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EXPLANATORY NOTES
302
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
Pursuant to art. 149-duodecies of the Consob Issuer
Regulations, the following table shows the fees in 2013
and 2012 for audit work and other services provided by the
independent auditors PricewaterhouseCoopers S.p.A. and
companies in the PricewaterhouseCoopers network:
The Group’s research and development activities are mostly
concentrated in Prysmian S.p.A.. The central team, in
coordination with R&D and engineering centres in the various
countries, developed numerous projects over the year in the
field of both energy and telecom cables; significant advances
were made in the area of materials and optical fibre technology.
R&D costs incurred in 2013 and expensed to income amounted
to Euro 16,507 thousand, compared with Euro 19,233 thousand
in 2012.
31.
INFORMATION PURSUANT TO ART.149-DUODECIES OF THE CONSOB
ISSUER REGULATIONS
32. RESEARCH AND DEVELOPMENT
33. EVENTS AFTER THE REPORTING PERIOD
(in thousands of Euro)
Supplier of services
Fees relating to 2013
Fees relating to 2012
Audit services
PricewaterhouseCoopers S.p.A.
1,140
772
Certification services
PricewaterhouseCoopers S.p.A.
(1)
83
103
Other services
PricewaterhouseCoopers S.p.A.
(2)
105
115
Total
1,328
990
(1) Audit support and other services.
(2) Tax and other services.
On 1 February 2014, Prysmian (Dutch) Holdings B.V., a
company owned by the subsidiary Prysmian Cavi e Sistemi
S.r.l., was merged with Draka Holding N.V.. This transaction,
effective 1 January 2014 for accounting purposes, has
increased the interest of Prysmian Cavi e Sistemi S.r.l. in
Draka Holding N.V. to 47.83%, and decreased the interest of
Prysmian S.p.A. in the same subsidiary to 52.17%.
On 5 February 2014, the European Investment Bank (EIB) paid
the Parent Company Prysmian S.p.A the Euro 100 million
loan, intended to fund the Prysmian Group’s European
Research & Development programmes over the period
2013-2016. The loan agreement was signed in December
2013 and will fund about 50% of the planned investment
expenditure by R&D centres in six countries: France, Great
Britain, the Netherlands, Spain, Germany and Italy. The loan
will be repaid in 12 equal half-yearly instalments starting on
5 August 2015 and ending on 5 February 2021.
On 19 February 2014, Prysmian S.p.A signed a loan
agreement for Euro 100 million with Mediobanca - Banca di
Credito Finanziario S.p.A.. The agreement has a five-year
term and is intended to refinance existing debt and working
capital requirements.
On 19 February 2014, the Ansaldo 20 building, located in
Milan, was spun off from the subsidiary Fibre Ottiche Sud
- FOS S.r.l. to Prysmian S.p.A.. This building will undergo
renovations in order to transform it into the Prysmian
Group’s new headquarters.
On 21 February 2014, the Group sent the syndicate of banks
party to the Credit Agreement 2010, a Prepayment Notice
that it would repay early the outstanding loan of Euro 88
million on 28 February 2014.
