RINA Reports Strong Growth

Tuesday, April 23, 2002
Italian classification society RINA has reported strong growth for its 2001 financial year. The consolidated revenues of the group were almost $94 million, up ten percent from last year's Euro 85.2 m. The pre tax operating margin was Euro 8.0 m, equivalent to 8.5 percent of the total revenues. Net profit after extraordinary expenses and investment in research and development and information technology was Euro 1.5 m. The shipping sector, RINA's traditional core business, accounted for Euro 60.6 m, sixty-six percent of the total revenues, the same as the previous year, in a mature business market. With the entry in class of the new cruise ships and cruise ferries, RINA has performed particularly well in an area of high added value, where RINA has a high profile. * 65 new contracts were concluded for newbuilding supervision on vessels aggregating 1.5m gt; * 184 new built ships entered RINA class, of an aggregate tonnage of 1.45m gt, more than thirty per cent more the total tonnage of ships entered in class during 2000. The total classed tonnage now stands at some 15.7 million gt.

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