Balance Sheet

Yearly data
Quarterly data
(euro mln) 2012 2013 2014 2015 2015 2016
Restated
(1)
Restated
(2)
Reported excl.
Venezuela
Balance Sheet
Fixed assets 3,877 4,043 3,874 3,781 - 10,299
Net working capital 550 412 368 309 - (74)
Net invested capital 4,427 4,455 4.273 4,090 - 10,225
Equity 2,389 2,437 2,612 2,344 - 3,275
Provisions 832 696 682 547 - 2,037
Net financial (liquidity)/debt position 1,205 1,322 980 1.199 - 4,913
Pirelli & C. attributable Equity 2,337 2,376 2,548 2,280 - 3,134

(1) 2012 figures IAS 19 restated
(2) Steelcord business as discontinued operations
*before amortization of PPA, non recurring items and restructuring costs

As an effect of the assignment by Pirelli & C. S.p.A. to Marco Polo International Italy S.r.l. of the shares of TP Industrial Holding, the company into which Pirelli’s Industrial activities had been conferred, the Industrial business is qualified as a “discontinued operation”. The result for the year of the discontinued operation has been reclassified in the income statement under the heading “results of disposed operating activities”. The comparable economic data for 2016 have been thus restated.

(euro mln)

FY'16 1Q'17
Balance Sheet
Fixed assets related to continuing operations 10,299 9,214
Inventories 1,056 926
Trade receivables 679 1,045
Trade payables (1,499) (1,062)
Operating net working capital related to continuing operations 236 908
Other receivables / payables (311) 118
Net Working Capital related to continuing operations (74) 1,026
Net invested capital held for sale - 118
Net invested capital 10,225 10,358
Equity 3,275 3,003
Provisions 2,037 1,830
Net financial position 4,913 5,525

Last Revised: 22 May 2017