Lunedì, 22 Ottobre 2018

State shipbuilder fincantieri first semester profits up 62%


(ANSA) - Rome, July 30 - Italy's state-owned ship builder
Fincantieri saw first-semester profits rise 62.5% over the same
period in 2011, to 26 million euros from 16 million euros on
June 30, 2011.
Profits are still just a sliver of total revenues, which
amounted to 1.233 billion euros over the first six months, up
4.8% over the same period last year.
But Fincantieri's net financial position more than
quintupled from January to June, rising from 166 million euros
at the end of 2011 to 909 million euros at the end of June.
Earnings before interest, taxes, depreciation and
amortization (EBITDA) rose 15.2% to 68 million euros as of June
"The ongoing reorganization process, initiated thanks to an
agreement with the unions and the government, it proving its
worth," Fincantieri CFO Giuseppe Bono said in a statement.
Bono said the shipbuilding trade suffered severely in the
first half of this year, though, with widespread economic
While the company acquired just 488 million euros worth of
new orders in the first half of 2012 - roughly half of the 874
million euros worth of contracts signed in the same period of
That left Fincantieri with 7.069 billion euros worth of
orders in the pipeline, down from 7.92 billion at June 30.
But Fincantieri finalized a number of major shipbuilding
contracts this month, after the close of the first semester
balance sheet.
Fincantieri will be building two, small luxury cruise ships
for Viking Ocean Cruises, and a state-of-the-art ferry for
Societe des Traversiers du Quebec in Canada.
Fincantieri did not disclose the value of the contract with
Viking, but said the two super luxury ships, to be delivered in
2015 and 2016, would have a total of 472 cabins and passenger
capacity of 944.
The new, latest-generation ferry for the transport company
STQ is worth 148 million Canadian dollars, and is to be
delivered in late 2014.
The new ferry will be advanced in terms of energy savings,
low environmental impact and high maneuverability.

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