In the first nine months of the 2014 Fincantieri it has recorded a decrease of the result of exercise and an increase of the orders



The navalmeccanico group Italian Fincantieri has closed the first nine months of the 2014 with a result of exercise of 43 million euros on revenues for 2.935 million euros respect to a result of exercise of 53 million euros on revenues for 2.715 million euros in the period January-september last year. EBITDA and EBIT have attested respective to 207 million euros and 132 million euros. The group has announced that the position clean financial institution has turned out negative for -238 million euros respect to a value negative for -155 million euros on December 31, 2013. Moreover the exercise capital clearly has turned out of 353 million euros (negative for -67 million euros on December 31, 2013), of which construction loans for 584 million euros (563 million euros on December 31, 2013). The investments are piled 110 million euros (201 million euros on September 30, 2013). The free cash flow negative for -475 million euros on September 30, 2013) mainly for the resources absorbed from the operating activities has turned out negative for -419 million euros (pairs to 300 million euros.

In the first nine months of this Fincantieri year it has acquired new orders for 4.247 million euros regarding 3.971 million euros in the correspondent period of 2013. The pocketbook orders on 30 September was pairs to 9.472 million euros regarding 8.089 million euros on September 30, 2013.

"In the first nine months of 2014 - the managing director of Fincantieri has commented, Giuseppe Bono - we have found an increase of the acquired orders, in particular in the business of the cruise ships, and a positive course of the revenues in all the fields in which the group work, recording a progressive resumption of the volumes in the Italian sites with eight cruise ships currently under construction regarding the four of the same period of last year. In spite of the difficulties of ours controlled Vard in the third trimester, the group has maintained to an EBITDA margin stable to 7.1% graces also to the effects of the strategy of diversification of the adopted business. Own in this optical in fact - it has remembered - is concluded in the last weeks two important comes to an agreement of cooperation in the soldier and the offshore one, respective with Finmeccanica and Technip, that they will ulteriorly support the conditions for the continuous development of the society".

With respect to the course of the operating activity of the group, Fincantieri has confirmed the trend of increment "of the new orders in the Shipbuilding segment in particular regarding the area of business of the cruise ships where - it has explained the group - records the first positive impacts in terms of resumption of the volumes on the Italian yards of the group"; moreover you it has been the "definition with Marina Militare Italiana of the configuration of the first two ships of the plan of I renew of the fleet and the prosecuzione of the work kinsmen for the definition of the configurations of the other ships, which premises to the formalizzazione of contracts". In the Offshore segment, in the third trimester a slow down of the orders "had to the decrease of the price of the oil and to the contraction of the expectations of expense for the extraction and the perforation is recorded, with margins impattatati from the slowest increment of the productivity of the activities in Brazil and from the overcoming of the provisional costs for a limited number of projects of the European pocketbook orders".