QUARTERLY OVERVIEW
4
Prysmian Group Insight
Adj. EBITDA rose to €162 million from
€160 million in the third quarter of 2012
Adj. EBITDA evolution
(€ million)
130
2012
Q1
Q2
Q3
9M
2013
115
178 167
160 162
468
444
As mentioned, Group Sales
amounted to €5,488 million,
compared with €5,930 million in
the first nine months of 2012;
organic growth was a negative
3.9%. The recovery in sales
seen in the second quarter
continued into the third with
basically stable organic growth.
The businesses most affected by
the difficult market conditions are
stabilising, with Trade & Installers
back to positive organic growth in
the quarter, with the only exception
being the Telecom business, which
saw continued decline in optical
cable sales in the Americas. Power
transmission and industrial cables,
particularly for the Oil & Gas
and Elevator sectors, have been
confirmed as important drivers of
growth, reporting positive sales
performance.
Adjusted EBITDA in the first nine
months of 2013 amounted to
€
444
million, compared with
€
468 million
in the corresponding period of
2012, with a slightly higher margin
on sales (8.1% vs 7.9%). The
reduction is entirely attributable
to the Telecom business, with the
Energy business recording a slight
increase in Adjusted EBITDA.
The trend towards
stabilization and
improvement in performance
started from the second
quarter is also reflected
in profitability, with third-
quarter Adjusted EBITDA
rising to
€
162 million from
€
160 million in the third
quarter of 2012.
Adjusted operating income amounted
to
€
329 million, compared with
€
349
million in the first nine months of
2012, while operating income was
€
265 million, compared with
€
295
million in the previous year. Net
finance income and costs reported a
negative balance of
€
106 million at
30 September 2013, compared with
€
86 million in the corresponding
prior-year period. Adjusted net profit
amounted to
€
180 million, compared
with
€
193 million in the first nine
months of 2012, while the margin
on sales was basically stable at
3.3%. The net result was a profit of
€
110 million, compared with
€
148
million in the first nine months of
2012. Net financial position at the
end of September 2013 amounted
to
€
1,246 million, a considerable
improvement on
€
1,446 million at
30 September 2012.
Group Sales amounted to
€
5,488 million, compared with
€
5,930 million in the first nine months of 2012; organic
growth was a negative 3.9%.
Adjusted EBITDA in the first nine months of 2013
amounted to
€
444 million, compared with
€
468 million
in the corresponding period of 2012.
