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

Shipbuilding

Willard to Supply Patrol Boats for the Philippines

The U.S. Department of State awarded a contract to boatbuilder Willard Marine, Inc., to provide the Philippine National Police Maritime Group with patrol vessels

Comprehensive Winch Outfitting for New Trawlers

Fishing company HB Grandi of Iceland recently awarded Naust Marine a contract for complete winch outfitting of three new 180 ft. fishing trawlers.   The contract,

CMA CGM Launches 18,000 TEU Containership

Container shipping firm CMA CGM Group has taken delivery of its newest colossal containership, the 18,000 TEU, 400-meter-long CMA CGM Bougainville.   Now the

Finance

Former CIA Spy Ship Becomes Victim of Oil Slump

A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is heading to the scrap yard, a victim of the slide in oil prices.   Christened the Hughes Glomar Explorer,

Greece Wants EU Funding to Tackle Migrant Influx

Greece will ask the European Union for about 700 million euros to build infrastructure to shelter the hundreds of refugees and migrants arriving on its shores daily, the government said on Thursday.

Asia-Europe Box Rates Soar Again

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 percent to $763 per 20-foot container (TEU) this week data from

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1770 sec (6 req/sec)