The document outlines an industrial plan presentation for Finmeccanica given by the CEO and CFO. It includes an agenda covering assessing inputs to the plan, strengthening the industrial plan, developing a strategic plan and conclusions. Under each section, there are details on Finmeccanica's past unsatisfactory performance, market analyses, and plans to improve profitability, cash generation, and portfolio focus through cost cutting and strategic assessments.
Finmeccanica Full Year 2013 Results PresentationLeonardo
The document summarizes Finmeccanica's FY2013 results presentation. It reports strong order intake but lower revenues due to cuts in defense spending. While most business divisions grew orders and maintained profitability, AnsaldoBreda and some Selex ES sectors faced challenges. Restructuring initiatives improved profitability across many divisions. Overall, the group met guidance but free cash flow was negative due to legacy contracts. The outlook for 2014 is positive if restructuring delivers further efficiency gains.
Finmeccanica First Quarter 2015 Result PresentationLeonardo
1) Finmeccanica reported a good start to 2015 with key metrics heading in the right direction, including revenues increasing above expectations and EBITA rising 11% with an improved ROS of 5.9%. (2) The company confirmed its FY2015 guidance and remains on track to execute its industrial plan and divisionalization process. (3) Focus remains on improving profitability and cash flow generation while reducing group net debt to below €3 billion by end of 2017.
- Finmeccanica reported strong financial results for the first 9 months of 2015, with a 44.7% increase in EBITA to €745 million and a positive net result of €122 million compared to a net loss in the prior year.
- Most sectors performed well with improvements in orders, revenues, and profitability compared to the previous year. Notably, Selex ES and DRS showed significant increases in EBITA.
- The company reaffirmed its guidance for the full year with expectations to meet or exceed targets for orders, revenues, EBITA, free operating cash flow, and net debt.
The document outlines an industrial plan presentation for Finmeccanica given by the CEO and CFO. It includes an agenda covering assessing inputs to the plan, strengthening the industrial plan, developing a strategic plan and conclusions. Under each section, there are details on Finmeccanica's past unsatisfactory performance, market analyses, and plans to improve profitability, cash generation, and portfolio focus through cost cutting and strategic assessments.
Finmeccanica Full Year 2013 Results PresentationLeonardo
The document summarizes Finmeccanica's FY2013 results presentation. It reports strong order intake but lower revenues due to cuts in defense spending. While most business divisions grew orders and maintained profitability, AnsaldoBreda and some Selex ES sectors faced challenges. Restructuring initiatives improved profitability across many divisions. Overall, the group met guidance but free cash flow was negative due to legacy contracts. The outlook for 2014 is positive if restructuring delivers further efficiency gains.
Finmeccanica First Quarter 2015 Result PresentationLeonardo
1) Finmeccanica reported a good start to 2015 with key metrics heading in the right direction, including revenues increasing above expectations and EBITA rising 11% with an improved ROS of 5.9%. (2) The company confirmed its FY2015 guidance and remains on track to execute its industrial plan and divisionalization process. (3) Focus remains on improving profitability and cash flow generation while reducing group net debt to below €3 billion by end of 2017.
- Finmeccanica reported strong financial results for the first 9 months of 2015, with a 44.7% increase in EBITA to €745 million and a positive net result of €122 million compared to a net loss in the prior year.
- Most sectors performed well with improvements in orders, revenues, and profitability compared to the previous year. Notably, Selex ES and DRS showed significant increases in EBITA.
- The company reaffirmed its guidance for the full year with expectations to meet or exceed targets for orders, revenues, EBITA, free operating cash flow, and net debt.
- Leonardo delivered strong results in the first 9 months of 2016 despite challenging market conditions, with record new orders of €15.5 billion driven by the €7.95 billion Eurofighter contract for Kuwait.
- Profitability improved with net income more than doubling to €343 million, supported by lower financial expenses.
- The company expects continued good performance in the fourth quarter and remains on track to meet full-year guidance.
