13 80
13
Thecapabilitytoexecutethemanyimportant
submarine cable projects in the order book
made a decisive contribution to the increase
in the Group's sales.
High voltage underground sales remained
stable,whileSURF(SubseaUmbilicalsRisers
Flowlines) posted a positive performance,
especially thanks to umbilical sales. Sales
by the Energy Products segment saw a
slight recovery for Trade & Installers and a
good performance for Power Distribution.
The downturn in O&G and Automotive hurt
the overall result of the Industrial cables
business.
Organic sales growth on 2014
Excellent performance by Energy Projects
Solid trend for Telecom
Recovery by Energy Products
Adj. EBITDA €623M
Net profit soars 86.2%
Better-than-expected
Net Financial Position
+5.3%
+15.8%
+9.9%
+1.2%
+22.6%
€214
million
€750
million
Energy Projects
22%
Telecom
15%
Industrial & Network
Components
22%
Other
2%
E&I
38%
SALES 2015 BY BUSINESS AREA
€7,361
million
Execution capability decisive
Lastly, in the Telecom segment the Group
benefited from the continued growth in
demand for optical cables and improved
competitiveness of its products.
Profitability also benefited from recovery in
the performance of theWestern Link project,
but was adversely affected by the effects of
fair value changes in metal derivatives. The
strong upsurge in net profit and marked
improvement in the net financial position
helped generate strong cash flows and
reduce net working capital.