Fincantieri Half-year 2013 Growth Due to Vard Acquisition

MarineLink.com
Wednesday, July 24, 2013
Photo courtesy of Fincantieri

The Finacantieri Group reports being in a phase of strong growth thanks to the acquisition of Vard, & triples its first-half 2013 operating result compared to last year.

In summary:

• Operating result (EBIT) at euro 101 million
• EBITDA at euro 137 million with a margin of 7.1%
• Revenues at euro 1,934 million
• Net cash of euro 183 million
• Order portfolio at euro 10,889 million
• New order intake of euro 1,843 million

The first half of 2013 reports an EBIT of euro 101 million (euro 34 million at 30.06.2012), an EBITDA of euro 137 million (euro 68 million at 30.06.2012) and revenues of euro 1,934 million (euro 1,233 million at 30.06.2012). These positive operating results have been obtained in a market environment that remains challenging despite some initial signs of recovery, and have benefited from the first-time consolidation of the Vard group effective from 23 January 2013.
 
Giuseppe Bono, Fincantieri’s Chief Executive Officer, commented: "There are reasons to be reasonably optimistic about the future, especially if the Fincantieri system and the national system will achieve a unity of purposes focusing on sectors that stimulate exports and employment and attract major foreign investments in Italy."

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

MN 100: ContainerTug B.V.

The Company: ContainerTug B.V. is a specialized Dutch naval design engineering and construction company with a strong focus on developing workboats and the evaluation

Oman Drydock Company Expands Rapidly

Oman Drydock Company (ODC) is growing fast. In January, the yard hit an important milestone - its 300th drydocking. Harnessing the power of its new $1.8 billion, 1.

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

Finance

TASI Acquires SignalFire Telemetry

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition

DP World Profit Up 22%

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3847 sec (3 req/sec)