SHARE
FINCANTIERI: FIRST HALF 2006, POSITIVE RESULTS CONFIRMED
02 ott 2006
02 ott 2006
Fincantieri’s Board of Directors have met today to examine the half year report which reports positive results with a consolidated pre-tax profit of 60 million Euros, up on the 51.2 million Euros in the same period 2005, despite the difficulties arising from -international scenario with a weakening of the dollar and ongoing tension in raw materials base markets. Fincantieri has also experienced a significant increase in the cost of work, above all as a result of contract changes which came into force at the beginning of the year.
Consolidated net profit for the period is equal to26.4 million Euros (23.1 in 2005), while production value - is 1,171 million Euros – increased by 11.4% compared to 1,051 million Euros in the first six months of 2005.The net financial position is highly positive.
Thanks to the company’s effective commercial efforts, and despite a general drop in demand for new buildings, orders gained in the period are worth over 3,300 million Euros, compared to approximately 850 million Euros for the previous year. This is mainly due to consolidating the leadership of the Group in the large cruise ship sector, having finaized the contract with the Italian Navy for the construction of the first two multi-mission frigates (FREMM) and gaining the first order to build a mega-yacht.
As a result, on the 30th June 2006 the order book stood at approximately 9.3 billion Euros, a substantial increase on the figure reported at the end of 2005 (7.8 billion Euros), with the prospect of reaching over 10 billion Euros by the end of the year. This guarantees that the production capacity of the Group’s shipyards is already saturated with a workload of 3 years.
In the second half of the year Fincantieri, notwithstanding the above-mentioned difficulties, expects to maintain its leading position in its business areas, increase its presence in the mega-yacht segment and in the field of naval repairs and transformation and reach an economic result substantially in line with 2005.
Consolidated net profit for the period is equal to26.4 million Euros (23.1 in 2005), while production value - is 1,171 million Euros – increased by 11.4% compared to 1,051 million Euros in the first six months of 2005.The net financial position is highly positive.
Thanks to the company’s effective commercial efforts, and despite a general drop in demand for new buildings, orders gained in the period are worth over 3,300 million Euros, compared to approximately 850 million Euros for the previous year. This is mainly due to consolidating the leadership of the Group in the large cruise ship sector, having finaized the contract with the Italian Navy for the construction of the first two multi-mission frigates (FREMM) and gaining the first order to build a mega-yacht.
As a result, on the 30th June 2006 the order book stood at approximately 9.3 billion Euros, a substantial increase on the figure reported at the end of 2005 (7.8 billion Euros), with the prospect of reaching over 10 billion Euros by the end of the year. This guarantees that the production capacity of the Group’s shipyards is already saturated with a workload of 3 years.
In the second half of the year Fincantieri, notwithstanding the above-mentioned difficulties, expects to maintain its leading position in its business areas, increase its presence in the mega-yacht segment and in the field of naval repairs and transformation and reach an economic result substantially in line with 2005.