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CONSOLIDATED FINANCIAL REPORT | EXPLANATORY NOTES
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EXPLANATORY NOTES
A. GENERAL INFORMATION
Prysmian S.p.A. ("the Company") is a company incorporated and domiciled in Italy and organised under the
laws of the Republic of Italy.
The Company has its registered office in Viale Sarca, 222 - Milan (Italy).
Prysmian S.p.A. was floated on the Italian Stock Exchange on 3 May 2007 and since September 2007 has
been included in the FTSE MIB index, comprising the top 40 Italian companies by capitalisation and stock
liquidity.
The Company and its subsidiaries (together "the Group" or "Prysmian Group") produce, distribute and sell,
across the globe, cables and systems and related accessories for the energy and telecommunications
industries.
A.1 SIGNIFICANT EVENTS IN 2015
Mergers & Acquisitions
Acquisition of Gulf Coast Downhole Technologies (GCDT)
The Prysmian Group signed an agreement on 24 September 2015 to acquire 100% of Gulf Coast Downhole
Technologies (GCDT), a privately-owned US company, for an initial consideration, subject to adjustment, of
approximately USD 45 million. There is also an earn-out determined on an average combined EBITDA in the
next three years, with the maximum pay-out capped at about USD 21 million.
Based in Houston, GCDT is active in the design and supply of innovative downhole equipment for the Oil &
Gas industry, with turnover of approximately USD 34 million in 2014. GCDT products are installed in oil and
gas wells around the world and consist of integral components in the systems that provide downhole control,
injection, flow assurance and monitoring. GCDT's customer base covers a wide range of oil and gas field
service companies; GCDT products are installed in facilities operated around the globe by major oil and gas
producers like Chevron, ExxonMobil and Shell.
GCDT is a perfect fit for the Group's expansion strategy in the business of Subsea Umbilicals, Risers and
Flowlines (SURF) and complements its Draka-branded DHT product range.
The closing transaction was completed on 1 October 2015, meaning that the accounting effects have been
reflected as from that date.
Further information can be found in Section E. Business combinations.