Segment information

With regard to the indicators used by the management to assess the Group’s financial performance, please refer to paragraph 2.5 of the Report on operations.

The Group operates in two different segments: signalling, for inter-city and urban railways, through the Signalling Business Unit and transport systems through the Transportation Solutions Business Unit. For more detailed analysis of the main programmes, outlook, and management indicators for each unit, see the Report on operations by segment.
The results of the Business Units in the 2010 financial year, compared with those for the same period of the previous year, are as follows:

EBIT by Business Unit
31.12.2010 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Revenue 841,831 504,448 - (62,569) 1,283,710
Other operating income 7,778 4,355 32,398 (17,362) 27,169
External costs (492,176) (420,418) 10,871 72,180 (829,543)
Personnel costs (232,780) (40,017) (34,430) - (307,227)
Other operating expenses (7,119) (1,695) (17,627) 9,042 (17,399)
Amortisation, depreciation and impairment (13,302) (379) (5,964) - (19,645)
EBIT 104,232 46,294 (14,752) 1,291 137,065

31.12.2009 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Revenue 804,978 417,130 - (46,468) 1,175,640
Other operating income 19,486 1,773 16,270 (15,868) 21,661
External costs (463,883) (340,128) (19,083) 61,092 (762,002)
Personnel costs (236,321) (32,643) (11,679) - (280,643)
Other operating expenses (13,852) (1,163) (1,124) 179 (15,960)
Amortisation, depreciation and impairment (11,416) (1,858) (370) - (13,644)
EBIT 98,992 43,111 (15,986) (1,065) 125,052

Working capital by Business Unit
31.12.2010 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Inventories 123,810 26,508 3,350 (26,036) 127,632
Contract work in progress, net (273,203) (193,054) (1) 26,036 (440,222)
Trade receivables 357,543 324,864 4,097 (61,696) 624,808
Trade payables (187,152) (262,947) (14,730) 61,696 (403,133)
Provisions for risks and charges (20,698) (670) (1,049) - (22,417)
Working capital 300 (105,299) (8,333) - (113,332)
Other net assets (liabilities) - - (40,895) (26) (40,921)
Net working capital 300 (105,299) (49,228) (26) (154,253)

31.12.2009 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Inventories 94,686 15,557 - (11,065) 99,178
Contract work in progress, net (303,314) (210,693) - 13,203 (500,804)
Trade receivables 292,611 278,119 6,408 (50,638) 526,500
Trade payables (108,491) (180,044) (7,957) 48,324 (248,168)
Provisions for risks and charges (24,690) (906) (2,130) - (27,726)
Working capital (49,198) (97,967) (3,679) (176) (151,020)
Other net assets (liabilities) - - (36,274) 176 (36,098)
Net working capital (49,198) (97,967) (39,953) - (187,118)

The break-down by geographical area is the following:

Revenue
(EUR thousand) 31.12.2010 31.12.2009
Italy 556,865 560,815
Rest of Western Europe 253,816 222,042
North America 117,552 74,796
Asia Pacifi c 215,989 256,927
Others 139,488 61,060
Total 1,283,710 1,175,640

Fixed assets
(EUR thousand) 31.12.2010 31.12.2009
Italy 114,428 111,544
Rest of Western Europe 11,895 11,075
North America 15,765 15,066
Asia Pacific 6,796 6,946
Total 148,884 144,630