CONSOLIDATED FINANCIAL STATEMENTS >
EXPLANATORY NOTES
184
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
10.
ASSETS HELD FOR SALE
These are detailed as follows:
Movements in assets held for sale are detailed as follows:
The change in assets held for sale mainly refers to:
• the sale of the land and buildings of the St. Jean plant in
Canada, reclassified to this line item in the second quarter
of 2013, for Euro 3 million;
• the reclassification of Euro 2 million for a plot of land
located in Nuremberg (Germany), for which a sale
agreement has already been signed;
• the reclassification of Euro 3 million for the Eschweiler site
in Germany, for which a sale agreement has already been
signed;
• the reclassification of Euro 3 million for the building in
Derby (United Kingdom), expected to be sold soon.
Management expects the assets classified in this line item to
be sold within the next 12 months.
Assets held for sale are classified as Level 3 in the fair value
hierarchy.
(in millions of Euro)
31 December 2013 31 December 2012
Land
6
4
Buildings
6
-
Total
12
4
(in millions of Euro)
31 December 2013 31 December 2012
Opening balance
4
5
- Disposals
(3)
(3)
- Reclassification
11
2
Total movements
8
(1)
Closing balance
12
4
11.
SHARE CAPITAL AND RESERVES
Consolidated equity has recorded an increase of Euro 36
million since 31 December 2012, mainly reflecting the net
effect of:
• the increase associated with the recognition of Euro 39
million for the equity component of the convertible Bond;
• negative currency translation differences of Euro 97 million;
• the release of Euro 10 million, net of tax, in gains from the
cash flow hedge reserve as a result of discontinuing cash
flow hedging, following early repayment of the Term Loan
Facility 2010;
• the positive change of Euro 14 million in the share-based
compensation reserve linked to the stock option plan;
• the positive change of Euro 1 million in the reserve for
actuarial gains on employee benefits;
• the positive post-tax change of Euro 5 million in the fair
value of derivatives designated as cash flow hedges;
• net profit for the year of Euro 154 million;
• the dividend distribution of Euro 92 million;
• capital increases carried out by non-controlling interests in
subsidiary companies, with an impact of Euro 2 million.
At 31 December 2013, the share capital of Prysmian S.p.A.
comprises 214,591,710 shares with a total value of Euro
21,459,171.
