Fincantieri boasts positive net result

FinanceThe Board of Directors of Fincantieri S.p.A has approved figures at September 30 whose results show an EBITDA of 5.7%, meaning a marked improvement compared to last year’s 0.2%, and in line with the targets set out in the Business Plan 2016-2020.

Profit before extraordinary and non-recurring income and expenses was MEUR 30 (against a net loss of MEUR 169 at September 30, 2015).
The backlog of MEUR 21.800, covering approximately 5.2 years of work if compared to 2015 revenues, has 106 ships in the order book.

Most of the Group's debt (net debt of MEUR 625 against MEUR 438 in December 31, 2015) is used to finance current assets associated with cruise ship construction and thus directly connected with financing of net working capital.
The change in Net financial position is mainly due to financial flows typical of the cruise ship business whose volumes have grown significantly with one ship due for delivery in last quarter 2016 and three due for delivery in first three months of 2017.

The scheme of a medium-long term incentive plan for top management based on stock grant, to be submitted for approval to the Shareholders' Meeting that will be convened to approve the financial statements for the fiscal year 2016, was approved.

Nov 14 2016