177
(in millions of Euro)
31 December 2013 31 December 2012
1 to 30 days past due
83
114
31 to 90 days past due
54
45
91 to 180 days past due
27
23
181 to 365 days past due
28
17
More than 365 days past due
40
43
Total
232
242
Trade receivables
During July 2013, the Prysmian Group ended the securitization
programme that had covered a significant portion of its
trade receivables. Under this programme, started in 2007 in
accordance with the procedures described in Section B.2.Basis
of consolidation, the Group used to recognise securitized
receivables in its consolidated financial statements until such
time as they were effectively collected. Securitized receivables
amounted to Euro 155 million gross at 31 December 2012, but
had no impact at 31 December 2013 because the programme
had come to an end.
The gross amount of past due receivables that are totally or
partially impaired is Euro 232 million at 31 December 2013
(Euro 242 million at 31 December 2012).
The value of trade receivables past due but not impaired is
Euro 66 million at 31 December 2013 (Euro 127 million at 31
December 2012). These receivables mainly relate to customers
in the Energy segment, which have been insured against the
risk of any bad debts arising from effective or legal customer
insolvency.
The value of trade receivables not past due is Euro 771 million
at 31 December 2013 (Euro 857 million at 31 December 2012).
There are no particular problems with the quality of these
receivables and there are no material amounts that would
otherwise be past due if their original due dates had not been
renegotiated.
The ageing of past due impaired receivables is as follows:
The ageing of receivables that are past due but not impaired is as follows:
(in millions of Euro)
31 December 2013 31 December 2012
1 to 30 days past due
44
104
31 to 90 days past due
9
11
91 to 180 days past due
8
3
181 to 365 days past due
4
6
More than 365 days past due
1
3
Total
66
127
