- Order backlog at EUR 6,315.5 million (-2.1%);
- New Orders at EUR 225.4 million (-15.3%);
- Revenue of EUR 318.5 million (+6.5%);
- EBIT at EUR 26.2 million (+1.2%);
- Net Result of EUR 21.5 million (+7.6%);
- Net Financial Position, positive net cash, at EUR (332.3) million (+1.6%).
The Board of Directors of Ansaldo STS (STS.MI) has examined and approved the Interim Consolidated Management Report of the Group at 31 March 2018.
The Chief Executive Officer and General Manager, Andy Barr, said: “The Company performance in the first quarter of this year is in line with our expectations. We are focussing on the delivery of our major projects to ensure we continue this trend and to reach our target”.
Order Backlog is EUR 6,315.5 million (EUR 6,454.0 million at 31 March 2017); New Orders at 31 March 2018 amount to EUR 225.4 million, decreased compared with EUR 266.1 million at 31 March 2017, also due to the shifting of some important opportunities.
Revenue is EUR 318.5 million, an increase of EUR 19.4 million compared with the 2017 first three months value of EUR 299.1 million. Specifically, the improved performance is due to the higher progress of the projects in Italy and in the Asia-Pacific area.
Operating Income (EBIT) is EUR 26.2 million, with an increase of EUR 0.3 million compared with 31 March 2017; Return on Sales (ROS) is 8.2% compared with 8.7% in the same period of the previous year. In particular the period is characterized by higher production volumes and higher Research and Development investments.
Starting from 1st January 2018 it is adopted the new IFRS15 accounting standard for the revenue recognition; specifically, for 2018 first quarter the total variation in terms of revenues and EBIT, if the new rule had not been applied, is estimated at around EUR 1.5 million which would confirm the ROS at around 8.7%, practically in line with the first quarter of the previous year.
Net Result is EUR 21.5 million (EUR 20.0 million at 31 March 2017).