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The Prysmian Group’s sales in 2013 came to Euro 7,273 million,
compared with Euro 7,848 million in 2012.
Excluding changes in metal prices and exchange rates, organic
growth was negative (-3.1%), analysed between the two
operating segments as follows:
• Energy
- 1.0%;
• Telecom - 12.0%.
The above organic decrease figures exclude for the Telecom
segment, the consolidation of the remaining 50% of Telcon
Fios e Cabos para Telecomuniçaoes S.A. for the period 1
January – 31 March 2013 (because consolidated line-by-
line from 1 April 2012), and for the Energy segment, the
consolidation of the results of Prysmian Powerlink Services
Ltd (formerly Global Marine Systems Energy Ltd) in the period
January - November 2013 (because consolidated from 15
November 2012), as well as the effect of not consolidating the
results of Ravin Cables Limited (India) and Power Plus Cable
CO LLC (Middle East) for the first three months of 2013. It has
been impossible for the Prysmian Group to be able to obtain
reliable, updated financial information about these last two
companies since the second quarter of 2012; as a result, their
figures have been consolidated only up until 31 March 2012.
The Energy segment was adversely impacted by the general
contraction in volumes mainly in the Trade & Installers,
Renewables and Power Distribution businesses, partially
offset by the positive performance of Submarine Cable
projects and certain sectors of the Industrial business. The
Telecom segment confirmed the downward trend in demand
for optical fibre cables in the Americas due, in the United
States, to the ending of government investment incentives
and, in South America, to the waiting period prior to the
release of the new stimulus programme, initially scheduled for
2013 but now likely in 2014.
Group Adjusted EBITDA (before Euro 50 million in net
non-recurring expenses) came to Euro 612 million, posting a
decrease of Euro 35 million on the corresponding figure in 2012
of Euro 647 million (-5.5%).
