6.3.2Operating Segments

The Company’s reportable operating segments as defined by IFRS 8 ‘Operating segments’ are:

  • Lease and Operate;
  • Turnkey.

The operating segments are measured under Directional Reporting accounting principles, as described under Section 6.2.7.C.(e) ‘Significant accounting policies’ of the consolidated financial statements as of and for the year ended 31 December 2015.

2015 operating segments

Period ending 31 December 2015

Lease and Operate

Turnkey

Reported
segments

Other

Total Directional reporting

Third party revenue

1,105

1,512

2,618

-

2,618

Gross margin

342

447

789

-

789

Other operating income/expense

(5)

(34)

(38)

(260)

(298)

Selling and marketing expense

(5)

(56)

(61)

0

(60)

General and administrative expense

(18)

(83)

(101)

(95)

(196)

Research and development expense

-

(43)

(43)

0

(43)

Operating profit/(loss) (EBIT)

315

231

545

(354)

191

Net financing costs

(137)

Share of profit of equity-accounted investees

(8)

Income tax expense

(22)

Profit/(Loss)

24

Operating profit/(loss) (EBIT)

315

231

545

(354)

191

Depreciation, amortisation and impairment

352

8

360

10

370

EBITDA

667

239

906

(345)

561

Other segment information :

Impairment charge/(reversal)

13

2

15

-

15

Reconciliation of 2015 operating segments

Period ending 31 December 2015

Reported segments under Directional reporting

Impact of consolidation methods

Impact of lease accounting treatment

Impact of business segment that does not meet the definition of an operating segment

Total Consolidated IFRS

Revenue

Lease and Operate

1,105

65

(151)

-

1,020

Turnkey

1,512

(9)

181

-

1,685

Total revenue

2,618

57

31

-

2,705

Gross margin

Lease and Operate

342

54

30

-

426

Turnkey

447

(21)

(11)

-

414

Total gross margin

789

33

18

-

841

EBIT

Lease and Operate

315

51

30

-

395

Turnkey

231

(21)

(11)

-

198

Other

-

0

-

(354)

(354)

Total EBIT

545

29

18

(354)

239

EBITDA

Lease and Operate

667

76

(151)

-

592

Turnkey

239

(22)

(2)

-

215

Other

-

-

-

(345)

(345)

Total EBITDA

906

53

(152)

(345)

462

2014 operating segments

Period ending 31 December 2014

Lease and Operate

Turnkey

Reported
segments

Other

Total Directional reporting

Third party revenue

1,059

2,487

3,545

-

3,545

Gross margin

304

390

694

-

694

Other operating income/expense

0

(2)

(2)

(184)

(186)

Selling and marketing expense

(3)

(43)

(46)

0

(46)

General and administrative expense

(25)

(111)

(136)

(85)

(221)

Research and development expense

(2)

(38)

(40)

(40)

Operating profit/(loss) (EBIT)

274

195

469

(268)

201

Net financing costs

(127)

Share of profit of equity-accounted investees

13

Income tax expense

(3)

Profit/(Loss)

84

Operating profit/(loss) (EBIT)

274

195

469

(268)

201

Depreciation, amortisation and impairment

261

15

275

9

284

EBITDA

535

210

745

(259)

486

Other segment information :

Impairment charge/(reversal)

(17)

-

(17)

-

(17)

Reconciliation of 2014 operating segments

Period ending 31 December 2014

Reported segments under Directional reporting

Impact of consolidation methods

Impact of lease accounting treatment

Impact of business
segment that does
not meet the
definition of an
operating segment

Total Consolidated IFRS

Revenue

Lease and Operate

1,059

34

(82)

-

1,011

Turnkey

2,487

(164)

2,148

-

4,471

Total revenue

3,545

(130)

2,067

-

5,482

Gross margin

Lease and Operate

304

39

35

-

378

Turnkey

390

(42)

491

-

838

Total gross margin

694

(3)

526

-

1,217

EBIT

Lease and Operate

274

38

35

-

347

Turnkey

195

(39)

491

-

647

Other

-

-

-

(268)

(268)

Total EBIT

469

(1)

527

(268)

726

EBITDA

Lease and Operate

535

65

(79)

-

522

Turnkey

210

(38)

491

-

662

Other

-

-

-

(259)

(259)

Total EBITDA

745

27

412

(259)

925