199
(1)
The sales of the operating segments and business areas are reported net
of intercompany transactions, consistent with the presentation adopted in
2012.
(2)
Refers to the higher cost of using finished and semi-finished goods and raw
materials measured at the Draka Group’s acquisition-date fair value.
(*)
The figures reported above include the Draka Group’s results for the period
1 March – 31 December 2011.
(in millions of Euro)
2011
Energy Telecom Corporate
Group total
Utilities
Trade & Industrial Other Total
Installers
Sales of goods and services to third parties
(1)
2,252
2,281
1,608
127 6,268
1,315
-
7,583
Adjusted EBITDA (A)
267
70
106
4
447
121
-
568
% of sales
11.8%
3.0%
6.6%
7.1%
9.1%
7.5%
EBITDA (B)
55
53
80
(2)
186
103
(20)
269
% of sales
2.4%
2.3%
5.0%
- 2.9%
7.7%
3.4%
Amortisation and depreciation (C)
(25)
(36)
(35)
(3)
(99)
(43)
-
(142)
Adjusted operating income (A+C)
242
34
71
1
348
78
426
% of sales
10.7%
1.5%
4.4%
5.5%
5.8%
5.6%
Fair value change in metal derivatives (D)
(62)
Fair value - stock options (E)
(7)
Remeasurement of minority put option liability (F)
-
-
-
-
-
(1)
(1)
Impairment of assets (G)
(17)
(6)
(8)
-
(31)
(7)
(38)
Operating income (B+C+D+E+F+G)
19
% of sales
0.3%
Share of income from investments in associates and dividends
from other companies
7
2
9
Finance costs
(360)
Finance income
231
Taxes
(44)
Net profit/(loss) for the year
(145)
Attributable to:
Owners of the parent
(136)
Non-controlling interests
(9)
Reconciliation of EBITDA to Adjusted EBITDA
EBITDA (A)
55
53
80
(2)
186
103
(20)
269
NON-RECURRING EXPENSES/(INCOME):
Company reorganisation
5
8
22
7
42
12
2
56
Antitrust
205
-
-
-
205
-
-
205
Draka integration costs
-
2
-
-
2
-
10
12
Draka acquisition costs
-
-
-
-
-
-
6
6
Effects of Draka change of control
-
-
-
-
-
-
2
2
Release of Draka inventory step-up
(2)
-
5
3
-
8
6
-
14
Environmental remediation and other costs
2
2
1
-
5
-
-
5
Gains on disposal of assets held for sale
-
-
-
(1)
(1)
-
-
(1)
Total non-recurring expenses/(income) (B)
212
17
26
6
261
18
20
299
Adjusted EBITDA (A+B)
267
70
106
4
447
121
-
568
