Finmeccanica: 2015 results in strong growth and above expectations

(To Finmeccanica)

The Board of Directors of Finmeccanica, which met today under the chairmanship of Gianni De Gennaro, examined and unanimously approved the draft financial statements and the consolidated financial statements for 31 December.

The 2015 was a turning point for Finmeccanica, the economic-financial year, with the full achievement of the first challenging goals set by the January 2015 business plan, including the stake in Ansaldo STS) the launch of the "One Company" and the achievement of results in strong growth and expectations.

The various initiatives are aimed at reviewing the Group's positioning in terms of business areas and product portfolio, defining and implementing a new operating model and pursuing appropriate efficiency, restructuring and development actions, in a different relationship with the market characterized by greater selectivity of the contracts acquired, which, together with the improvement in order performance. All of this is part of the Group's strategy to focus on a perimeter of Aerospace, Defense and Security, profitability and cash generation.

The 2015 results confirm the significant improvement of the Group from a financial and economic point of view compared to the previous year, in line with what has already been highlighted in particular, Finmeccanica recorded an increase in EBITDA at Ordinary Net Result, obtained by eliminating the Transportation sector , is 17 times higher than that of 2014 (€ mil. 253, compared to € mil. 15 in 2014).

The increase is even more significant at the Net Result level (including the aforementioned capital gain), which is equal to 26 times the profit of the 2014, going from € mil. 20 at € mil. 527. Similarly, free operating cash flow reached 307 million, compared to 2014 of € mil. 65, with a growth of 372%, contributing to reduce the Group's debt to 3.278 million (down by 17% compared to the end of 2014), also thanks to the successful conclusion of the sales operations in the Transportation sector, which generated a collection total net amount of 790 million euros, of which 761 million euros for the sale of the Ansaldo STS and Euro 68 million shares for the sale of the property complexes owned by FGS, against a negative value of 38 million for the Ansaldo branch Breda. Consequently the debt-to-equity fell to 0,76.

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