This section analyses the main results and most significant events affecting management of the Group in 2013. It is organised according to the distribution of the Group's activities into its various segments.
- Corporate, coordination and supervision of Impregilo S.p.A.’s main investments; this is carried out by central units forming part of the parent;
- Construction, business headed by Impregilo S.p.A.;
- Concessions, business coordinated by Impregilo International Infrastructures (the Netherlands) and carried out through subsidiaries, jointly controlled entities and associates;
- Engineering & Plant Construction, business headed by FISIA Italimpianti and FISIA Babcock Environment (Germany).
The tables on the following pages highlight the contribution of the individual business segments to the consolidated results, and provide a breakdown of net invested capital by business segment.
The remaining waste disposal activities in the Campania region (“Campania USW projects”) are discussed in a separate section of this Report.
| (Values in €/000) | Construction | Concessions | Engineeting & Plant Construction | Campania USW projects | Eliminations | Corporate costs (unallocates items) | Total |
|---|---|---|---|---|---|---|---|
| Operating revenue | 2,101,823 | 19,118 | 141,810 | – | (1,345) | 2,261,406 | |
| Other revenue | 53,593 | 1,679 | 7,435 | 821 | (1,600) | 61,928 | |
| Total revenue | 2,155,416 | 20,797 | 149,245 | 821 | (2,945) | – | 2,323,334 |
| Costs | |||||||
| Purchases, sub-contracts and other operating expenses | (1,527,229) | (19,315) | (105,702) | (2,357) | 2,257 | (25,448) | (1,677,794) |
| Personnel expenses | (316,153) | (6,629) | (43,953) | (241) | 688 | (18,131) | (384,419) |
| Provisions and impairment losses | (12,757) | – | 3,648 | – | (1,082) | (10,191) | |
| Total costs | (1,856,139) | (25,944) | (146,007) | (2,598) | 2,945 | (44,661) | (2,072,404) |
| Gross operating profit (loss) | 299,277 | (5,147) | 3,238 | (1,777) | – | (44,661) | 250,930 |
| Gross operating profit (loss) % | 13.9% | n.a. | 2.2% | n.a. | 10.8% | ||
| Amortisation and depreciation | (89,261) | (825) | (2,918) | (2) | (46) | (93,052) | |
| Operating profit (loss) before non-recurring items | 210,016 | (5,972) | 320 | (1,779) | – | (44,707) | 157,878 |
| Return on Sales | 9.7% | n.a. | 0.2% | n.a. | 6.8% | ||
| Operating profit | 210,016 | (5,972) | 320 | (1,779) | – | (44,707) | 157,878 |
| Profit (loss) from discontinued operations | (766) | 81,401 | 80,635 |
Consolidated statement of financial position as at 31 December 2013 by business segment
| (Values in €/000) | Construction | Concessions | Engineeting & Plant Construction | Campania USW projects | Eliminations and unallocated items | Total |
|---|---|---|---|---|---|---|
| Total non-current assets | 547,727 | 83,721 | 13,129 | 791 | (288,286) | 357,082 |
| Assets held for sale, net | 5,683 | 5,683 | ||||
| Provisions for risks, post-employment benefits and employee benefits and other non-current assets (liabilities) | (47,602) | (1,519) | (6,441) | (30,432) | (15,608) | (101,602) |
| Net tax liabilities | 139,225 | 139,225 | ||||
| Working capital | 479,659 | 19,355 | 28,016 | 50,157 | (12) | 577,175 |
| Net invested capital | 979,784 | 101,557 | 34,704 | 26,199 | (164,681) | 977,563 |
| Equity | 1,399,014 | 1,399,014 | ||||
| Net financial position | (421,451) | (421,451) | ||||
| Total financial resources | 977,563 |