Milan, 31 July 2014 – In compliance with the request sent by Consob on 13 September 2012, pursuant to article 114, paragraph 5, of Legislative Decree 58/1998, the following information is provided on Prelios S.p.A. and its Group, as at 30 June 2014.
1) Net Financial Position, with current and non-current items reported separately.
Prelios Group Net Financial Position at 30 June 2014 is negative for 183.8 million euro, compared to -181.9 million euro at May 2014. Including cash and cash equivalents relative to held-for-sale assets, the Group Net Financial Position at 30 June 2014 is negative for euro 183.4 million.
Prelios S.p.A. Net Financial Position at 30 June 2014 is negative for 226.8 million euro, compared to -224.5 million euro at May 2014.
2) Past due payables, recorded by category (financial, trade, tax, social security and amounts due to employees) and any associated actions by creditors (reminders, injunctions, suspended deliveries, etc.):
Prelios Group past due trade payables total 10 million euro (11.8 million euro at May 2014), today reduced to 6 million euro following to payment of 4 million euro in July.
This situation falls within the scope of the customary business relations with Prelios Group suppliers.
Prelios S.p.A. past due trade payables total 4.4 million euro (5.4 million euro at May 2014), today reduced to 2.6 million euro following to payment of 1.8 million euro in July.
There are no legal disputes, court proceedings or suspended deliveries associated with the above items. Any payment reminders are part of normal business relations.
There are no past due amounts of a financial or tax nature, or amounts due to social security institutions or to employees.
3) Prelios Group and Prelios S.p.A. dealings with Related Parties:
Dealings with related parties consisting of subsidiary companies of Prelios S.p.A. or joint ventures and its associated companies (“Intragroup Dealings”), and dealings with related parties other than intragroup dealings (“Other Related Parties”), in particular Pirelli & C. S.p.A. and its subsidiaries, are of a trade and financial nature, falling within normal business operations, and are at arm’s length. There are no atypical and/or unusual transactions.
It should be noted that the preliminary disclosure concerning the dealings with associated companies, joint ventures and other companies of Prelios Group as well as Prelios S.p.A. subsidiaries, relating to June 2014, reported below, is compared with the data that refer to last
30 March 2014 with regard to balance sheet data and with the data at 30 June 2013 with regard to income statement data. This is due to the fact that the Group’s internal invoicing cycle is essentially quarterly and no significant accounting provisions are made with subsidiary and associated companies in the intervening months. This especially affects operating Revenues and Costs, Financial Income and Charges, current Trade Receivables and Payables, which are items that do not therefore vary significantly in the intervening months.