- New orders at EUR 630.3 million (-31.1%)
- Order backlog at EUR 6,064.1 million (-5.0%)
- Revenue at EUR 983.9 million (+4.1%)
- EBIT at EUR 80.8 million (-4.4%)
- Net result at EUR 61.1 million (-0.8%)
- Net Financial Position, positive net cash, at EUR (315.8) million (+6.8%)
- Guidance for the period January 2018 – March 2019 approved
The Board of Directors of Ansaldo STS (STS.MI) has examined and approved the Group's consolidated financial report at 30 September 2018.
The Chief Executive Officer and General Manager, Andrew Barr, stated: “The Company performance in the first nine months of this year is positive. In particular, I am very happy for the recent letter of award of the Riyadh Operation & Maintenance contract, as this contract is in perfect alignment with the Business Strategy Overview to focus on the O&M business and we expect to book the order in this FY. It has a huge relevance for our company because it consolidates our O&M capability and our status of “Full Service Provider” in the rail industry. I’d like to thank, finally, the teams globally within Ansaldo STS for the continued successful delivery of our major projects”.
New Orders during the first nine months of 2018 amount to EUR 630.3 million compared to EUR 915.5 million at 30 September 2017; Order Backlog is EUR 6,064.1 million (EUR 6,457.5 million at 31 December 2017 and EUR 6,384.5 million at 30 September 2017).
Revenue is EUR 983.9 million, an increase of EUR 38.9 million compared to the 2017 first nine months value of EUR 945.0 million; the improved performance is due to the higher progress of the projects in Italy and in the Asia Pacific area, only partially offset by the lower production in Rest of Europe and Middle East.
Operating Income (EBIT) is EUR 80.8 million, compared to EUR 84.5 million at 30 September 2017; the Return on Sales (ROS) is 8.2%, compared to 8.9% in the same period of the previous year.
In particular, higher production volumes and higher Research and Development investments characterize the period.
Starting from 1st January 2018 it has been adopted the new IFRS15 accounting standard for the revenue recognition; specifically, for 2018 first nine months the total variation in terms of revenues and EBIT, without the application of the new accounting standard, is estimated at around EUR 5.8 million, which would confirm the ROS of 8.8%, practically in line with the first nine months of the previous year.
Net Result is EUR 61.1 million, a decrease of EUR 0.5 million compared to EUR 61.6 million at 30 September 2017.