SHARE
SHAREHOLDERS APPROVE 2007 FINANCIAL STATEMENT AND PAY DIVIDEND
29 apr 2008
29 apr 2008
Increase in Value of Production (+8.4%) – Order book at record level (12 billion Euro)
Meeting today in Trieste, Fincantieri’s Shareholders have approved the financial statement for the year ending 31st December 2007, which was examined by the Board of Directors last March 28th. For the fourth successive year the Shareholders approved distribution of a dividend of 10.1 million Euros, equivalent to 3% of share capital.
The Group has further improved the positive results attained in recent years, notwithstanding the negative effects of Euro appreciation against the US dollar, and confirmed the success of its strategy focused on consolidating its position as market leader. Value of Production of 2,673 million Euro (+8.4% compared to 2006); Gross Operating Margin of 182 million Euro (+15.2% compared to 2006); Net Profit of 45 million Euro. For the first time the consolidated financial statements have been prepared in accordance to International Financial Reporting Standards (IFRS): as a consequence the 2007, 2006 and 2005 income statement, balance sheet and cash flow statements have been revised in accordance to the abovementioned principles of accounting and are therefore different from those prepared in accordance with Italian accounting principles.
New Orders have reached a record level of 4.2 billion Euro taking the order book to 12.0 billion Euro and thereby ensuring a full workload for the shipyards for at least the next three years.
Investments amounting to 116 million Euro increased compared to the previous period (+63% compared to 2006) are in line with the industrial plan and are aimed at the development of new businesses and re-arrangement of the logistics and production processes of the shipyards. Investments in research and development amounting to 51 million Euro increased slightly compared to the previous year.
Labour force totalling 9,358 employees as of the end of the reporting period increased significantly compared to 2006 (+200 employees). During the year the Company invested more than 100,000 hours in training approximately 50% of its employees.
The financial statements of Fincantieri SpA show the following positive results: Value of Production equal to 2,639.7 million Euro (+8.5% compared to 2006), gross operating margin equal to 180.2 million Euro (+15.2% compared to 2006), operating income equal to 129 million Euro (+0.5% compared to 2006), net income before income tax expense equal to 78.3 million Euro, net income equal to 44.5 million Euro, positive net financial position equal to Euro 165.2 million.
Trieste, 29 April 2008
Meeting today in Trieste, Fincantieri’s Shareholders have approved the financial statement for the year ending 31st December 2007, which was examined by the Board of Directors last March 28th. For the fourth successive year the Shareholders approved distribution of a dividend of 10.1 million Euros, equivalent to 3% of share capital.
The Group has further improved the positive results attained in recent years, notwithstanding the negative effects of Euro appreciation against the US dollar, and confirmed the success of its strategy focused on consolidating its position as market leader. Value of Production of 2,673 million Euro (+8.4% compared to 2006); Gross Operating Margin of 182 million Euro (+15.2% compared to 2006); Net Profit of 45 million Euro. For the first time the consolidated financial statements have been prepared in accordance to International Financial Reporting Standards (IFRS): as a consequence the 2007, 2006 and 2005 income statement, balance sheet and cash flow statements have been revised in accordance to the abovementioned principles of accounting and are therefore different from those prepared in accordance with Italian accounting principles.
New Orders have reached a record level of 4.2 billion Euro taking the order book to 12.0 billion Euro and thereby ensuring a full workload for the shipyards for at least the next three years.
Investments amounting to 116 million Euro increased compared to the previous period (+63% compared to 2006) are in line with the industrial plan and are aimed at the development of new businesses and re-arrangement of the logistics and production processes of the shipyards. Investments in research and development amounting to 51 million Euro increased slightly compared to the previous year.
Labour force totalling 9,358 employees as of the end of the reporting period increased significantly compared to 2006 (+200 employees). During the year the Company invested more than 100,000 hours in training approximately 50% of its employees.
The financial statements of Fincantieri SpA show the following positive results: Value of Production equal to 2,639.7 million Euro (+8.5% compared to 2006), gross operating margin equal to 180.2 million Euro (+15.2% compared to 2006), operating income equal to 129 million Euro (+0.5% compared to 2006), net income before income tax expense equal to 78.3 million Euro, net income equal to 44.5 million Euro, positive net financial position equal to Euro 165.2 million.
Trieste, 29 April 2008