Milan, 28th July 2017
- New orders at EUR 652.7 million (-8.6%)
- Order backlog at EUR 6,453.8 million (-0.9%)
- Revenue at EUR 635.8 million (+5.5%)
- EBIT at EUR 56.5 million (+17.5 %)
- Net result at EUR 42.8 million (+57.1%)
- Net Financial Position, positive net cash, at EUR (280.1) million (-0.9%)
- 2017 Guidance confirmed
The Board of Directors of Ansaldo STS (STS.MI), has examined and approved the Group's consolidated First-Half Financial Report at 30 June 2017.
New Orders during the first half of 2017 amount to EUR 652.7 million compared to EUR 714.0 million at 30 June 2016; Order Backlog is EUR 6,453.8 million (EUR 6,488.4 million at 31 December 2016, and EUR 6,510.7 million at 30 June 2016).
Revenue is EUR 635.8 million, an increase of EUR 33.1 million compared to the 2016 first half value of EUR 602.7 million; the improved performance in USA and the rest of Europe has more than offset the decline in the Asia Pacific area, due to the final phase of some significant projects.
Operating Income (EBIT) is EUR 56.5 million, compared to EUR 48.1 million at 30 June 2016, mainly due to higher production volumes, a different mix of project progress in the two periods and higher costs for commercial investments. The EBIT value in the first half of 2016 was penalized by the negative outcome of the arbitration in Libya (EUR 7.5 million) and the transaction costs associated with the resignation of strategic managers (EUR 2.4 million).
Return on Sales (ROS) is 8.9% compared to 8.0% in the same period of the previous year.
Net Result is EUR 42.8 million (4.5% of revenue), an increase of EUR 15.5 million compared to EUR 27.3 million at 30 June 2016; It should be noted that in the first half of 2016 additional prudential provisions were posted in financial expenses, as a result of the arbitration on the Libyan project (EUR 7.0 million), in addition to what above mentioned.
The Chief Executive Officer and General Manager, Andrew Barr, stated: " After over one year as the CEO of Ansaldo STS I am happy with these results for the first half of 2017. During my time so far I have been able to travel to a significant number of the company sites around the world and meet many of the staff. This has enabled me to understand the commitment and capability within the company. Ansaldo STS remains strong in the market and we are continuing to ensure the performance remains strong .“