Leonardo presented its 3Q/9M 2017 financial results. Helicopter division results were weaker than expected due to ongoing market and execution challenges. While Aeronautics and Defense Electronics results were broadly in line with expectations, the overall 2017 guidance was made tougher reflecting issues in Helicopters. Actions have been taken to address Helicopter issues including management changes and optimizing production processes. Overall, the company remains confident in its medium-term growth opportunities across its three key pillars of Helicopters, Defense Electronics, and Aeronautics.
3Q and 9M Results Presentation- November 08th 2013Leonardo
The document provides an overview of Finmeccanica's 3Q and 9M 2013 results and 2013 outlook. It discusses performance across various business segments, including Aeronautics, Helicopters, Defence Electronics, Space, and Transportation. Key highlights include strong underlying performance in Aeronautics & Helicopters, impact of US budget cuts on Defence Electronics as expected, and restructuring progress across businesses. The full year EBITA guidance is lowered by 5-10% due to challenges at Ansaldo Breda. The presentation also provides a strategic update, reaffirming Finmeccanica's priorities of restoring reputation, industrial restructuring, and portfolio rationalization.
- Revenue increased 11.6% to €199.6 million due to stable demand and good capacity utilization. EBITDA rose to €29.7 million compared to €18.8 million in the same quarter last year.
- Loss for the period improved to €-11.2 million from €-13.6 million in the prior year quarter. Loss per share declined from €-0.35 to €-0.29.
- Net debt increased to €496.7 million from €380.5 million due to investments of €69.7 million in tangible and intangible assets. The company decided not to further expand its IC substrate plant in China in the current financial year.
Leonardo reported solid results for the first nine months of 2021, with orders up 8.9% and revenues up 6%. The company's military/government business performed strongly and remains resilient, accounting for 87% of revenues. Results were above 2019 levels for the military sector. Aerostructures was in line with expectations, though civil aeronautics remains challenged by COVID. The company confirmed its full-year 2021 guidance and strong liquidity position. It also signed its first ESG-linked credit facility, extending its commitment to sustainability.
- Revenue increased 6.8% to a record €814.9 million, outperforming the general market, but earnings were negatively impacted by start-up costs associated with the Chongqing plant expansion.
- The core printed circuit board business remained profitable with EBITDA margins above 25%, but earnings were lower due to price pressure and lost production capacity during plant upgrades.
- The expansion in Chongqing faced technical challenges, resulting in longer ramp-up times and lower profits from IC substrates. A second production line started in September.
- The losses for the period and negative earnings per share were due to the lower EBITDA and higher depreciation/financing costs.
-
Chief Executive Officer Alessandro Profumo presented on March 14th the FY2018 Results along with:
- Alessandra Genco - Chief Financial Officer
- Norman Bone - MD Electronics Division
- Gian PIero Cutillo - MD Helicopter Division
- Lucio Valerio Cioffi - MD Aircarft Division
- William J. "Bill" Lynn - CEO of Leonardo DRS
AT&S Investor and Analyst Presentation June 2017AT&S_IR
AT&S is a leading manufacturer of printed circuit boards and IC substrates headquartered in Austria. The company focuses on high-end technologies and applications with above average growth potential. It has production facilities across Europe and Asia to be close to customers and ensure cost efficiency. AT&S aims to strengthen its technology leadership position and generate long-term profitable growth and shareholder value through operational excellence and a strategic focus on innovative interconnect solutions.
This document contains the consolidated financial statements of AT & S Austria Technologie & Systemtechnik Aktiengesellschaft as of March 31, 2017. It includes the consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of financial position, consolidated statement of cash flows, and consolidated statement of changes in equity. Notes to the consolidated financial statements provide details on accounting policies, consolidation principles, segment information and other explanatory information. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards and the Austrian Commercial Code.
Curtiss-Wright First Quarter 2016 Financial Resultsq4curtisswright
The document provides an earnings conference call summary and outlook for Curtiss-Wright Corporation for 1Q 2016 and full year 2016. Some key points:
- 1Q 2016 EPS of $0.73, ahead of expectations, with lower costs and strong free cash flow of $61M. However, sales decreased 8% due to weaker industrial markets.
- Full year 2016 guidance expects sales growth of -1% to 1% with operating margin expansion to 14.0-14.2% through cost savings and improving defense and power markets.
