31 October 2017, 13:15 pm

Milan, October 31st 2017

  • Order backlog at EUR 6,384.5 million (-0.9%)
  • New orders at EUR 915.5 million (-8.1%)
  • Revenue at EUR 945.0 million (+4.9 %)
  • EBIT at EUR 84.5 million (+9.8%)
  • Net result at EUR 61.6 million (+34.5%)
  • Net Financial Position, positive net cash, at EUR (295.7) million (+2.7%)

The Board of Directors of Ansaldo STS (STS.MI), has examined and approved by majority the Group's consolidated Financial Report at 30 September 2017.

New Orders at 30 September 2017 amount to EUR 915.5 million compared with EUR 996.1 million at 30 September 2016; Order Backlog is EUR 6,384.5 million (EUR 6,488.4 million at 31 December 2016, EUR 6,443.5 million at 30 September 2016).

Revenue is EUR 945.0 million, an increase of EUR 44.4 million compared with the 2016 nine months value of EUR 900.6 million. The improved performance of projects in the Americas and the Middle East more than compensated the reduction due to the final phase of some significant contracts in the Asia Pacific region.

Operating Income (EBIT) is EUR 84.5 million, with an increase of EUR 7.6 million compared to 30 September 2016; Return on Sales (ROS) is 8.9% compared with 8.5% in the same period of the previous year. In the first 2016 nine months the EBIT value was penalized by provisions for the negative outcomes of Libya's arbitration (EUR 7.5 million) and the transaction costs associated with the resignation of strategic managers (EUR 2.4 million).

Net Result is EUR 61.6 million (EUR 45.8 million at 30 September 2016). It should be noted that in the 2016 first nine months, additional provisions were posted in financial expenses as result of the findings of the arbitration on the Libyan contract (EUR 7.0 million), in addition to what above mentioned.

The Chief Executive Officer and General Manager, Andy Barr, commented on the results stating "Ansaldo STS continues to do a great job both in terms of results and investments for the future. Thanks to these results and the work of the management and colleagues we create achievements and additional profitable results in our business. This calls for increasingly innovative, reliable and competitive solutions to ensure we are on track in this challenging market”.