G)
362
% of sales
4.6%
Share of net profit/(loss) of associates and
dividends from other companies
15
2
17
Finance costs
(395)
Finance income
258
Taxes
(73)
Net profit/(loss) for the year
169
Attributable to:
Owners of the parent
166
Non-controlling interests
3
RECONCILIATION OF EBITDA TO ADJUSTED EBITDA
EBITDA (A)
265
37
119
(4)
417
138
(9)
546
Non-recurring expenses/(income):
Company reorganisation
3
29
16
5
53
16
5
74
Antitrust investigations
1
-
-
-
1
-
-
1
Draka integration costs
-
2
2
-
4
1
4
9
Tax inspections
-
-
-
1
1
2
-
3
Environmental remediation and other costs
-
1
2
-
3
-
-
3
Italian pensions reform
1
-
-
-
1
-
-
1
Other non-recurring expenses
2
8
-
-
10
3
-
13
Gains on asset disposals
(2)
-
-
(1)
(3)
-
-
(3)
Total non-recurring expenses/(income) (B)
5
40
20
5
70
22
9
101
Adjusted EBITDA (A+B)
270
77
139
1
487
160
-
647
(1) The sales of the operating segments and business areas are reported net of intercompany transactions, consistent with the presentation adopted in 2013.
(*) The previously published figures have been amended. Further details can be found in Section C. Restatement of comparative figures at 31 December 2012.
