The year 2011 can be considered a positive year both commercially and productively. The economic and financial indicators, whilst broadly positive, are lower than in the prior year, essentially due to the suspension of the activities in Libya.
The actions undertaken for the penetration in new customers and new markets and the strengthening of the company’s presence in areas previously acquired achieved undoubted successes for both the volume of new orders and the quality characteristics of these orders. The commercial success in Honolulu is the clearest confirmation of that. Positive signs from the domestic market, in particular the Italian Railways segment, are the awarding of the contract for the upgrade of the technological systems for the Turin-Padua line.
The commercial and technical structures of the company were strongly involved with a customer that remains at the centre of Ansaldo STS’s strategy for both the size of its future investments and its absolute technological leadership built over the past years in this important market. New orders amounted to a total volume of EUR 1,499 million (EUR 1,537 million in 2010); as a result, the order backlog came to EUR 4,471 million at 31 December 2011 (EUR 3,731 million at the end of 2010, up 20%).
The total production volume was EUR 722.4 million, a decrease from EUR 852.7 million in 2010. The volume effect was reflected in the value of Operating Profit (EUR 88.5 million), as compared with EUR 116.5 million in the prior year, and in the financial performance. The year ended with positive net financial position of EUR 238.2 million (EUR 259.7 million in 2010); net cash flow for the period was a negative EUR 21.5 million (EUR 60.4 million in 2010), after the payment of dividends of EUR 33.6 million (EUR 31.0 million in 2010).
The Fast Forward Driven by Business (FFDB) project ended. Thanks to this, Ansaldo STS S.p.A. changed from the originally financial and strategic holding company to an operating company, taking all the business responsibilities into its company structures. At the same time, the programme for the implementation of the new “SAP” IT system was made operational in all the main companies of the Group.