14MB - Pirelli

EXTRAORDINARY SESSION CONSOLIDATED FINANCIAL STATEMENT SUSTAINABILITY REPORT DIRECTORS' REPORT PRELIMINARY INFORMATION
and cash equivalents as well as other interest-earning financial
receivables. The Notes present a table that shows the balance
sheet amounts used to calculate the net financial (liquidity)/
debt position.
The Five-year summary of selected consolidated financial data
published at the beginning of the report includes other measures
formed by an aggregation of IFRS performance measures.
In particular:
——
Fixed assets: this measure is the sum of the line items “Property,
plant and equipment”, “Intangible assets”, “Investments in
associates and joint ventures” and “Other financial assets”.
——
Provisions: this measure is the sum of the line items
“Provisions for other liabilities and expenses (current and
non-current)”, “Employee benefit obligations” and “Deferred
tax liabilities”;
——
Net working capital: this measure is formed by all other line
items not included in the two above measures, in “Equity” and
the “Net financial position”.
INCOME (LOSS) FROM DISCONTINUED OPERATIONS
The Photonics business and the Integrated Facility Management
business of Pirelli RE which were sold during the
course of 2008 are considered "discontinued operations" and
consequently contribute solely to the net result for the year.
Therefore, for purposes of comparison, the income statement
figures relating to 2007 are presented excluding the results of the
discontinued operations.
24 PIRELLI & C. S.p.A. MILAN