- New orders at EUR 496.6 million (-23.9%)
- Order backlog at EUR 6,259.7 million (-3.0%)
- Revenue at EUR 660.1 million (+3.8%)
- EBIT at EUR 54.4 million (-3.7%)
- Net result at EUR 41.3 million (-3.7%)
- Net Financial Position, positive net cash, at EUR (349.5) million (+24.8%)
The Board of Directors of Ansaldo STS (STS.MI) has examined and approved the Group's consolidated First-Six Months Financial Report at 30 June 2018.
The Chief Executive Officer and General Manager, Andrew Barr, stated: “The Company performance in the first six months of this year is positive. I am looking to the next period to ensure this trend can continue and we are focusing on new orders acquisition for the rest of this year. Alongside this, we are working to deliver the actions as outlined in the Business Strategy Overview”.
New Orders during the first six months of 2018 amount to EUR 496.6 million compared to EUR 652.7 million at 30 June 2017; Order Backlog is EUR 6,259.7 million (EUR 6,457.5 million at 31 December 2017 and EUR 6,453.8 million at 30 June 2017).
Revenue is EUR 660.1 million, an increase of EUR 24.3 million compared to the 2017 first six months value of EUR 635.8 million; the improved performance is due to the higher progress of the projects in Italy and in the Asia Pacific area.
Operating Income (EBIT) is EUR 54.4 million, compared to EUR 56.5 million at 30 June 2017; the Return on Sales (ROS) is 8.2%, compared to 8.9% in the same period of the previous year.
In particular the period is characterized by higher production volumes and higher Research and Development investments.
Starting from 1st January 2018 it has been adopted the new IFRS15 accounting standard for the revenue recognition; specifically, for 2018 first six months the total variation in terms of revenues and EBIT, without the application of the new accounting standard, is estimated at around EUR 3.7 million, which would confirm the ROS of 8.8%, practically in line with the first six months of the previous year.
Net Result is EUR 41.3 million, a decrease of EUR 1.5 million compared to EUR 42.8 million at 30 June 2017.