RINA Acquisitions Fuel Growth

International verification, certification and ship classification group RINA continued to grow in 2011 as it embarked on an acquisition strategy.

Turnover for 2011 was up to 249 million Euros (+21 per cent) and EBITDA 41 million Euros. Turnover is expected to rise to over 300 million Euros in 2012 following major acquisitions late in 2011.

“Two-thousand and eleven was a memorable year for RINA,” said Chairman and CEO Ugo Salerno. “We celebrated our 150th anniversary by transforming the company. Internally, we swept away old divisions and created a flexible matrix structure, which frees up innovation and enables us to make the best use of our talents, while improving customer service. Externally, we began a major program of acquisitions which enhanced our competences and increased our size by over half. We focussed our investments and growth on growing economies, strongly increasing our footprint in Asia. And we made sure the transformation is solidly based by trimming costs and sharpening our business processes.”

“Our acquisition program widens both our skill base and our geographical outreach,” he continued. “Among four companies brought into the RINA Group in 2012, the two key acquisitions were SIMTEX Srl, the leading private Romanian certification body for corporate management systems and products, and D’Appolonia Group, a global engineering consultancy company. SIMTEX gives us a strong platform for growth in the expanding economies of Eastern Europe. D’Appolonia’s 600 highly-skilled staff will boost our turnover by fifty per cent and bring us a new network of global offices and clients and expertise in strategic consultancy, earth sciences, civil, environmental and structural engineering, risk assessment, health and safety, chemical and process engineering, system and transport engineering, electronics, telecommunications and innovation engineering.”

RINA’s environmental business surged 200 per cent in 2011; certification outside Italy was up 30 per cent; and RINA increased market share in almost all sectors. Against a background of a globally difficult market for ship owners and shipyards, marine services continued to be the largest contributor to RINA’s turnover in 2011. The classed fleet grew by 8.5 per cent, to 4,375 ships, totalling 33m gt. And, despite the slowdown in global ordering, RINA closed the year with a strong order book of 425 ships, totalling 3.3m gt, building to RINA class.