CONSOLIDATED FINANCIAL STATEMENTS >
DIRECTORS’ REPORT
74
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
(in millions of Euro)
Note
2013
2012
Amounts from
Amounts from
income statement
income statement
Sales
A
7,273
7,848
Change in inventories of work in progress, semi-finished
and finished goods
26
(31)
Other income
65
71
Raw materials, consumables used and goods for resale
(4,571)
(5,083)
Personnel costs
(965)
(1,041)
Other expenses
(1,280)
(1,228)
Operating costs
B
(6,725)
(7,312)
Remeasurement of minority put option liability
C
-
(7)
Fair value stock options
C
14
17
EBITDA
D = A+B+C
562
546
Non-recurring other income
E
10
15
Non-recurring personnel costs
F
(34)
(65)
Non-recurring other expenses
G
(26)
(51)
Adjusted EBITDA
H = D-E-F-G
612
647
(in millions of Euro)
Note
2013
2012
Amounts from
Amounts from
income statement
income statement
Operating income
A
360
362
Non-recurring other income
10
15
Non-recurring personnel costs
(34)
(65)
Non-recurring other expenses
(26)
(51)
Total non-recurring expenses
B
(50)
(101)
Remeasurement of minority put option liability
C
-
7
Fair value change in metal derivatives
D
(8)
14
Fair value stock options
E
(14)
(17)
Non-recurring impairment
F
(25)
(24)
Adjusted operating income
G=A-B-C-D-E-F
457
483
Reconciliation between the principal income statement indicators and the Income Statement contained in the Consolidated
Financial Statements and Explanatory Notes at 31 December 2013
