Key Figures

Yearly data
Quarterly data
(euro mln) 2012 2013 2014 2015 2015 2016
Restated
(1)
Restated
(2)
Reported excl.
Venezuela
Profit and Loss
Net sales 6,072 6,061 6,018 6,310 5,963 6,058
EBITDA before restructuring cost 1,103 1,095 1,168 1,243 1,156 1,183
% on sales 18.2% 18.1% 19.4% 19.7% 19.4% 19.5%
EBIT before restructuring costs 832 810 869 919 860 * 897 *
% on sales 13.7% 13.4% 14.4% 14.6% 14.4% * 14.8% *
EBIT 793 785 838 850 786 724
% on sales 13.1% 12.9% 13.9% 13.5% 13.2% 12.0%
Results from equity investments (52) (78) (87) (41) - (20)
Financial income / (Charges) (151) (193) (262) (328) - (440)
PBT adjusted 590 514 489 481 - 264
Venezuela decons. Impact - - - (560) - -
PBT 590 514 489 (79) - 264
Tax rate -33.6% -40.7% -35.5% n.m - -44.1%
Net income (loss) before disc. Operations 392 304 315 (369) - 148
Net Income 392 306 333 (384) - 148
Attributable Net income 387 304 319 (391) - 135

(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) 1Q'16 1Q'16 1Q'17
Reported (1) Restated (2)
Profit and Loss
Net sales 1,436 1,181 1,339
EBITDA before non recurring items & restr. Costs 290 262 270
% on sales 20.2% 21.1% 20.2%
EBIT adjusted (3) 217 204 205
% on sales 15.1% 17.2% 15.3%
Amortization from PPA (2) (26) (26)
Non recurring items & Restr. Costs (15) (11) (10)
EBIT 200 166 169
% on sales 13.9% 14.1% 12.6%
Results from equity investments (43) (43) (3)
Financial Income/ (Charges) (83) (134) (77)
EBT 75 (10) 89
Taxe rate % -46.1% n.m -44.1%
Net income before discontinued operations 40 (30) 50
Discontinued operations 0 (20) (77)
Net income 40 (50) (27)
Attributable Net income 40 (51) (27)

1. Includes Industrial legal entity
2. Industrial in disc. Operations
3. Before amortization of PPA, non recurring items and restructuring costs

Last Revised: 22 May 2017