- The outlook expects solid earnings growth of 7-11% and continued strong free cash flow of $290-310M through ongoing initiatives and AP1000 reactor component sales.
Dürr reported financial results for the first nine months of 2015. Sales revenues increased 68% year-over-year to €2.76 billion due to strong growth across all regions. Operating profit rose 27% to €189.8 million. Cash flow from operating activities declined due to the expected normalization of net working capital. Dürr increased its sales outlook for 2015 and expects an EBIT margin in the range of 7.0-7.5%.
- Solid first half results for Leonardo with strong performance in military/governmental business.
- All businesses are on track to deliver 2021 targets and guidance is confirmed.
- Some positive signs seen in the challenging civil aeronautics market.
- Strong order intake and backlog provide long-term visibility, while performance is strengthening as COVID impacts reduce.
FIA16: Leonardo Airborne & Space Systems Division: Falco UAS FamilyLeonardo
The document discusses the successes of the Falco UAS family of drones, noting that it has five international customers, was the first to provide services to UN peacekeeping missions, and has integrated into controlled airspace as defined by ICAO. It then outlines the roadmap for the Falco EVO model, including plans to upgrade it with a heavy fuel engine, satellite communication, and additional payloads. In addition, it notes that two new customers for the Falco EVO were announced at the Farnborough Air Show.
SESAR Project Awards - Best in class Nomination for Pj14.01.04Leonardo
The team led by Finmeccanica has been award for the valiable technical specifications representing a core element of the SWIM Concept.
SESAR SWIM definition (adopted also by ICAO): SWIM consists of standards, infrastructure and governance enabling the management of ATM information and its exchange between qualified parties via interoperable services.
SWIM is about to provide the right information to right stakeolder at the right time.
- Leonardo delivered strong results in the first 9 months of 2016 despite challenging market conditions, with record new orders of €15.5 billion driven by the €7.95 billion Eurofighter contract for Kuwait.
- Profitability improved with net income more than doubling to €343 million, supported by lower financial expenses.
- The company expects continued good performance in the fourth quarter and remains on track to meet full-year guidance.
Leonardo presented its 3Q/9M 2017 financial results. Helicopter division results were weaker than expected due to ongoing market and execution challenges. While Aeronautics and Defense Electronics results were broadly in line with expectations, the overall 2017 guidance was made tougher reflecting issues in Helicopters. Actions have been taken to address Helicopter issues including management changes and optimizing production processes. Overall, the company remains confident in its medium-term growth opportunities across its three key pillars of Helicopters, Defense Electronics, and Aeronautics.
3Q and 9M Results Presentation- November 08th 2013Leonardo
The document provides an overview of Finmeccanica's 3Q and 9M 2013 results and 2013 outlook. It discusses performance across various business segments, including Aeronautics, Helicopters, Defence Electronics, Space, and Transportation. Key highlights include strong underlying performance in Aeronautics & Helicopters, impact of US budget cuts on Defence Electronics as expected, and restructuring progress across businesses. The full year EBITA guidance is lowered by 5-10% due to challenges at Ansaldo Breda. The presentation also provides a strategic update, reaffirming Finmeccanica's priorities of restoring reputation, industrial restructuring, and portfolio rationalization.
- Revenue increased 11.6% to €199.6 million due to stable demand and good capacity utilization. EBITDA rose to €29.7 million compared to €18.8 million in the same quarter last year.
- Loss for the period improved to €-11.2 million from €-13.6 million in the prior year quarter. Loss per share declined from €-0.35 to €-0.29.
- Net debt increased to €496.7 million from €380.5 million due to investments of €69.7 million in tangible and intangible assets. The company decided not to further expand its IC substrate plant in China in the current financial year.
Leonardo reported solid results for the first nine months of 2021, with orders up 8.9% and revenues up 6%. The company's military/government business performed strongly and remains resilient, accounting for 87% of revenues. Results were above 2019 levels for the military sector. Aerostructures was in line with expectations, though civil aeronautics remains challenged by COVID. The company confirmed its full-year 2021 guidance and strong liquidity position. It also signed its first ESG-linked credit facility, extending its commitment to sustainability.
