As per the proposal submitted to the Shareholders’ Meeting

Income statement

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(M€)31.12.201731.12.201631.12.201531.12.201431.12.2013*
Revenue 1,361.0 1,327.4 1,383.8 1,303.5 1,229.8
Purchasing and personnel expenses (1,247.2) (1,182.4) (1,233.3) (1,159.7) (1,098.1)
Amortisation and depreciation (19.0) (18.3) (18.7) (18.3) (17.0)
Other net operating income (expense) 5.8 0.7 4.3 9.5 5.1
Changes in work in progress, semi-finished and finished goods 0.3 (0.5) (0.3) (4.5) (2.3)
EBIT Adjusted 100.8 126.8 135.8 130.5 117.5
Restructuring costs - - - (6,0) (0,5)
Operating Income (EBIT) 100.8 126.8 135.8 124.5 117.0
Net financial income (expense) (1.8) (10.2) 0.9 (0.5) (3.2)
Income taxes (34.2) (38.7) (43.7) (43.3) (39.1)
Profits/(Losses) from non-current assets for sale - - - - 0.1
Net Profit 64.9 77.9 93.0 80.7 74.8
Profit per share (Basic and Diluted) 0.32 0.39 0.47 0.43 0.40**

EPS of EUR 0.32 (EUR 0.39 in 2016) was calculated based on the average of n. 199,996,061 outstanding shares in the year (n. 199.996.346 shares in 2016).

*Restated Figures following the application of IFRS11 governing joint arrangements qualified as joint ventures, which are consolidated with the equity method as of 1 January 2014 (date of implementation by the Ansaldo STS Group). The 2013 figures have been updated to ensure a consistent comparison of the data compared.
** Recalculated following the bonus issue of 14 July 2014.

Statement of financial position

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(M€)31.12.201731.12.201631.12.201531.12.201431.12.2013*
Non-current assets 305.1 310.4 307.2 296.7 273.2
Non-current liabilities (60.8) (61.1) (55.3) (57.1) 50.4
 

244.3

249.3 251.9 239.6 222.8
Inventories 111.0 125.0 121.2 106.1 111.3
Contract work in progress 379.6 358.9 346.4 304.2 288.6
Trade receivables 736.6 728.9 663.6 710.6 625.5
Trade payables (413.6) (458.1) (416.0) (368.9) (355.2)
Progress payments and advances from customers (683.0) (598.0) (635.8) (686.2) (635.2)
Provisions for risks and charges (16.0) (14.1) (11.1) (10.4) (14.8)
Other net assets/(liabilities) 12.6 (22.1) (3.8) (13.6) 10.5
Net working capital 127.2 120.5 64.5 41.8 30.7
Net invested capital 371.5 369.8 316.4 281.4 253.5
Group equity 728.9 707.6 654.8 573.6 498.8
Third parties equity 0.1 0.2 0.3 1.3 0.3
Equity 729.0 707.8 655.1 574.9 499.1
Assets held for sale - - - 0.1 0.1
Net Financial Position (positive net cash) (357.5) (338.0) (338.7) (293.4) (245.5)

 

*Restated Figures following the application of IFRS11 governing joint arrangements qualified as joint ventures, which are consolidated with the equity method as of 1 January 2014 (date of implementation by the Ansaldo STS Group). The 2013 figures have been updated to ensure a consistent comparison of the data compared.

Statement of Cash Flows

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(M€)31.12.201731.12.2016 31.12.2015 31.12.201431.12.2013
Opening cash and cash equivalents 305.6 304.3   270.1   191.5 141.9
Gross cash flow from operating activities 133.9 154.1   162   149.1 139.5
Change in working capital (45.6) (83.2)   8.9   (33.9) (61.6)
Changes in other operating assets and liabilities (38.2) (17.2)   (68.5)   (30.4) (59.2)
Cash flow generated by (used in) operating activities 50.1 53.7   102.4   84.8 18.7
Cash flow used in ordinary investing activities (19.5) (15.8)   (14.7)   9.1 (9.4)
Free operating cash-flow 30.6   37.9   87.7 75.7 9.3
Strategic investments (3.1) (2.1)   (15.1)   (7.4) (3.5)
Other changes in investing activities 3.8 3.2   6   - (0.5)
Cash flow generated by (used in) investing activities (18.8) (14.7)   (23.8)   (16.5) (13.4)
Dividends paid - (36.0)   (30)   (28.8) (28.9)
Cash flow from financing activities (1.6) (1.3)   (18)   34.5 79
Cash flow generated by (used in) financing activities            (1.6) (37.3)   (48,0)   5.7 50.1
Exchange rate gain and losses, net (8.0) 0.4   3.6   4.6 (5.8)
Closing cash and cash equivalents 327.3 305.6   304.3   270.1 191.5