APC 2010 Annual Report Download - page 170

CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
The impact of the acquisition of Areva’s Distribution business on the Group’s 2010 consolidated statement of income is as follows:
Group excluding Areva
Distribution
Contribution of Areva
Distribution since
acquisition Group published
Areva Distribution
from January1 to
Jun. 7
Group including Areva
Distribution since
January1
Revenue 18,350 1,230 19,580 648 20,228
EBITAR 2,942 85 3,027 14 3,041
EBITAR margin 16.0% 6.9% 15.5% 2.2% 15.0%
EBITA 2,846 85 2,931 9 2,940
EBITA margin 15.5% 6.9% 15.0% 1.4% 14.5%
2.2 - Other acquisitions during the year
Over the period the Group fi nalised the acquisitions of SCADAgroup
in Australia, CIMAC in the United Arab Emirates and Zicom in India.
These entities are fully consolidated since their acquisition date. In
addition, the acquisitions of Unifl air in Itlay and Vizelia and D5X in
France were fi nalised at end 2010 and will be consolidated in 2011.
Their consolidation did not have a materialimpact on the consolidated
fi nancial statements at December 31, 2010.
The Group also acquired 50% of shares in the Russian group
Electroshield TM Samara. This entity will be accounted for by the
equity method with a delay of three months required to prepare its
consolidated fi nancial statements and ensure their compliance with
IFRS standards.
The total amount of acquisitions during the year came to
EUR1,762million, net of cash and cash equivalents acquired,
including EUR1,085million for Areva’s Distribution business and
EUR201million relating to Electroshield TM Samara.
2010 2009
Acquisitions (1,762) (95)
Cash and cash equivalents paid (1,800) (94)
Cash and cash equivalents acquired 38 (1)
Disposals 824
Other operations 08
NET FINANCIAL INVESTMENTS (1,754) (63)
The impact of changes in the scope of consolidation in 2009 and 2010, excluding Areva Distribution, on the Group’s income statement as
of December31, 2010 is not material.
Note3 Segment information
The Group changed its internal structure with effect from January1,
2010. The new divisions are organised by business (Power, Industry,
IT, Buildings, CST). The comparative segment information relating
to the 2009 fi nancial year has been restated to take account of this
organisation, in accordance with paragraph 29 of IFRS8.
The fi ve Businesses are:
•Power, which includes Medium and Low Voltage, Installation
Systems and Control, Renewable Energies and four end-
customer segments: Utilities, Marine, Residential and Oil & Gas;
•Industry, which includes Automation & Control and three end-
customer segments: OEMs, Water Treatment and Mining,
Minerals & Metals;
•IT, which covers Critical Power & Cooling Services and two end-
customer segments: Data Centers and Financial Services;
•Buildings, which includes Building Automation and Security and
four end-customer segments: Hotels, Hospitals, Offi ce Buildings
and Retail Buildings;
•Custom Sensors & Technologies, a mainly technological
business focused on customers in the Automotive, Aeronautic
and Manufacturing industries.
Areva’s Distribution business acquired on June7, 2010 has not yet
been allocated to an operating segment or to a Cash Generating
Unit. It is therefore presented temporarily as a separate segment.
With effect from January1, 2011, the group’s Medium Voltage
businesses (currently presented under the Power business) will be
combined with the aforementioned acquired businesses in order to
form a new operating segment known as Energy.
Data concerning General Management that cannot be allocated to
a particular segment are presented under “Holding”.
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