- Revenue increased 6.8% to a record €814.9 million, outperforming the general market, but earnings were negatively impacted by start-up costs associated with the Chongqing plant expansion.
- The core printed circuit board business remained profitable with EBITDA margins above 25%, but earnings were lower due to price pressure and lost production capacity during plant upgrades.
- The expansion in Chongqing faced technical challenges, resulting in longer ramp-up times and lower profits from IC substrates. A second production line started in September.
- The losses for the period and negative earnings per share were due to the lower EBITDA and higher depreciation/financing costs.
-
Chief Executive Officer Alessandro Profumo presented on March 14th the FY2018 Results along with:
- Alessandra Genco - Chief Financial Officer
- Norman Bone - MD Electronics Division
- Gian PIero Cutillo - MD Helicopter Division
- Lucio Valerio Cioffi - MD Aircarft Division
- William J. "Bill" Lynn - CEO of Leonardo DRS
AT&S Investor and Analyst Presentation June 2017AT&S_IR
AT&S is a leading manufacturer of printed circuit boards and IC substrates headquartered in Austria. The company focuses on high-end technologies and applications with above average growth potential. It has production facilities across Europe and Asia to be close to customers and ensure cost efficiency. AT&S aims to strengthen its technology leadership position and generate long-term profitable growth and shareholder value through operational excellence and a strategic focus on innovative interconnect solutions.
This document contains the consolidated financial statements of AT & S Austria Technologie & Systemtechnik Aktiengesellschaft as of March 31, 2017. It includes the consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of financial position, consolidated statement of cash flows, and consolidated statement of changes in equity. Notes to the consolidated financial statements provide details on accounting policies, consolidation principles, segment information and other explanatory information. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards and the Austrian Commercial Code.
Curtiss-Wright First Quarter 2016 Financial Resultsq4curtisswright
The document provides an earnings conference call summary and outlook for Curtiss-Wright Corporation for 1Q 2016 and full year 2016. Some key points:
- 1Q 2016 EPS of $0.73, ahead of expectations, with lower costs and strong free cash flow of $61M. However, sales decreased 8% due to weaker industrial markets.
- Full year 2016 guidance expects sales growth of -1% to 1% with operating margin expansion to 14.0-14.2% through cost savings and improving defense and power markets.
- The outlook expects solid earnings growth of 7-11% and continued strong free cash flow of $290-310M through ongoing initiatives and AP1000 reactor component sales.
Dürr reported financial results for the first nine months of 2015. Sales revenues increased 68% year-over-year to €2.76 billion due to strong growth across all regions. Operating profit rose 27% to €189.8 million. Cash flow from operating activities declined due to the expected normalization of net working capital. Dürr increased its sales outlook for 2015 and expects an EBIT margin in the range of 7.0-7.5%.
- Solid first half results for Leonardo with strong performance in military/governmental business.
- All businesses are on track to deliver 2021 targets and guidance is confirmed.
- Some positive signs seen in the challenging civil aeronautics market.
- Strong order intake and backlog provide long-term visibility, while performance is strengthening as COVID impacts reduce.
FIA16: Leonardo Airborne & Space Systems Division: Falco UAS FamilyLeonardo
The document discusses the successes of the Falco UAS family of drones, noting that it has five international customers, was the first to provide services to UN peacekeeping missions, and has integrated into controlled airspace as defined by ICAO. It then outlines the roadmap for the Falco EVO model, including plans to upgrade it with a heavy fuel engine, satellite communication, and additional payloads. In addition, it notes that two new customers for the Falco EVO were announced at the Farnborough Air Show.
SESAR Project Awards - Best in class Nomination for Pj14.01.04Leonardo
The team led by Finmeccanica has been award for the valiable technical specifications representing a core element of the SWIM Concept.
SESAR SWIM definition (adopted also by ICAO): SWIM consists of standards, infrastructure and governance enabling the management of ATM information and its exchange between qualified parties via interoperable services.
SWIM is about to provide the right information to right stakeolder at the right time.
