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PRYSMIAN GROUP | CONTENTS
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GROUP ANNUAL REPORT
DIRECTORS’ REPORT
................................................................................................................ 10
Directors and auditors................................................................................................................... 11
Financial highlights ....................................................................................................................... 12
Prysmian Group............................................................................................................................ 15
Prysmian and the financial markets .............................................................................................. 34
Significant events during the year ................................................................................................. 43
Reference scenario....................................................................................................................... 51
Group performance and results..................................................................................................... 54
Review of
Energy Projects
Operating Segment ............................................................................ 57
Review of
Energy Products
Operating Segment ........................................................................... 61
Review of
Telecom
Operating Segment........................................................................................ 67
Group statement of financial position ............................................................................................ 72
Alternative performance indicators................................................................................................ 79
The internal control and risk management system ........................................................................ 85
A sustainable approach to managing the business ..................................................................... 102
Incentive plans............................................................................................................................ 135
Significant events after the reporting period ................................................................................ 136
Business outlook......................................................................................................................... 137
Other information ........................................................................................................................ 138
Certification pursuant to art. 2.6.2 of the italian stockmarket regulations regarding the conditions
contained in art. 36 of the market regulations.............................................................................. 139
CONSOLIDATED FINANCIAL REPORT
................................................................................... 140
Consolidated statetement of fiancial position .............................................................................. 141
Consolidated income statement .................................................................................................. 142
Consolidated statement of comprehensive income ..................................................................... 143
Consolidated statement of changes in equity .............................................................................. 144
Consolidated statement of cash flows ......................................................................................... 145