APC 2015 Annual Report Download - page 185

2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 183
BUSINESS REVIEW
4
REVIEW OF THE CONSOLIDATED FINANCIAL STATEMENTS
2.8 EBITA and Adjusted EBITA by business segment
The following table sets out EBITA and adjusted EBITA by business segment:
Full year 2015
(inmillions of euros) Buildings& Partner Industry Infrastructure IT Corporate costs Total
Revenue 11,859 5,696 5,428 3,657 - 26,640
Adjusted EBITA* 2,132 975 495 644 (605) 3,641
Adjusted EBITA % 18.0% 17.1% 9.1% 17.6% - 13.7%
Other operating income
andexpense (240) (22) (240) (5) (15) (522)
Restructuring costs (169) (22) (89) (8) (30) (318)
EBITA 1,723 931 166 631 (650) 2,801
EBITA % 14.5% 16.4% 3.1% 17.3% - 10.5%
* Adjusted EBITA: EBITA before r estructuring costs and before o ther operating income and expenses (including acquisition, integration and
separation costs).
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 income
andexpense 7 (34) (86) 1 6 (106)
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 r estructuring costs and before o ther operating income and expenses (including acquisition, integration and
separation costs).
Buildings & Partner business recorded an adjusted EBITA
margin of 18.0% for the year ended December31, 2015, up 0.2%
compared to17.8% for the year ended December31, 2014 , thanks
to better support function costs control.
Industry business recorded an adjusted EBITA margin of 17.1%
for the year ended December31, 2015, down 1.3% compared to
18.4% for the year ended December31, 2014, penalized by volume
decline, negative FX impact and higher R&D amortization costs.
Infrastructure business recorded an adjusted EBITA margin of
9.1% for the year ended December31, 2015, up 0.5% compared
to 8.6% for the year ended December31, 2014, benefi ting from
project gross margin improvement in second semester and good
control of support functions costs.
IT business reported an adjusted EBITA margin of 17.6% for
the year ended December31, 2015, down 1.2% compared with
18.8% margin for the year ended December31, 2014, penalized
by negative mix and FX impact.
Corporate costs amounted to EUR605million for the year ended
December31, 2015 or 2.3% of Group revenues, a similar level to
the year ended December31, 2014 (2.2% of Group revenues or
EUR557million).
2.9 Operating income (EBIT)
Operating income (EBIT) decreased from EUR2,896 million for
the year ended December31, 2014 to 2,229million for the year
ended December31, 2015. This 23.1% decrease is explained by
both the EBITA decrease and by an impairment of Pelco trademark
amounting to EUR295million in «Amortization and impairment of
purchase accounting intangibles».