Milan, 27th July 2016
- New orders at EUR 714.0 million (+53.7%)
- Order backlog at EUR 6,510.7 million (+4.0%)
- Revenue at EUR 602.7 million (-4.7%)
- EBIT at EUR 48.1 million (-17.0 %)
- Net result at EUR 27.3 million (-30.7%)
- Net Financial Position, positive net cash, at EUR (282.8) million (+2.3%)
- Guidance 2016 revised as relating to R.O.S. (Return on Sales) and Net Financial Position
The Board of Directors of Ansaldo STS (STS.MI), has examined and approved the Group's consolidated First-Half Financial Report at 30 June 2016.
New Orders during the first half of 2016 amount to EUR 714.0 million compared to EUR 464.6 million at 30 June 2015; Order Backlog is EUR 6,510.7 million (EUR 6,410.4 million at 31 December 2015, and EUR 6,261.6 million at 30 June 2015). The increase is mainly due to the acquisition of MRT Line System Sanying contract in Taiwan.
Revenue is EUR 602.7 million, a decrease of EUR 29.7 million compared to the 2015 first half value of EUR 632.4 million. The revenues have been negatively affected by the achievement of the final phase of some significant contracts in the Asia Pacific. This impact is significantly compensated by the production of new order orders.
Operating Income (EBIT) is EUR 48.1 million, compared to EUR 57.9 million at 30 June 2015, a decrease of about EUR 9.9 million substantially referable to the prudential provisions against the dispute with the Russian customer for the contract in Libya as a result of the arbitration outcome and the transaction costs due to the resignation of strategic managers.
Return on Sales (ROS) is 8.0% compared to 9.2% in the same period of the previous year. Without the extraordinary events impact referred in the above paragraph, the Return on Sales (ROS) would be substantially in line with the previous year.
Net Result is EUR 27.3 million (4.5% of revenue), a decrease of 30.7% compared to EUR 39.3 million at 30 June 2015, also for additional prudential provisions at financial costs level, resulting from the outcome of the arbitration on the contract in Libya.
The Chief Executive Officer and General Manager, Andrew Barr, stated: " I’m satisfied with the results and I would like to thank the management team and all the colleagues for the hard work they’ve done to achieve them and for the support they’re demonstrating to me at this very beginning of my engagement within the Company. I firmly believe that through the commitment of us all, Ansaldo STS will further grow and strengthen its position in Italy and on the global markets for the benefit of our people, our customers and partners and for creating value for all shareholders".