RINA: Energy, Marine Propel Growth
International testing, inspection, certification and consulting engineering group RINA reports it has grown strongly during 2014, propelled by an upturn in marine, acquisition in the energy sector and international diversification. Turnover for 2014 grew 13 percent to Euro 333 million. EBITDA (adjusted) grew to Euro 37.7 million. Ugo Salerno, Chairman and CEO of RINA S.p.A., said, “2014 was an important year for RINA. We were not only able to seize opportunities for new business around the world such as major development projects in Egypt and Turkmenistan, but we were also able to take advantage of signs of recovery in shipping and opportunities in energy.
Marine Rebound Strengthens RINA Results
International engineering, testing, certification and classification group RINA has reported improved results for 2013. Its performance was strengthened by an upturn in marine activities and a drive to improve efficiency and drive down costs. RINA turnover for 2013 increased 4% to €294 million, while EBITDA was up 6% to €37.2 million. Ugo Salerno, RINA Chairman and CEO said, “Returning confidence in the global marine markets and a new management team which took on their responsibilities with enthusiasm at all levels meant the group exceeded expectations in 2013.
Intesa Sanpaolo, Vei Capital Invest in RINA
Intesa Sanpaolo, through the Merchant Banking Management of its Corporate and Investment Banking Division, and VEI Capital, investment company of Palladio Finanziaria in the Private Equity Mid-Cap segment, have agreed to buy a stake in RINA S.p.A., parent company of the RINA Group, Italy’s E-TIC (Engineering, Testing, Inspection, Certification) service provider. The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be underwritten by and shared equally between the two partners…
