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
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
Cash flow
Operating cash flow 281,1 725,8 740,3 701,4 - 882,7
Net operating cash flow (67,7) 323,9 304,7 83,1 - 326,1
Net cash flow (468,1) (117,2) 343,8 (219,5) - 418,2

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

(euro mln)
Profit and Loss 4Q'15
 
 
4Q'15
excl.
Venezuela*
1Q'16
 
 
2Q'16
 
 
3Q'16
 
 

4Q'16
 
 

Net sales 1598 1423 1436 1533 1565 1525
EBITDA before non recurring items & restr. 349 294 290 289 293 311
% on sales 21.9% 20.6% 20.2% 18.8% 18.8% 20.4%
EBIT adjusted** 261 222 217 215 223 242
% on sales 16.4% 15.6% 15.1% 14.0% 14.2% 15.8%
EBIT 202 162 175 181 185 184
% on sales 12.7% 11.4% 12.2% 11.8% 11.8% 12.0%
Results from equity investments (35) - (43) (6) (4) 33
Financial Income/ (Charges) (148) - (83) (198) (103) (57)
PBT adjusted 19 - 50 (24) 78 160
Venezuela deconsolidation impact (560) - - - - -
PBT (540) - 50 (24) 78 160
Tax rate n.m. - -54.3% n.m. -36.6% -21.7%
Net income before discontinued operations (660) - 23 (50) 50 125
Net income (660) - 23 (50) 50 125
Attributable Net income (659) - 22 (53) 47 118
Balance Sheet FY'15 1Q'16 1H'16 9M'16 FY'16
Fixed assets 3781 - 3675 8792 10194 10299
Net working capital 309 - 1044 939 976 (74)
Net invested capital 4090 - 4719 9731 11169 10225
Equity 2344 - 2292 3196 3188 3275
Provisions 547 - 523 536 2009 2037
Net financial (liquidity)/debt position 1199 - 1904 5999 5972 4913
Pirelli & C. attributable Equity 2280 - 2231 3132 3119 3134
Cash Flow FY'15 1Q'16 2Q'16 3Q'16 4Q'16
Operating cash flow 927 - (500) 308 159 915
Net operating cash flow 660 - (610) 84 28 824
Net cash flow 486 - (705) 36 27 1060

* Pirelli de Venezuela C.A. deconsolidated since 31/12/2015
** before amortization of PPA, non recurring items and restructuring costs

Last Revised: 06 Apr 2017