Summary of results

As described in the previous paragraph, due to the effect of international accounting standards IFRS10 and IFRS11 coming into force, the economic data and balance sheet data at 31 December 2013 were restated and are shown for merely comparative purposes.

Income Statement Data (million euros) 31.12.2014

31.12.2013
Restated

Increase / (Decrease) % Increase / (Decrease)
Consolidated net revenue 3,038.3 3,289.0 (250.7) (7.6%)
Consolidated operating costs 2,339.3 2,644.0 (304.7) (11.5%)
Income/(Costs) from equity investments of a non-financial nature 18.8 30.3 (11.5) (37.9%)
- of which: EBITDA 125.7 122.3 3.4 2.8%
- of which: Amortisation, depreciation, impairment charges and provisions (82.4) (71.1) (11.3) 15.9%
- of which: Financing activities (9.7) 2.0 (11.7) (587.3%)
- of which: (Profit)/ loss on investments 0.0 0.0 0.0 0.0%
- of which: Taxation (14.8) (22.9) 8.1 (35.3%)
Net income/(costs) from commodity risk management 0.0 0.1 (0.1) (100.0%)
EBITDA 717.7 675.4 42.3 6.3%
EBIT 390.4 363.2 27.2 7.5%
Net profit (loss) 168.9 153.4 15.5 10.1%
Profit/(loss) attributable to minority interests 6.5 11.4 (4.9) (43.0%)
Net profit/(loss) attributable to the Group 162.5 142.0 20.5 14.4%

EBITDA by Operating Segment
(million
euros)
31.12.2014

31.12.2013
Restated

Increase / (Decrease)

% Increase / (Decrease)
         
ENVIRONMENT 54.5 48.4 6.2 12.8%
         
ENERGY 111.7 91.7 20.0 17.9%
Production 33.8 37.5 (3.6) (9.6%)
Energy Management 0.0 2.1 (2.1) (100.0%)
Sales 77.8 52.2 25.6 49.0%
         
WATER: 292.2 280.8 11.4 4.1%
Overseas 2.6 3.5 (0.9) (25.7%)
Lazio - Campania 261.1 249.7 11.4 4.6%
Tuscany - Umbria 17.2 19.1 (1.8) (9.4%)
Engineering 11.3 8.5 2.8 32.9%
         
NETWORKS 253.3 257.3 (4.0) (1.5%)
         
ACEA (Corporate) 6.1 (2.8) 8.9 318.8%
         
Total EBITDA 717.7 675.4 42.3 6.3%

Consolidated balance sheet data (million euros) 31.12.2014 31.12.2013 Restated

Increase / (Decrease)

Net Invested Capital 3,591.5 3,655.5 (64.0)
Net Debt (2,089.1) (2,248.6) 159.5
Consolidated Shareholders’ Equity (1,502.4) (1,406.8) (95.6)

Net Debt by Operating Segment (million euros) 31.12.2014

31.12.2013 Restated

Increase / (Decrease)

       
ENVIRONMENT 179.6 184.6 (5.0)
       
ENERGY 356.1 302.6 53.5
Production 134.9 140.7 (5.8)
Sales 221.2 162.0 59.3
       
WATER 488.1 610.8 (122.7)
Overseas (2.0) (9.6) 7.6
Lazio - Campania 478.2 617.7 (139.5)
Tuscany - Umbria (0.6) (0.2) (0.4)
Engineering 12.5 2.9 9.6
       
NETWORKS 623.1 683.5 (60.4)
       
ACEA (includes also public lighting) 442.1 467.0 (24.9)
       
Total 2,089.1 2,248.6 (159.5)

Investments by Operating Segment (million euros) 31.12.2014

31.12.2013 Restated

Increase / (Decrease)
       
  13.3 12.1 1.2
ENVIRONMENT      
  19.7 11.4 8.3
ENERGY 11.6 5.2 6.4
Production 0.0 0.0 0.0
Energy Management 8.1 6.0 2.1
Sales      
  148.9 129.9 19.0
WATER 0.6 0.2 0.4
Overseas 146.8 129.3 17.6
Lazio - Campania 0.0 0.0 0.0
Tuscany - Umbria 1.5 0.5 1.0
Engineering      
  122.4 103.2 19.2
NETWORKS      
  14.2 11.9 2.3
ACEA (Corporate)      
Total 318.6 268.6 50.0

If the Group continued to apply the accounting standards used up to 31 December 2013, the main economic/financial and consolidated balance sheet figures would be as shown in the following tables.

Economic data
(million euros)

31.12.2014 adjusted

31.12.2013 Increase / (Decrease) % Increase / (Decrease)
EBITDA 824.6 766.1 58.5 7.6%
EBIT 409.6 383.8 25.8 6.7%
Net profit (loss) 168.9 153.3 15.6 10.2%

Income Statement Data (million euros) 31.12.2014 adjusted

31.12.2014 adjusted

EBITDA 717.7 106.9 824.6
- Amortisation, depreciation, impairment charges and provisions 327.3 82.4 409.6
EBIT 390.4 24.5 415.0
- Financing activities (101.2) (9.7) (110.9)
- (Costs)/Income from investments 0.5 0.0 0.5
Profit/(loss) before tax 289.8 14.8 304.6
- Taxation 120.9 14.8 135.7
Net profit (loss) 168.9 0.0 168.9
Profit/(loss) attributable to minority interests 6.5 0.0 6.5
Net profit/(loss) attributable to the Group 162.5 0.0 162.5
     

Consolidated balance sheet data (million euros)

31.12.2014 adjusted

31.12.2013 Increase / (Decrease) % Increase / (Decrease)
Capex 383.2  342.2 41.0 12.0%
Net Debt (2.309.0) (2.468.2) 159.2 (6.5%)