In increase the financial results of Fincantieri and Vard in the third trimester



In the third trimester and the first nine months of this year the navalmeccanico group Italian Fincantieri and its controlled Norwegian Vard have obtained an sensitive improvement of the financial results. Relatively to Fincantieri, the managing director of the group, Giuseppe Bono has emphasized that the first nine months of the 2016 have recorded "a series of very important successes that together with achieved the managerial and economic results they allow us to confirm in full load the objectives of the Industrial Plan. Besides to reach levels workload record thanks to historical commercial goals as the contract with the Defense Ministry of Qatar - it has explained - we have thrown the bases for the income in an enormous market from the potential one as that Chinese crocieristico". "The current performance of the group - it has continued Bono - today allows us to assert that also the waited for results for the 2017 will be coherent with the objectives of the Industrial Plan, which, thanks to the regulating new important acquisition in the course of the first nine months of 2016, anticipates almost completes cover of the revenues". As for Vard, "it relieves - the managing director of the company has asserted to us, Roy Reite - the fact who give the start of our programs of diversification at the beginning of the 2016 we have completed promising progresses in various fields. While we tighten relations with new customers and we adapt ourselves to the question in new markets - it has specified Reite - we continue to focus itself on the development of new businesses in order to maintain stable the activity in our yards and in order to safeguard the position of Vard in a difficult phase for the field".

The Fincantieri group has concluded the third trimester of this year with a profit clearly of 11 million euros respect to a net loss of -77 million euros in the period July-september of 2015. The revenues are increased of +18.7% attesting itself to 964 million euros. The EBITDA and the EBIT have been pairs respective to 72 million and 44 million euros regarding sign results negative for -122 million and -148 million euros in the third trimester last year.

In the third trimester of the 2016 Fincantieri it has obtained new orders for a value pairs to 457 million euros, with a decrease of the -33,0% regarding the same period of 2015. The value of the orderbook on 30 September turned out pairs to 24,5 billion euros, with an increase of +39.3% regarding on September 30, 2015.

The Italian group clearly has archived item the first nine months of the 2016 with a profit of 16 million euros respect to a net loss of -96 million euros in the correspondent period last year. The revenues have grown of +6.5% to 3,2 billion euros. The EBITDA has been pairs to 185 million euros regarding six million euro in the first nine months of 2015 and the operating result has been of positive sign for 105 million euros respect to a result of sign negative for -74 million euros in the correspondent period of 2015.

In the first nine months of this Fincantieri year it has confiscated new orders for a total of 6,3 billion euros (+30.0%). The total workload of the group (Fincantieri more Vard) turns out pairs to 21,8 billion euros and - it has specified Fincantieri - pairs to about 5,2 years of job if rapportato to the revenues of 2015. The organic one of the group on 30 September was constituted by 18.727 people regarding 20.868 on September 30, 2015.

Vard has closed the third trimester of 2016 with a net loss of -104 million Norwegian crowns (- 11 million euros) respect to a net loss of -845 million Norwegian crowns in the period July-september last year. The revenues have shown a bending of -33,8% coming down to the 1,5 billion one Norwegian crowns and the operating result has been of sign negative for -45 million Norwegian crowns respect to a result of sign negative for -554 million Norwegian crowns in the third trimester of 2015.

In the third trimester of this Vard year it has totaled new orders for 3,3 billion Norwegian crowns (+129.3%) and the value of the pocketbook orders on 30 September has been attested to 14,1 billion Norwegian crowns regarding 14,0 billion on September 30, 2015.

Vard has concluded the first nine months of this year with a net loss of -128 million Norwegian crowns on revenues pairs to 5,7 billion Norwegian crowns respect to a net loss of -1,1 billion Norwegian crowns on revenues pairs to 7,8 billion Norwegian crowns in the period January-september of 2015. The operating result has been negative for -128 million Norwegian crowns respect to a result negative for -566 million Norwegian crowns in the exercise precedence. In the first nine months of the 2016 new orders Norwegian crowns (+285.0% are piled almost 10,2 billion).