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Analysis of the Other Services Segment

The Other Services Segment, which includes the Public Lighting, District Heating and Heat Management Services, weighs in on the overall EBITDA margin of the Group for around 6.4%, compared with 5.3% in the previous year, in relation to the excellent results for 2006.

(mln/€)

31-Dec-05

pro-forma

31-Dec-06

Change

Change %

Area EBITDA

20.6

27.4

+6.8

+33.2%

Group EBITDA

386.4

426.7

+40.3

+10.4%

Percentage

5.3%

6.4%

+1.1 p.p.

 

An analysis of the operating results achieved in the Other Services segment is shown below:

Income statement

(mln/€)

31-Dec-05

pro-forma

Incr.%

31-Dec-06

Incr.%

Change

Change %

Revenues

130.8

 

163.1

 

+32.3

+24.7%

Operating costs

(107.0)

-81.8%

(135.6)

-83.1%

-28.7

+26.8%

Personnel costs

(25.8)

-19.8%

(24.5)

-15.0%

+1.4

-5.4%

Capitalised costs

22.6

17.3%

24.4

15.0%

+1.8

+7.8%

Ebitda

20.6

15.7%

27.4

16.8%

+6.8

+33.2%

Activities for the rationalisation and re-organisation of the area also continued during 2006, leading to the progressive discontinuation of many services not linked to the Group's core business activities. Despite this fact, revenues increased, passing from Euro 130.8 million to Euro 163.1 million, especially in relation to the rise in revenues from district heating, associated, as is known, with the energy raw material trend and the growth in turnover of the Public Lighting activities.

Activities for the re-organisation and focusing of the segment made it possible to achieve high levels of efficiency as can be noted from the reduction in the cost of labour which as a percentage of revenues dropped from 19.8% in 2005 to 15.0% in 2006.

The afore-mentioned improvement in efficiency and rationalisations, in addition to certain extraordinary items, permitted EBITA growth of Euro 6.8 million, rising from Euro 20.6 million in 2005 to Euro 27.4 million in 2006, a 33.2% increase.

The quantitative data of the main services carried out by the Group are summarized in the following table

Quantitative data

31-Dec-05

pro-forma

31-Dec-06

Change

Change %

District heating

    

Heat volumes distributed (Gwht)

469.9

425.9

-44.0

-9.4%

Public lighting

    

Light units (thousand)

293.2

309.1

+15.9

+5.4%

Municipalities served

58

57

-1

-1.7%

 

 
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