14MB - Pirelli

EXTRAORDINARY SESSION CONSOLIDATED FINANCIAL STATEMENT SUSTAINABILITY REPORT DIRECTORS' REPORT PRELIMINARY INFORMATION
For a better understanding of the Group’s performance by business
segment, the following income statement data and the net financial
position are presented by business segment.
12/31/2008 (in millions of euro)
26 PIRELLI & C. S.p.A. MILAN
Tyre
Real
Estate
Broadband
Access
Other
Businesses
Net sales 4,100.2 365.1 124.6 71.6 (1.3) 4,660.2
Gross operating profit (loss) before restructuring exp. 441.2 (17.6) 4.8 (17.4) (14.9) 396.1
Operating profit (loss) before restructuring exp. 250.7 (27.0) 3.9 (18.3) (21.9) 187.4
Restructuring expenses (100.0) (44.2) - - - (144.2)
Operating profit (loss) 150.7 (71.2) 3.9 (18.3) (21.9) 43.2
Earnings (losses) from investments 27.8 (168.5) - (1.0) (224.8) (366.5)
Operating profit (loss) incl. earnings (losses) from investments 178.5 (239.7) 3.9 (19.3) (246.7) (323.3)
Financial income (expenses) (82.8) (26.0) (2.6) (1.7) 33.1 (80.0)
Income taxes (70.1) (1.9) 0.7 0.2 (1.5) (72.6)
Income (loss) from continuing operations 25.6 (267.6) 2.0 (20.8) (215.1) (475.9)
Income (loss) from discontinued operations - 74.6 (10.9) - (0.3) 63.4
Income (loss) 25.6 (193.0) (8.9) (20.8) (215.4) (412.5)
Net financial (liquidity)/debt position 1,266.8 289.5 (15.0) 23.1 (536.7) 1,027.7
12/31/2007 (in millions of euro)
Tyre
Real
Estate
Broadband
Access
Other
Businesses
Net sales 4,161.7 1,724.4 112.5 71.4 5.6 6,075.6
Net sales (excluding DGAG) - 428.8 - - - 4,780.0
Gross operating profit (loss) 548.6 40.7 1.9 (7.6) (10.8) 572.8
Operating profit (loss) 358.1 33.1 0.9 (8.5) (19.6) 364.0
Earnings (losses) from investments 1.5 139.4 - (0.3) 8.0 148.6
Operating profit (loss) including earnings (losses)
from investments 359.6 172.5 0.9 (8.8) (11.6) 512.6
Financial income (expenses) (55.2) (37.5) (3.5) (0.5) (37.1) (133.8)
Income taxes (93.9) (23.6) - (0.5) (5.0) (123.0)
Income (loss) from continuing operations 210.5 111.4 (2.6) (9.8) (53.7) 255.8
Income (loss) from discontinued operations - 49.5 (14.8) - 33.1 67.8
Income (loss) 210.5 160.9 (17.4) (9.8) (20.6) 323.6
Net financial (liquidity)/debt position 559.6 289.7 21.5 5.6 (1,178.5) (302.1)
NET SALES
Net sales in 2008 amount to Euros 4,660.2 million and are in line
(-0.1 percent) on a like-for-like basis and net of the exchange effect
(-2.5 percent including the exchange effect) compared to 2007.
A percentage breakdown of net sales by business segment, on a
like-for-like basis, excluding the effect of the deconsolidation of
DGAG in 2007, is as follows:
2008 2007
Tyre 88.0% 87.1%
Real Estate 7.8% 9.0%
Broadband Access 2.7% 2.4%
Other 1.5% 1.5%
100% 100%
Other
Other
Total
Total