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FINCANTIERI: VARD PROFIT WARNING FOR Q3 2015 AND FY 2015 RESULTS.
15 ott 2015
15 ott 2015
Trieste, 15 October 2015 – FINCANTIERI S.p.A. (“Fincantieri” or the “Company”) announces that Vard Holdings Limited (“VARD”) issued today a Profit Warning (“VARD Profit Warning”) regarding the financial results for the third quarter ended 30 September 2015 (“Q3 2015”) and the full year ending 31 December 2015 (“FY 2015”).
VARD indicated that with reference to the disclosure given in Q1 and Q2 2015, regarding operational challenges at the group’s Brazilian shipyards, combined with the negative trend in the Brazilian economic and political environment, the results for the third quarter ended 30 September 2015 and the full year ending 31 December 2015 will be materially negatively affected.
Details of the Vard group performance will be disclosed at the Q3 2015 results release, scheduled for 11 November 2015 (Singapore date).
In order to enable investors to correctly assess the impact of VARD Profit Warning on Fincantieri, investors are reminded that VARD is 55.63% controlled by Fincantieri which fully consolidates it.
With the same purpose, investors are also reminded that in 1H 2015 VARD revenues represented 27.5% of Fincantieri consolidated revenues and almost 100% of Fincantieri Offshore segment revenues.
Fincantieri Interim management report at 30 September 2015 will be approved by the Board of Directors on 10 November 2015.
VARD indicated that with reference to the disclosure given in Q1 and Q2 2015, regarding operational challenges at the group’s Brazilian shipyards, combined with the negative trend in the Brazilian economic and political environment, the results for the third quarter ended 30 September 2015 and the full year ending 31 December 2015 will be materially negatively affected.
Details of the Vard group performance will be disclosed at the Q3 2015 results release, scheduled for 11 November 2015 (Singapore date).
In order to enable investors to correctly assess the impact of VARD Profit Warning on Fincantieri, investors are reminded that VARD is 55.63% controlled by Fincantieri which fully consolidates it.
With the same purpose, investors are also reminded that in 1H 2015 VARD revenues represented 27.5% of Fincantieri consolidated revenues and almost 100% of Fincantieri Offshore segment revenues.
Fincantieri Interim management report at 30 September 2015 will be approved by the Board of Directors on 10 November 2015.