APC 2014 Annual Report Download - page 178

4BUSINESS REVIEW
REVIEW OF THE CONSOLIDATED FINANCIAL STATEMENTS
EBITA and Adjusted EBITA by business segment
The following table sets out EBITA and adjusted EBITA by business segment:
Full year 2014
(inmillions of euros) Buildings & Partner Industry Infrastructure IT Corporate costs Total
Revenue 10,754 5,551 5,277 3,357 - 24,939
Adjusted EBITA* 1,913 1,023 454 630 (557) 3,463
Adjusted EBITA % 17.8% 18.4% 8.6% 18.8% - 13.9%
Other operating
7 (34) (86) 1 6 (106)income andexpense
Restructuring costs (93) (26) (76) (4) (3) (202)
EBITA 1,827 963 292 627 (554) 3,155
EBITA % 17.0% 17.3% 5.5% 18.7% - 12.7%
* Adjusted EBITA: EBITA before Restructuring costs and before Other operating income and expenses (of which Costs of acquisition,
integration and separation).
Full year 2013*
(inmillions of euros) Buildings & Partner Industry Infrastructure IT Corporate costs Total
Revenue 10,355 3,868 5,727 3,442 - 23,392
Adjusted EBITA** 1,926 744 562 650 (526) 3,356
Adjusted EBITA % 18.6% 19.2% 9.8% 18.9% - 14.3%
Other operating
62 33 (17) (5) (2) 71income andexpense
Restructuring costs (86) (19) (59) (7) (2) (173)
EBITA 1,902 758 486 638 (530) 3,254
EBITA % 18.4% 19.6% 8.5% 18.5% - 13.9%
* The 2013 figures were restated from discontinued operations and change in consolidation method disclosed in note1.
** Adjusted EBITA: EBITA before Restructuring costs and before Other operating income and expenses (of which Costs of acquisition,
integration and separation).
Buildings & Partner business recorded an adjusted EBITA Infrastructure business recorded an adjusted EBITA margin of
margin of 17.8% for the year ended December31, 2014, down 8.6% for the year ended December31, 2014, down 0.8% compared
0.8% compared to18.6% for the year ended December31, to 9.8% for the year ended December31, 2013, mainly due to low
2013, mainly due to unfavorable foreign exchange effect, volume, negative mix and pressure on project selling price.
unfavorable mix effect of mid market offer and investment in IT business reported an adjusted EBITA margin of 18.8% for the
digitization. year ended December31, 2014, stable with 18.9% margin for the
Industry business recorded an adjusted EBITA margin of 18.4% for
year ended December31, 2013, showing resilience in a low
the year ended December31, 2014, down 0.8% compared to
growth environment.
19.2% for the year ended December31, 2013 (restated for the
Corporate costs amounted to EUR557million for the year ended
effect of discontinued operations and change in consolidation
December31, 2014 or 2.2% of Group revenues, a similar level as
method disclosed in note 1 of the consolidated financial
in the year ended December31, 2013 (2.2% of Group revenues
statements), mainly due to the dilutive effect of Invensys
or EUR526million).
consolidation, partly offset positive pricing and operational leverage.
176 2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC