Financial Highlights

The 2016 financial year ended with a consolidated Net Result of EUR 77.9 million compared to EUR 93.0 million in 2015.

Revenue is EUR 1.327,4 million, decreased compared with the previous year’s value of EUR 1.383,8 million (-4.1%). The revenue decrease is due to shift to 2017 of some new orders and the completion of significant contracts in Asia Pacific region, which has been only partially compensated by the volumes realized on contracts acquired in the last years. 

Key consolidated figures (M€)31.12.201631.12.2015% Change
New orders1,475.81,336.010.5%
Order Backlog6,488.46,410.41.2% 
Tax Rate33.2%32.0%1.2%
Net Result77.993.0-16.3%
Net Working Capital120.564.586.9%
Net Financial Position (positive net cash)(338.0)(338.7)-0.2%
Headcount (no.)3.9513,7724.7%
Economic Value Added (EVA)57.965.8-12.0%

New orders amount to EUR 1.475,8 million compared with EUR 1.336,0 million in 2015, with an increase of 10.5%; in particular to be highlighted the projects awarded in Taiwan, Glasgow, Bruxelles and Italy for the Rome-Florence and Milan-Genoa (“Valico dei Giovi”) lines.

Order Backlog is EUR 6.488,4 million compared with 6.410,4 million of last year (+1.2%).

Operating income (EBIT) is EUR 126.8 million, a decrease of 6.6% compared with 2015 (135.5 million). Return on sales (ROS) is 9.6%, decreased compared with the previous financial year (9.8%). The reduction in operating income is mainly due to lower revenues, compensated by the better mix of the projects in the period, to the final settlement of the arbitration findings with the Russian customer on the Libyan contract (EUR 8.1 million) and to the transaction costs associated with the resignation of strategic managers (EUR 2.4 million).

Net invested capital at December 31st 2016 amounted to EUR 369.8 million, compared with EUR 316.4 million in the previous year.

Net working capital is EUR 102.5 million (64.5 million in 2015) mainly due to a reduction on progress payments and advances from customers.

Net Financial Position (positive net cash), amounts to EUR (338.0) million in line with 2015 EUR (338.7) million with the Free Operating Cash Flow at EUR 37.9 million compared to EUR 87.7 million in 2015. As regards the FOCF and the NFP to be highlighted that, in October 2016, the Company reimbursed the Russian client ZST with its share of the advance payment, in addition to legal expenses and accrued interests up to the return date (37.4 million). 

EPS of EUR 0.39 (EUR 0.47 in 2015) was calculated based on the average of n.199.996.346 outstanding shares in the year (n.199.995.192 shares in 2015).

Last updated 05/23/2017 - 11:53