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To better represent the performance of the various business segments, since the fourth quarter of 2014 the results of HMSHost have been split into its two components: North America (United States and Canada) and International (Northern Europe, Middle East, Asia, Australia and New Zealand). In the “Europe” segment, Italy is shown separately from the other countries due to its significance for the Group.
For a more immediate grasp of operating performance, changes are discussed in terms of constant exchange rates.
Revenue by geographical area
Revenue is broken down below by geographical area:
| Change | ||||
|---|---|---|---|---|
| (€m) | Full Year 2015 | Full Year 2014 | 2014 | At constant exchange rates |
| North America | 2,232.4 | 1,847.9 | 20.8% | 2.7% |
| International | 347.0 | 278.2 | 24.7% | 21.9% |
| Italy | 1,057.4 | 1,091.7 | -3.1% | -3.1% |
| Other European countries | 732.4 | 712.3 | 2.8% | 0.3% |
| Total Europe | 1,789.8 | 1,804.1 | -0.8% | -1.8% |
| Total Revenue | 4,369.2 | 3,930.2 | 11.2% | 2.0% |
and here as a percentage of total revenue:
EBITDA by geographical area
Below are the details of EBITDA by geographical area 12:
| Change | ||||||
|---|---|---|---|---|---|---|
| (€m) | Full Year 2015 | % of revenue | Full Year 2014 | % of revenue | 2014 | At constant exchange rates |
| North America | 254.1 | 11.4% | 202.4 | 11.0% | 25.6% | 6.5% |
| International | 42.4 | 12.2% | 35.2 | 12.6% | 20.6% | 18.1% |
| Italy | 65.1 | 6.2% | 61.9 | 5.7% | 5.3% | 5.3% |
| Other European Countries | 49.2 | 6.7% | 46.7 | 6.6% | 5.3% | 1.4% |
| European central structure | (8.9) | - | (9.0) | - | 0.7% | 0.7% |
| Total Europe | 105.4 | 5.9% | 99.6 | 5.5% | 5.8% | 3.9% |
| Corporate costs | (25.7) | - | (20.9) | - | -22.9% | -22.9% |
| Total EBITDA | 376.2 | 8.6% | 316.2 | 8.0% | 19.0% | 6.0% |