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Fincantieri: Shareholders approve the financial statement for 2004
02 mag 2005
02 mag 2005
The Shareholders’ Meeting of Fincantieri, which was held today in Trieste, has approved the financial statement for the year ending 31st December 2004; the statement reports a net profit of 99.5 million euros compared to 90.7 in 2003 (pre-tax profit amounts to 149.1 million euros compared to 82.8 the previous year).
The profit has been allocated as follows: 10.1 million euros (3% of share capital) as dividend, 4.9 million euros (5%) to the legal reserve and 83.6 million euros to the extraordinary reserve fund.
There has also been a substantial improvement in results at Group level. The operating result, at approximately 136 million euros compared to 122 in 2003, is equivalent to 6.2% of production value, which stands at 2,176.5 million euros. Net profit amounts to 101.1 million euros, compared to 93.1 in 2003 (pre-tax profit amounts to 152.0 million euros compared to 86.0 in 2003). Financial availability and positive net financial credits, amounting to 278.3 million euros compared to 113.9 the previous year, confirm that positive cash flow has been generated.
During the course of the year and in the first three months of 2005, orders were gained for eighteen new vessels in the three business areas in which the company operates (cruise, merchant and naval), for approximately 4,000 million euros compared to 1,350 in the period 01/01/03 - 31/03/04. Thanks to these orders the backlog amounts to approximately 6,000 million euros; the total value of the company’s order book is approximately 8,500 million euros.
During the course of the year, fully respecting contractual obligations, six vessels were delivered (four cruise ships and two merchant ships) and the future flagship of the Italian Navy, the aircraft carrier, the “Cavour”, was launched.
Finally, the Meeting also moved to add another member to the Board of Directors with the appointment of Mr. Francesco Parlato and renewed the mandate to the Board of Auditors whose members comprise Mr. Bruno Pucci, President, Mr. Pierluigi Alemanni and Mr. Sergio Trauner for the three year period 2005-2007.
The profit has been allocated as follows: 10.1 million euros (3% of share capital) as dividend, 4.9 million euros (5%) to the legal reserve and 83.6 million euros to the extraordinary reserve fund.
There has also been a substantial improvement in results at Group level. The operating result, at approximately 136 million euros compared to 122 in 2003, is equivalent to 6.2% of production value, which stands at 2,176.5 million euros. Net profit amounts to 101.1 million euros, compared to 93.1 in 2003 (pre-tax profit amounts to 152.0 million euros compared to 86.0 in 2003). Financial availability and positive net financial credits, amounting to 278.3 million euros compared to 113.9 the previous year, confirm that positive cash flow has been generated.
During the course of the year and in the first three months of 2005, orders were gained for eighteen new vessels in the three business areas in which the company operates (cruise, merchant and naval), for approximately 4,000 million euros compared to 1,350 in the period 01/01/03 - 31/03/04. Thanks to these orders the backlog amounts to approximately 6,000 million euros; the total value of the company’s order book is approximately 8,500 million euros.
During the course of the year, fully respecting contractual obligations, six vessels were delivered (four cruise ships and two merchant ships) and the future flagship of the Italian Navy, the aircraft carrier, the “Cavour”, was launched.
Finally, the Meeting also moved to add another member to the Board of Directors with the appointment of Mr. Francesco Parlato and renewed the mandate to the Board of Auditors whose members comprise Mr. Bruno Pucci, President, Mr. Pierluigi Alemanni and Mr. Sergio Trauner for the three year period 2005-2007.