MSPO - Leonardo Aircraft Division: M-346, the dual role conceptLeonardo
At MSPO 2016 Leonardo Aircraft Division hosted a presentation on the M-346FT (Fighter Trainer), the latest variant of the platform, ideal to train next generation of fighter pilots
Helitech - Leonardo Helicopters Division: Through-Life approach to the customerLeonardo
During Helitech 2016 Leonardo Helicopters Division presented the through-life approach to the customer: an overview of how Leonardo Helicopters is helping Customers master their helicopter operations
FIA16: Leonardo Aircraft Division: M-346 programme - the dual role conceptLeonardo
During 2016 edition of the Farnborough Airshow, Leonardo Aircraft Division presented the M-346FT (Fighter Trainer), the latest variant of the platform, ideal to train next generation of fighter pilots
FIA16: Leonardo Airborne & Space Systems Division: signature of the Prospect ...Leonardo
The document summarizes Leonardo's involvement in space exploration projects with ESA, including signing a contract with ESA for their PROSPECT lunar drilling and sampling package. It discusses Norman Bone as managing director of Airborne & Space Systems and outlines Leonardo's work on developing sampling and sample handling systems for future ESA planetary exploration missions aiming for sample return from Mars and Phobos.
Green Day 2016 - Earth Observation satellites support climate change monitoringLeonardo
During the 2016 Green Day conference organized by AGOL and LUISS University, Massimo Comparini, CEO of e-Geos introduced us on how satellite technology can support climate change monitoring
Telespazio Geoinformation platform for Defense and Intelligence: Maritime Dom...Leonardo
During the Defence Geospatial Intelligence 2017 Telespazio and e-Geos presented the Geoinformation platform for Defense and Intelligence success story of Maritime Domain
Cyber trust: cornerstone of a digital worldLeonardo
During Cybertech 2016 Andrea Biraghi, Security & Information Systems Division Managing Director, took part at the panel "Leader's Vision in the Cyber Era" presenting Leonardo's view on the cyber business
From Finmeccanica to Leonardo: a new brand that defines the change of the company and its transformation from a financial holding company to an operational, integrated and innovative industrial entity.
Chosen for its strong evocative significance, the new name is inspired by Leonardo da Vinci, a universally recognised symbol of creativity and innovation.
Leonardo is a global high-tech company and one of the key players in the Aerospace, Defence and Security sectors. Headquartered in Italy, the company employs more than 47,000 employees worldwide.
At ITASEC17, the first italian conference on Cyber Security, Giorgio Mosca, Strategy and Technology Director of Leonardo's Security & Information Systems Division presented the company's approach to the cyber business
Border security: a physical and digital challengeLeonardo
At SMi's Border Security confernce, Giorgio Mosca, Strategy and Technology Director of Leonardo's Security & Information Systems Division presented the company's integrated and intelligent platforms enhancing border security approach
Finmeccanica S.p.A. is an Italian multinational manufacturing company headquartered in Rome. The document provides contact information for Finmeccanica including their address, phone number, fax, website, and copyright information. It also notes that photos on certain pages are from thinkstockphotos.it and the European Space Agency for the ExoMars Mission, Trace Gas Orbiter, Schiaparelli lander and Rover.
World Speed Record 30th Anniversary 1986-2016Leonardo
On the evening of 11 August 1986, a Westland Lynx flew a 15 kilometre course across the Somerset Levels, achieving an average speed of 400.87km/h (249.10 mph).
It became the world’s fastest helicopter. In 2016, thirty years on, this helicopter World Speed Record remains unbroken.
Read the story of this amazing achievement and the people involved in the project.
Helitech - Leonardo Helicopters Division: Technology for SafetyLeonardo
During Helitech 2016 Leonardo Helicopters Division held a presentation called "Technology for Safety" focused on:
- Ergonomics & Human Machine Interface;
- Dry Run Transmission Capabilities;
- Design to Performance;
- OGP standards compliance across different roles.
Global Operations and Supply Chain Management: Airbus vs. Boeing Final Assig...Jamar Johnson
Final Assignment performed by Jamar Johnson and IE Business School classmates for our Global Operations and Supply Chain Management course. The class was taught by Professor and Associate Dean of IE Business School, Luis Solis.
