Fincantieri 2012 Profits Up on Previous Year

Press Release
Tuesday, February 26, 2013

Shipbuilders, Fincantieri, publish its 2012 financial results; announce resignation of Chairman Corrado Antonini.

Highlights:

·         Profit for the year in excess of euro 15 million (euro 9 million in 2011);
·         EBITDA at euro 137 million (euro 138 million in 2011) with a margin of 5.7%;
·         Revenues at euro 2,385 million (euro 2,382 million in 2011);
·         Positive net financial position of euro 480 million (euro 166 million in 2011), with available cash of euro 692 million;
·         Order portfolio at euro 7,817 million (euro 8,361 million in 2011).

Commercially, Fincantieri succeeded in making the best of the available opportunities, finalizing agreements for new orders, including options, worth a total of euro 6.5 billion. This figure includes euro 1.4 billion in finalized contracts, while the remaining agreements are all subject to finalization of the related financial packages. In particular, in the merchant vessels business unit, contracts were signed for the construction of two cruise ships for Viking Ocean Cruises and an order was secured from Société des traversiers du Québec in Canada for the construction of a dual-fuel latest generation ferry featuring an innovative propulsion system.

In the naval vessels business unit, Fincantieri Marine Group, Fincantieri's US subsidiary, secured an order to build two LCS (Littoral Combat Ships) for the US Navy (under a contract for 10 ships signed at the end of 2010), and an order for 40 small patrol boats for the US Coast Guard. Lastly, the repairs and conversion business unit received euro 66 million in orders, while euro 77 million in orders were placed with the systems and components business unit.

Giuseppe Bono, Fincantieri's Chief Executive Officer, said: "The results achieved in 2012, despite the endurance of a fairly difficult frame of reference, and the acquisition of STX OSV, a leading operator in the high value-added offshore sector, mainly financed with our own resources, allow us to strengthen our existing leadership positions and to look more optimistically to a future of growth. This, along with implementation of the reorganization plan agreed with the unions aimed at restoring productivity and increasing flexibility, creates the conditions for the Italian shipyards to remain in business, with a solid economic and financial position."
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Strategic Marine Building Luxury Crewboat

Strategic Marine announced the kick-off of its first collaboration with PT. Pelayaran Tanjung Kumawa, expecting to deliver an exclusive luxury crewboat in November this year.

Full-term Certificates for “MV. Ceylon Breeze” from DNV GL

DNV GL has added to its registry as of March 2016 a new vessel built for Ceylon Shipping Corporation (CSC), a fully Sri Lanka Government-owned commercial enterprise

Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached

Finance

Harding Sold to Palfinger

The PALFINGER Group has signed today the acquisition of 100 per cent of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group.

Singapore Shipping Profits Up

Singapore Shipping Corporation(SSC)'s  net profit increased 7.8 per cent to US$9.6 million for the financial year ended March 31, 2016, compared to the previous year.

Shipping Corp Seafarers on Hunger Strike

Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.0842 sec (12 req/sec)