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EXPLANATORY NOTES
300
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
Directors’ compensation amounts to Euro 11,503 thousand in
2013, and Euro 11,854 thousand in 2012. Statutory auditors’
compensation for duties performed in Prysmian S.p.A.
amounts to Euro 175 thousand in 2013 (Euro 47 thousand
in 2012). Compensation includes emoluments, and any
The Credit Agreement 2010 and Credit Agreement 2011, details
of which are presented in Note 10. Borrowings from banks
and other lenders, require the Group to comply with a series
of covenants on a consolidated basis. The main covenants,
classified by type, are listed below:
other types of remuneration, pension and medical benefits,
received for their service as directors or statutory auditors
of Prysmian S.p.A.. Further details can be found in the
Remuneration Report.
a) Financial covenants
• Ratio between EBITDA and Net finance costs (as defined in
the Credit Agreements)
• Ratio between Net Financial Position and EBITDA (as
defined in the Credit Agreements)
The Statement of financial position and the Net financial position contain no material amounts in connection with non-recurring
events.
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 the year.
27.
COMPENSATION OF DIRECTORS AND STATUTORY AUDITORS
28. ATYPICAL OR UNUSUAL TRANSACTIONS
29. GROUP FINANCIAL COVENANTS