Leonardo's 1Q 2017 results presentation summarizes the company's financial performance for the first quarter of 2017. Key highlights include:
- New orders were in line with or above expectations across sectors such as helicopters, electronics, and aeronautics.
- Revenues were softer than the previous quarter due to expected lower volumes, though profitability continued to improve across sectors driven by efficiency improvements.
- Guidance for full-year 2017 is confirmed, with expectations for revenues to remain around 2016 levels and further improvements in profitability.
Bruker Corporation reported financial results for Q4 and full year 2015. In Q4, revenue declined 6% year-over-year to $478 million due to currency headwinds, while non-GAAP operating margin expanded to 17.5% and non-GAAP EPS grew 27%. For the full year, revenues declined 10% to $1.6 billion from currency impacts, while non-GAAP operating margin increased 310 basis points and non-GAAP EPS grew 19%. Bruker expects to continue margin expansion in 2016 through operational and commercial excellence initiatives.
The document summarizes Enagás' 2015 results and outlook for 2016-2020. Key points include:
- Enagás met its targets for the ninth year in a row in 2015, with funds from operations growing 4% to €696.9M despite regulatory reforms.
- International acquisitions in 2015 like Swedegas and additional stakes in affiliates fit Enagás' investment criteria and will provide stable cash flows.
- The new Spanish regulatory framework provides revenue stability and predictability through 2020 while supporting elimination of tariff deficits.
- Credit ratings were upgraded in 2015 due to Enagás' diversification strategy and regulatory stability in Spain.
- Generali Group reported strong financial results for 2014, exceeding targets for operating ROE and Solvency I ratio.
- Net income increased 21.6% excluding one-off items, driven by excellent operating performance in Life and P&C.
- The Solvency I ratio reached 156% at year-end and is pro-forma estimated at 164% following the agreed disposal of BSI.
- Based on results, Generali is proposing a 33% increase in dividend to €0.60 per share.
Finmeccanica First Quarter 2014 Result PresentationLeonardo
Q1 2014 results were in line with expectations. Orders were up 10.8% driven by growth in helicopters. Revenues were down 4.9% due to delays in some defense programs but expected to recover over the year. Profitability was maintained with an ROS of 5.2% despite lower revenues. The outlook for the full year remains unchanged with expectations for orders above 1 and profitability improvement.
Generali Group reported its 2017 first half results. Key highlights included:
- Operating result increased 4.1% to €2.588 billion due to higher fees from Banca Generali and asset management and excellent P&C performance.
- Net result rose 3.7% to €1.221 billion mainly from improved operating performance.
- Solvency II ratio increased to 188% on a regulatory view and 207% on an internal model view, strengthened by capital generation and positive financial markets.
Generali Group reported its 2014 first half results. The key highlights included:
- Operating profit increased 9.5% to €2.5 billion driven by strong performances across business segments.
- Net income was stable at €1.075 billion despite some one-off effects from discontinued operations.
- Solvency I ratio improved significantly to 162% due to successful debt placements and financial market performance.
- Life insurance saw increases in new business, net inflows, APE and operating result due to lower expenses and improved investment returns. P&C insurance also performed well with a lower combined ratio.
- The group has made great progress towards its cost savings and capital management goals under its
In Q2 2022, TIM Group reported revenues of €3.9 billion, down 1.4% year-over-year. Domestic service revenues improved with better fixed line trends in revenue, ARPU, and churn. Mobile trends also improved with human lines stabilizing and churn at its lowest level in 16 years. EBITDA was €1.3 billion, down 12.3% year-over-year, as cost optimization efforts partially offset commercial and industrial cost increases. Net financial debt increased to €19.3 billion after lease liabilities as of June 30, 2022.
Bruker Corporation reported financial results for Q3 2017 and year-to-date Q3 2017. Revenue increased 10.6% in Q3 2017 and 8.3% year-to-date, driven by organic growth and acquisitions. Operating profit grew 10% in Q3 2017 and 13% year-to-date. However, earnings per share declined in both periods compared to the prior year due to a higher effective tax rate in 2017. The company continues to focus on revenue growth, margin expansion, and portfolio transformation through new product development and acquisitions.
