Income statement

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(M€)31.12.201831.12.201731.12.201631.12.201531.12.2014
Revenue 1,437.1 1,361.0 1,327.4 1,383.8 1,303.5
Purchasing and personnel expenses (1,306.3) (1,247.2) (1,182.4) (1,233.3) (1,159.7)
Amortisation and depreciation (23) (19.0) (18.3) (18.7) (18.3)
Other net operating income (expense) 3.6 5.8 0.7 4.3 9.5
Changes in work in progress, semi-finished and finished goods 7 0.3 (0.5) (0.3) (4.5)
EBIT Adjusted 100.8 126.8 135.8 130.5
Restructuring costs - - - (6,0)
Operating Income (EBIT) 118.5 100.8 126.8 135.8 124.5
Net financial income (expense) 1.5 (1.8) (10.2) 0.9 (0.5)
Income taxes (31.6) (34.2) (38.7) (43.7) (43.3)
Profits/(Losses) from non-current assets for sale - - - -
Net Profit 88.3 64.9 77.9 93.0 80.7
Profit per share (Basic and Diluted) 0.44 0.32 0.39 0.47 0.43

EPS of EUR 0.44 (EUR 0.32 in 2017) was calculated based on the average of n. 199,990,670 outstanding shares in the year (n. 199,996,061 shares in 2017).

Statement of financial position

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(M€)31.12.201831.12.201731.12.201631.12.201531.12.2014
Non-current assets 324.4 305.1 310.4 307.2 296.7
Non-current liabilities (62.1) (60.8) (61.1) (55.3) (57.1)
 

262.3

244.3

249.3 251.9 239.6
Inventories 119.3 111.0 125.0 121.2 106.1
Contract work in progress 449.5 379.6 358.9 346.4 304.2
Trade receivables 680.4 736.6 728.9 663.6 710.6
Trade payables (391.6) (413.6) (458.1) (416.0) (368.9)
Progress payments and advances from customers (677.2) (683.0) (598.0) (635.8) (686.2)
Provisions for risks and charges (39.6) (16.0) (14.1) (11.1) (10.4)
Other net assets/(liabilities) (14.3) 12.6 (22.1) (3.8) (13.6)
Net working capital 126.5 127.2 120.5 64.5 41.8
Net invested capital 388.8 371.5 369.8 316.4 281.4
Group equity 787.7 728.9 707.6 654.8 573.6
Third parties equity 0.1 0.2 0.3 1.3
Equity 787.7 729.0 707.8 655.1 574.9
Assets held for sale - - - - 0.1
Net Financial Position (positive net cash) (398.9) (357.5) (338.0) (338.7) (293.4)

 

Statement of Cash Flows

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(M€)31.12.201831.12.201731.12.2016 31.12.2015 31.12.2014
Opening cash and cash equivalents 327.3 305.6 304.3   270.1   191.5
Gross cash flow from operating activities 152 133.9 154.1   162   149.1
Change in working capital (64.8) (45.6) (83.2)   8.9   (33.9)
Changes in other operating assets and liabilities (30.3) (38.2) (17.2)   (68.5)   (30.4)
Cash flow generated by (used in) operating activities 56.9 50.1 53.7   102.4   84.8
Cash flow used in ordinary investing activities (14.9) (19.5) (15.8)   (14.7)   9.1
Free operating cash-flow 42 30.6   37.9   87.7 75.7
Strategic investments 0 (3.1) (2.1)   (15.1)   (7.4)
Other changes in investing activities 0.1 3.8 3.2   6   -
Cash flow generated by (used in) investing activities (14,8) (18.8) (14.7)   (23.8)   (16.5)
Dividends paid - - (36.0)   (30)   (28.8)
Cash flow from financing activities (4.2) (1.6) (1.3)   (18)   34.5
Cash flow generated by (used in) financing activities            (4.2) (1.6) (37.3)   (48,0)   5.7
Exchange rate gain and losses, net (0,5) (8.0) 0.4   3.6   4.6
Closing cash and cash equivalents 364.7 327.3 305.6   304.3   270.1