Milan, October 28th 2016
- Order backlog at EUR 6,443.5 million (+6.9%)
- New orders at EUR 996.1 million (+69.0%)
- Revenue at EUR 900.6 million (-5.5%)
- EBIT at EUR 77.0 million (-15.3%)
- Net result at EUR 45.8 million (-23.1%)
- Net Financial Position, positive net cash, at EUR (287.9) million (+4.0%)
The Board of Directors of ANSALDO STS (STS.MI), has examined and approved by majority the Group's consolidated Financial Report at 30 September 2016.
New Orders at 30 September 2016 amount to EUR 996.1 million compared with EUR 589.3 million at 30 September 2015; Order Backlog is EUR 6,443.5 million (EUR 6,410.4 million at 30 December 2015, EUR 6,029.2 million at 30 September 2015). Main orders for the period are related to projects in Taiwan, Glasgow, Brussels and the Rome-Florence line in Italy.
Revenue is EUR 900.6 million, a reduction of EUR 52.0 million compared with the 2015 nine months value of EUR 952.6 million. The production volume from projects secured in recent years has only partially offset the decline in revenues, in particular due to the completion phase of some significant contracts in the Asia Pacific area.
Operating Income (EBIT) is EUR 77.0 million, with a decrease of EUR 13.9 million at 30 September 2015; Return on Sales (ROS) is 8.5% compared with 9.5% in the same period of the previous year. The decrease in operating income is mainly due to lower production volumes, prudential provisions against arbitration findings with the Russian customer on the Libyan contract and the transaction costs associated with the resignation of strategic managers.
Net Result is EUR 45.8 million (EUR 59.5 million at 30 September 2015). The reduction of 23.1% is also due to additional prudential provisions in the financial charges coming from the findings of the arbitration on the Libyan contract.
The Chief Executive Officer and General Manager, Andy Barr, is satisfied with the Q3 results stating " I again thank the management and all my colleagues for the continuous work in producing these results. In particular the achievement of additional significant new orders and the delivery and activation of key signaling contracts this quarter are the evidence of Ansaldo STS performance and reliability. During my initial period with ASTS I have seen clearly that we are building a new future and a more efficient and competitive industrial reality in the market, and with our focus on the project delivery we will continue to grow, creating value for all shareholders.“