In the 2016 Fincantieri it has recorded an improvement of the results with a return to the profit



Fincantieri has closed the 2016 with a profit clearly of 14 million euros respect to a net loss of -289 million euros in the exercise anniversary precedence. The profit clearly before not recurrent and extraordinary burdens has turned out pairs to 60 million euros respect to a sign result negative for -252 million euros in 2015. The revenues have grown of +5.9% attesting itself to 4,43 billion euros regarding 4,18 billion euros in 2015. EBITDA and EBIT have been both of positive sign and pairs respective to 267 million and 157 million euros regarding sign results negative for -26 million and -137 million euros in the year precedence.

Last year the Italian navalmeccanico group has obtained new orders for a value pairs to 6,50 billion euros, with a decrease of the -35,5% regarding 2015. The value of the pocketbook orders on December 31, 2016 turned out pairs to 24,00 billion euros, in increase of +8.8% on on December 31, 2015. To end the 2016 total workload turned out to be pairs to 24,03 billion euros (18,72 billion to end 2015) and about 5,4 years of job.

Fincantieri has specified that in the confiscated total orders last year, to the gross one of the consolidations, the Shipbuilding field hung for 80% (91% on December 31, 2015), the Offshore field for 17% (4% on December 31, 2015) and the field Systems, Members and Services for 10% (8% on December 31, 2015). Regarding the Shipbuilding field, with reference to the area of business of the military ships, in the 2016 group store clerk from the Defense Ministry of Qatar for the supply of seven ships of surface of new generation and services of support has acquired an important maxi post delivery (for the duration 15-year-old) to be carried out on the spot. Moreover, always with reference to the military ships, orders for a new unit of the program Littoral Combat Ship of the class "Freedom" (LCS 25) as a result of the exercise of the option by US Navy and for an unit ATB (Articulated Tug Barge) for the transport of the assets of oil the chemical field are obtained/that will be realized near the plant of Sturgeon Bay. In the within of the business of the cruise ships, Fincantieri has finalized in the period a contract with Carnival Corporation for the realization of an ulterior unit, in addition to the four previewed from the memorandum of agreement of December 2015, destined one to the brand Princess Cruises, and an agreement with the shipowning group Norwegian Cruise Line Holdings for the realization of the second cruise ship ultra destined luxury to the Regent Seven Seas Cruises brand. In the Offshore field, the Norwegian group Vard, that it is controlled by the Italian company, has finalized two important contracted respective with the Ponant shipowner for the realization of four ships expedition cruise and with the German shipowner Hapag- Lloyd Cruises for the realization of two unit, whose contracted it has become effective to beginning October 2016. Fincantieri has specified that such store clerks are the "result of the strategies of diversification of the business in response to the crisis of market of the field of the Oil&Gas" and that for both the store clerks are previewed the support and the supply of critical members by Fincantieri. Moreover in the 2016 Vard it has acquired important orders for the planning and realization of a total of 20 module carrier vessels that they guarantee an important workload for the yards in Rumania and Vietnam, 17 of which for the Marine shipowner Topaz Energy and three for the Kazmortransflot shipowner, beyond to an order for the construction of a destined fishing boat to Havfisk ASA. At last in the exercise the 2016 field Systems, Members and Services has seen the finalizzazione of orders for euro 664 million (regarding euro 773 million the year precedence).

The managing director of Fincantieri, Giuseppe Bono, has manifested satisfaction for the results recorded in 2016, than - he has specified - they are achieved "thanks to the effective implementation of the strategy to the base of our Industrial Plan 2016-2020. The total workload - it has emphasized - has exceeded once again levels record, attesting itself to 24 billion euros, to confirmation of the ability to the group to conclude important agreements. 2016 have moreover evidenced a meaningful resumption of the operating performance, with the punctual delivery of four cruise ships prototype many complex, and of that economic-financial institution, with revenues in increase, EBITDA margin pairs to 6% and trading profit in improvement of beyond 300 million euros: carried out deciding regarding 2015, year in which - it has found Bono - Fincantieri it has archived item the longest crisis of the field. The reached goals exceed the targets previewed for the year and they allow us beginning from to confirm the medium term objectives and the distribution of dividends profit 2017". Bono has turned "a thanks to all the workers, of the company and the induced one, that they have effectively contributed to the attainment of the results and to make of Fincantieri a recognized Italian excellence total level. This - it has concluded - turns out still more meaningful if it is considered that our produced and our processes are between more the complexes to the world".

With respect to the future perspectives, Fincantieri has explained that, "considered the results achieved in the 2016 and advance of the implementation of the strategic initiatives previewed and communicated at the market during presentation of Industrial Plan 2016-2020", the lines of participation are confirmed "traced in such Plan and the relative forecasts of short increase of and medium term, that is for 2018, to level consolidated, revenues in increase of the 16-23% regarding 2016, with margin EBITDA pairs to about a 6-7% and position negative clean financial institution pairs to about euro 0,4-0,6 billion, tied to dynamics of the floating capital clearly, and for the 2020 revenues in increase of the 16-21% regarding 2018, margin EBITDA pairs to about a 7-8% and position negative clean financial institution pairs to about euro 0,1-0,3 billion".

"For exercise 2017 - it has specified Fincantieri - they are previewed turned out online with the projections economic-financial institutions of Industrial Plan 2016-2020, taking into consideration the positive performance achieved in 2016. Online with such expectations, the group confirmation the wait of a distribution of dividend beginning from the profit of exercise 2017. Regarding in specific the Shipbuilding field one previews in a 2017 ulterior increase of the volumes and the improvement of the marginality for the mass in production of cruise ships, derived from the units prototype, and acquired after the crisis to advanced prices, and for the increment of the volumes of the military business as a result of the full start of the program of I renew of the fleet of Marina Militare Italiana and the activities of planning of the store clerk for the Defense Ministry of Qatar. The group, moreover, previews the prosecuzione of the actions finalized to the profit increment in particular through the ulterior important development productive synergies with the controlled Vard through uses it of the Rumanian yard of Tulcea to support of the Italian productive Network for the production of tronconi of cruise ships of great dimensions. Al fine to answer to the necessities induced from the important perspective workloads - it has still clarified Fincantieri - the society will continue moreover in the actions of optimization of the productive system and planning in Italy".

"With reference to the Offshore field - it has continued Fincantieri - the controlled Vard previews in the 2017 on one side progressive increase of the relative volumes to the actions of diversification of the business put in existence in the exercises precedence to the aim to answer to the crisis of the Core field of the Oil&Gas, in particular for the segment expedition cruise, and from the other the prosecuzione of the actions necessary to reduce the base costs and to optimize the productive system, to the aim to increase the competitiveness of the society in order to pick the opportunities that will be introduced to the resumption of the market. Permane however the meaningful exposure of the society to the construction of ships of the field of the Oil&Gas regarding the pocketbook orders in being".

At last, for the field Systems, Members and Services, Fincantieri it previews "the development of the acquired important backlog for I renew of the fleet of Marina Militare Italiana, as well as the follow-up of the strategy of reconfiguration of the garrison on value chain through the internalizzazione of the activities to the high added value and outsourcing of the activities to minor value, to the aim to strengthen the garrison on the produced one and to ulteriorly develop to the business of the post sale".