Page 21 - PARMALAT 2017 ANNUAL REPORT

Data by Geographic Region

(amounts in millions of euros) Year 2017 Year 2016 Delta %

Region Net Revenue EBITDA EBITDA % Net Revenue EBITDA EBITDA % Net Revenue EBITDA
Europe 1,145.3 105.7 9.2 1,073.4 108.6 10.1 +6.7% -2.7%
North America 2,594.7 227.4 8.8 2,489.5 249.2 10.0 +4.2% -8.7%
Latin America 1,346.5 42.5 3.2 1,387.4 52.9 3.8 -2.9% -19.8%
Africa 438.5 33.9 7.7 397.3 33.1 8.3 +10.4% +2.7%
Oceania 1,096.0 62.0 5.7 1,058.4 61.9 5.8 +3.6% +0.2%
Other 1 (17.3) (4.4) n.s. (17.9) (16.5) n.s. n.s. n.s.
Group excl. hyperinflation 6,603.7 467.1 7.1 6,388.2 489.3 7.7 +3.4% -4.5%
Hyperinflation in Venezuela 91.9 (13.5) n.s. 101.3 (30.7) n.s. n.s. n.s.
Group 6,695.5 453.6 6.8 6,489.4 458.5 7.1 +3.2% -1.1%
Regions represent the consolidated countries.
1
Includes other non-core companies, eliminations between regions and Group's Parent Company costs.

Net revenue by Geographic Region

Latin America Africa
20% 7%

Oceania
17%

North America Europe
39% 17%

In order to improve comparability with the 2016 data, the table below presents the Group’s results at constant
exchange rates and comparable scope of consolidation and excluding Venezuela:

(amounts in millions of euros) Year 2017 Year 2016 Delta %
Region Net Revenue EBITDA EBITDA % Net Revenue EBITDA EBITDA % Net Revenue EBITDA
Europe 1,123.7 105.3 9.4 1,073.4 108.6 10.1 +4.7% -3.1%
North America 2,578.0 226.0 8.8 2,489.5 249.2 10.0 +3.6% -9.3%
Latin America 1,135.9 20.1 1.8 1,297.9 30.1 2.3 -12.5% -33.3%
Africa 408.2 31.4 7.7 397.3 33.1 8.3 +2.7% -5.0%
Oceania 1,003.0 62.8 6.3 983.7 56.8 5.8 +2.0% +10.6%
1
Other (17.3) (5.0) n.s. (17.9) (16.3) n.s. n.s. n.s.
Group 6,231.5 440.5 7.1 6,223.9 461.6 7.4 +0.1% -4.5%
(constant exch. rates/scope of consolidation) 2
Regions represent the consolidated countries.
1
Includes other non-core companies, eliminations between regions and Group's Parent Company costs.
2
Excluding Venezuela, new activities consolidated in 2016 (Parmalat Australia YD and Sadefox), in the first half of 2017 (Chile) and in the second half of 2017 (Karoun in the U.S. and Silac in Italy).

Report on Operations – Revenue and Profitability 19