CONSOLIDATED FINANCIAL STATEMENTS >
DIRECTORS’ REPORT
58
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
Prysmian Group strengthened its position in South America,
where it managed to increase its market share while keeping
prices at an adequate level thanks to its wide range of
products.
The combined factors described above led to an Adjusted
EBITDA of Euro 72 million in 2013, down from Euro 77 million
(-6.4%) the year before.
INDUSTRIAL
A continuous process of specialisation permits ever greater customisation of products and
solutions.
The extensive product range, developed specifically for the
Industrial market, stands out for the highly customised
nature of the solutions offered. These products serve a
broad range of industries, including Oil&Gas, Transport,
Infrastructure, Mining and Renewable Energy. The Group
offers solutions to the
Oil&Gas
industry for both upstream
hydrocarbon research and refining activities and downstream
exploration and production activities. The product range is
therefore very wide and includes low and medium voltage
power and instrumentation/control cables, as well as
multipurpose umbilical cables for transporting energy,
telecommunications, fluids and chemicals when connecting
submarine sources and collectors to FPSO (Floating,
Production, Storage and Offloading) platforms. In the
Transport
sector, the range of cables offered by Prysmian is
used in the construction of trains, ships and motor vehicles;
in the infrastructure sector, the principal applications for its
cables are found in railways, docks and airports. The product
range also includes cables for the mining industry, the
automotive industry and for elevators, cables for applications
in the renewable energy sector, cables for military
applications and for nuclear power stations, able to withstand
high levels of radiation.
(*) The pro-forma figures are calculated by aggregating the Draka Group’s results for the two-month pre-acquisition period (January-February)
with the consolidated figures.
(in millions of Euro)
2013
2012
% change
% organic
2011 (*)
sales change Pro-forma
Sales to third parties
1,765
1,801
-2.0%
4.1% 1,824
Adjusted EBITDA
134
139
116
% of sales
7.6%
7.7%
6.4%
Adjusted operating income
99
99
79
% of sales
5.6%
5.5%
4.3%
