Fincantieri's First Half 2012 Results Confirm Positive Strengths

Press Release
Tuesday, July 31, 2012

First half year 2012 financial results confirm the Italian shipbuilder's positive operating performance

Highlighted in the report were:

    •            Profit from ordinary operations at euro 26 million (16 million at 30/6/11, +62.5%)
    •            EBITDA at euro 68 million (59 million at 30/6/2011, +15.2%) with 5.5%
    •            Revenues at euro 1,233 million (1,176 million at 30/6/11, +4.8%)
    •            Cash surplus of euro 909 million, versus euro 166 million at end 2011
    •            Order portfolio at euro 7,069 million (7,920 million at 30/6/11)

Giuseppe Bono, Fincantieri Chief Executive Officer, commented: "We are pleased with these results, giving cause for optimism to the company and its employees. The ongoing reorganization process, initiated thanks to an agreement with the unions and the government, is proving its worth. The acquisition of the latest orders from Viking Ocean Cruises and Société des traversiers du Quebec also testify to the foresight of company policies, aimed at seeking new customers and new markets with exceptionally innovative products."


 


Finance

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

People in the News

Why Maritime Museums Matter

With today’s focus on digital technology, mobile apps, enhanced reality and the overall digital landscape, the maritime industry often gets overshadowed, leaving some to ask,

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage 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: 0.1263 sec (8 req/sec)