APC 2013 Annual Report Download - page 178

4BUSINESS REVIEW
REVIEW OF THE CONSOLIDATED FINANCIAL STATEMENTS
Restructuring costs
For the year ended December31, 2013, restructuring costs amounted to EUR176million compared to EUR164million for the year ended
December31, 2012. These costs related to industrial and support functions restructurings.
EBITA and Adjusted EBITA
We define EBITA as earnings before interest, taxes and to negative currency effect of EUR233million that offset high
amortization of purchase accounting intangibles. EBITA comprises industrial productivity. As a percentage of revenue, adjusted EBITA
operating profit before amortization and impairment of purchase decreased from 14.7% for the year ended December31, 2012 to
accounting intangible assets and before goodwill impairment. 14.5% for the year ended December31, 2013, only due to
negative currency and scope effects.
We define adjusted EBITA as EBITA before restructuring costs and
before other operating income and expenses, which includes EBITA decreased by 1.0% from EUR3,341million for the year
acquisition, integration and separation costs. ended December31, 2012 to EUR3,309million for the year ended
December31, 2013, mainly linked to the decrease of adjusted
Adjusted EBITA amounted to EUR3,412million for the year ended EBITA. As a percentage of revenue, EBITA increased to 14.1% in
December31, 2013, compared to EUR3,515million for the year 2013 compared with 14.0% in 2012.
ended December31, 2012, representing a decrease of 2.9%, due
EBITA and Adjusted EBITA by business segment
The following table sets out EBITA and adjusted EBITA by business segment:
Full year 2013
Corporate
(inmillions of euro) Partner Infrastructure Industry IT Buildings Totalcosts
Revenue 8,476 5,728 4,311 3,442 1,594 - 23,551
Adjusted EBITA* 1,801 560 833 650 94 (526) 3,412
Adjusted EBITA (%) 21.2% 9.8% 19.3% 18.9% 5.9% - 14.5%
Other operating income
53 (17) 35 (5) 9 (2) 73andexpense
Restructuring costs (74) (59) (22) (7) (12) (2) (176)
EBITA 1,780 484 846 638 91 (530) 3,309
EBITA (%) 21.0% 8.4% 19.6% 18.5% 5.7% - 14.1%
* Adjusted EBITA: EBITA before Restructuring costs and before Other operating income and expenses (of which Costs of acquisition,
integration and separation).
Full year 2012
Corporate
(inmillions of euro) Partner Infrastructure Industry IT Buildings Totalcosts
Revenue 8,738 5,366 4,483 3,677 1,682 - 23,946
Adjusted EBITA* 1,813 575 823 698 107 (501) 3,515
Adjusted EBITA (%) 20.7% 10.7% 18.4% 19.0% 6.4% - 14.7%
Other operating income and
17 (6) (2) (3) (3) (13) (10)expense
Restructuring costs (84) (32) (21) (4) (12) (11) (164)
EBITA 1,746 537 800 691 92 (525) 3,341
EBITA (%) 20.0% 10.0% 17.8% 18.8% 5.5% 14.0%
* Adjusted EBITA: EBITA before Restructuring costs and before Other operating income and expenses (of which Costs of acquisition,
integration and separation).
176 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC