Change in segment reporting

Milan, 23 January 2015. Today, the Board of Directors of Prysmian S.p.A has resolved upon the adoption of the New Segment Reporting Structure that will be reflected on the segment information starting from the disclosure of the full year 2014 results.

Effective from the beginning of 2014, Prysmian has implemented a new organizational structure with the goal of stimulating growth, better addressing customer requirements, innovating services and products, drawing sharply toward the project and its execution in the high value-added project business.

According to the new structure, the Energy Sector was split in two Operating Segments: Energy Projects and Energy Products. The structure of the Telecom Operating Segment has remained unchanged.

The Energy Projects Operating Segment includes high-tech and high value-added businesses where the focus is on the project and its execution, as well as on product customization, which are: terrestrial High Voltage, Submarine and SURF (grouping umbilical cables, flexible pipes and down-hole technology cables).

The Energy Products Operating Segment includes businesses characterised by the ability to offer a comprehensive and innovative product portfolio that can satisfy the most diverse market demands, which are: Energy & Infrastructure (including Trade & Installers and Power Distribution) and Industrial & Network Components (including Specialties & OEM, Oil & Gas, Elevators, Automotive and Network Components).

Under the Group’s new organization, these Operating Segments (Energy Projects, Energy Products and Telecom) reflect the elements of the Group that are regularly reviewed by the Group’s Chief Executive Officer to drive strategic decisions, resource allocation and assess performance.

The disclosure of the New Segment Reporting Structure, under IFRS 8, will be implemented with the publication of the full year 2014 results when the reporting system is consistently implemented and reviewed.
 

Related Documents
Press release (pdf)