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FINCANTIERI: BOARD OF DIRECTORS APPROVES RESULTS FOR FIRST HALF 2007 CONFIRMING THE POSITIVE PERFORMANCE OF THE GROUP
24 set 2007
24 set 2007
Value of Production and Gross Operating Margin improved compared with 1H 2006.
Net result at 26.5 million Euro in line with 1H 2006.
New orders at record level: 2.7 billion Euro (+ 34% over 1H 2006) and order book at 10.6 billion Euro ensuring the saturation of the production capacity for at least the next three years.
Strong increase of the investments in the shipyards, in line with the strategic plan and equal to 50.8 million Euro (+ 129% over 1H 2006).
Rome, September 24th 2007 – The Board of Directors of Fincantieri, meeting today in Rome, examined and approved the results for the first half of 2007:
• The Group has further improved the positive results attained in recent years and confirmed the success of its strategy focused on consolidating its position as market leader and improving its economic-financial performance. Value of production at 1,225.3 million Euro (+ 5.1% over the 1H 2006); Gross Operating Margin at 76.8 million Euro (+ 26.3% over the 1H 2006); Net Profit at 26.5 million Euro (in line with 1H 2006).
• New Orders have reached a record level of 2.7 billion Euro (+ 34% over 1H 2006) taking the order book to 10.6 billion Euro and thereby ensuring a full workload for the Group’s shipyards for at least the next three years.
Cruise ships: the Group has confirmed its market leadership with new orders for 5 ships from 4 different brands. In addition to consolidating the company’s relationship with Carnival Group, Fincantieri has successfully entered the sector of small-medium size luxury ships with new orders from Silversea and Oceania Cruises for a total of 3 ships plus an option for further 2 ships.
Ferries: the contract with Grimaldi Group for two cruise ferries has been renegotiated and finalized.
Special ships: the Group has acquired additional new orders for 8 ships from the German ship owner Hartmann Logistik .
Ship repairs and conversion: the Group has gained from Saipem an order for the completion and outfitting of an off-shore drilling vessel.
• Investments, in line with the strategic plan focused on the development of new businesses and on the reorganization of the logistic and production facilities of the merchant division shipyards, amounted to 50.8 million Euro (+128,8% over 1H 2006) well over the value of depreciation for the same period.
Net result at 26.5 million Euro in line with 1H 2006.
New orders at record level: 2.7 billion Euro (+ 34% over 1H 2006) and order book at 10.6 billion Euro ensuring the saturation of the production capacity for at least the next three years.
Strong increase of the investments in the shipyards, in line with the strategic plan and equal to 50.8 million Euro (+ 129% over 1H 2006).
Rome, September 24th 2007 – The Board of Directors of Fincantieri, meeting today in Rome, examined and approved the results for the first half of 2007:
• The Group has further improved the positive results attained in recent years and confirmed the success of its strategy focused on consolidating its position as market leader and improving its economic-financial performance. Value of production at 1,225.3 million Euro (+ 5.1% over the 1H 2006); Gross Operating Margin at 76.8 million Euro (+ 26.3% over the 1H 2006); Net Profit at 26.5 million Euro (in line with 1H 2006).
• New Orders have reached a record level of 2.7 billion Euro (+ 34% over 1H 2006) taking the order book to 10.6 billion Euro and thereby ensuring a full workload for the Group’s shipyards for at least the next three years.
Cruise ships: the Group has confirmed its market leadership with new orders for 5 ships from 4 different brands. In addition to consolidating the company’s relationship with Carnival Group, Fincantieri has successfully entered the sector of small-medium size luxury ships with new orders from Silversea and Oceania Cruises for a total of 3 ships plus an option for further 2 ships.
Ferries: the contract with Grimaldi Group for two cruise ferries has been renegotiated and finalized.
Special ships: the Group has acquired additional new orders for 8 ships from the German ship owner Hartmann Logistik .
Ship repairs and conversion: the Group has gained from Saipem an order for the completion and outfitting of an off-shore drilling vessel.
• Investments, in line with the strategic plan focused on the development of new businesses and on the reorganization of the logistic and production facilities of the merchant division shipyards, amounted to 50.8 million Euro (+128,8% over 1H 2006) well over the value of depreciation for the same period.