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CONSOLIDATED FINANCIAL REPORT | EXPLANATORY NOTES
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1. PROPERTY, PLANT AND EQUIPMENT
Details of this line item and related movements are as follows:
(*)
The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS
11.
Gross capital expenditure on property, plant and equipment came to Euro 204 million in 2015.
This expenditure in 2015 can be analysed as follows:
Euro 92 million, or 45% of the total, for projects to increase and technologically upgrade production
capacity and develop new products. In particular, these projects have concerned the plants in
Pikkala (Finland) and Arco Felice (Italy) to assure production capacity for the Submarine business,
the plants in Abbeville (United States) and Slatina (Romania) to meet growing demand for medium
and high voltage cables in their respective markets, the plant in Kistelek (Hungary) with regard to the
supply of low voltage cables to Central European markets and the plant in Suzhou (China) to expand
the product range;
•
Euro 64 million, or 31% of the total, for multiple projects to improve industrial efficiency and
rationalise production capacity. Such projects have particularly concerned the plant in Battipaglia
(Italy), involving not only completion of the trigeneration system, intended to generate electricity and
reuse exhaust gases for air conditioning with a consequent significant saving in energy costs, but