Ansaldo STS group recognised a profit of €75,696 thousand for the year ended 31 December 2012, compared to €73,056 thousand for the previous year. Revenue came to €1,247,849 thousand, compared to €1,211,944 thousand and the ROS was 9.4%, compared to 9.6% in the previous year.
New orders totalled €1,492,346 thousand, compared to €2,163,745 thousand in 2011 (which included the maxi contract to build the Honolulu underground).
- new orders of €642,712 thousand for the Transportation Solutions business unit, mainly related to contracts under the master agreement with Rio Tinto in Australia;
- New orders of €893,197 thousand in the Signalling business unit include the order for technological systems for the Brescia-Treviglio high-speed section in Italy, the contract with Southeastern Pennsylvania Transportation Authority (SEPTA) to supply the Positive Train Control (PTC) integrated signalling system in the USA, the Roy Hill project in Australia for the development of systems for a mining transport railway line featuring innovative satellite technology to pinpoint the train’s location, a contract in the United Arab Emirates for the new Shah-Habshan-Ruswais line and the contract related to the Honam high-speed line in South Korea.
The order backlog at 31 December 2012 totalled €5,683,253 thousand, compared to €5,452,770 thousand at 31 December 2011.
In the broader context of the global financial crisis, the group’s 2012 performance was positive and in line with forecasts. The delivery of systems in Riyadh and Genoa, the CBTC (Communication Based Train Control) signalling system in Chengdu (China) and of the Milan Line 5 and Brescia underground (in early 2013) represent technological successes and the achievement of targets.
Despite the serious financial and economic crisis, the group’s reference market is generally solid, with international growth rates of 2-3% p.a.. Competition between key international players has however dramatically intensified in recent years, leading to falling unit prices. The group is responding to this issue by introducing plans to contain production and operating costs.
With reference to the group’s corporate and governance structure:
- in March 2012, Ansaldo STS S.p.A.’s board of directors approved the closure of the subsidiary, Ansaldo STS Sistemas de Transporte e Sinalização Limitada, with registered office in Brazil. The decision was based on an in-depth analysis of the Brazilian market and ASTS group’s position within it. The closure took effect from 23 May 2012;
- in September 2012, the dormant indirect subsidiary, Ansaldo STS Finland OY, was put into liquidation. The liquidation process will be completed within the first half of 2013. Any commercial opportunities arising in these countries will be pursued in partnership with local operators or other legal entities of the group.