The document provides financial and operational information for AT&S for the first half of the 2014/15 fiscal year. Key points include:
- Revenue was stable at €302.1 million while EBITDA increased 10.5% to €72.3 million and profit for the period rose 29.5% to €28.4 million.
- The Mobile Devices & Substrates business unit achieved stable revenue while the Industrial & Automotive unit grew revenue by 8.8%.
- Construction of the new IC substrate plant in Chongqing is proceeding on schedule.
Klöckner & Co - Q3 2013 Results, Press Telephone Conference, November 6, 2013Klöckner & Co SE
- Gisbert Rühl, CEO of Klöckner & Co SE, presented Q3 2013 results and outlook. Key points include:
- Q3 EBITDA of €39M met guidance despite weak European markets, due to cost cutting measures.
- Restructuring program KCO 6.0 is far advanced, with 61 of 71 sites closed and over 2,000 job cuts realized.
- Additional optimization measures called KCO WIN are expected to contribute €20M to EBITDA in 2014 and €30M from 2015 onward.
- Full year EBITDA target of €140M and positive free cash flow are confirmed. The outlook remains cautious due to
- HeidelbergCement reported its third quarter 2014 results, with continued volume growth across all business lines. Revenue increased 3% year-over-year to €10.1 billion, while operating EBITDA rose 6% to €1.8 billion.
- On a like-for-like basis, revenue increased 9% and operating EBITDA grew 14%, driven by margin improvements in all business lines. The company achieved 58% operating leverage at the group level.
- Volumes increased across all product lines, with cement volumes up 5% and aggregates volumes rising 5% compared to the third quarter of 2013.
Solvay 9 months 2018 results - PresentationSolvay Group
Solvay published on November 8, 2018 its first nine months 2018 results. Earnings toolkit and press release are available here: https://www.solvay.com/en/event/nine-months-2018-earnings
2017 ANNUAL RESULTS AND 2018-2022 BUSINESS PLANERG S.p.A.
ERG presented its 2017 annual results and 2018-2022 business plan at an investor day on March 8, 2018. The company achieved strong operating results in 2017, exceeding guidance on key financial metrics such as EBITDA and net financial position. ERG has successfully transformed its business from oil to renewables through acquisitions and divestitures, with its capital now fully rotated to wind, solar, and hydro power generation. The new business plan aims to further grow the company's renewable installed capacity to over 1.7 GW by 2022 through organic growth and M&A.
Bruker Corporation reported its Q4 and full year 2013 financial results. For Q4 2013, revenues increased 7% year-over-year to $552 million driven by 6.2% organic growth. Operating income grew 11% and non-GAAP earnings per share increased 11%. For the full year, revenues grew 3% to $1.84 billion while operating margins declined by around 100 basis points due to currency effects. The company provided guidance for 2014 of 3-4% revenue growth and 10-14% growth in non-GAAP earnings per share.
Hera Group approved a business plan to 2021 focused on growth through investments, innovation and agility. Key points:
- 2021 EBITDA projected to reach €1.135 billion, up €218 million from 2016
- Total investments of €2.9 billion to fuel growth and transition to circular economy and Utility 4.0 models
- Financial targets include net debt/EBITDA ratio below 3 and annual average profit/share growth of 5%
Bruker Corporation reported Q4 2014 and full year 2014 financial results. Q4 revenues declined 8% year-over-year to $508 million due to negative foreign exchange impacts. Full year revenues declined 2% to $1.81 billion due to currency headwinds and softness in some markets. Non-GAAP EPS was $0.30 for Q4 and $0.75 for the full year. Priorities for 2015 include rightsizing operations, accelerating growth in key areas, and entering new markets.
The document provides financial information for AT&S for Q1-Q3 2014/15 compared to the same period the previous year. It shows that revenue increased 8.5% to €489 million despite high capacity utilization. EBITDA improved 27.1% to €127 million due to high utilization, improved product mix, and cost management. The outlook for the full year was improved with expected revenue of €623-633 million and an EBITDA margin of 23-24%.
This document provides a financial report for Banco Santander for January-September 2014. Key points include:
- Attributable profit for Q3 2014 was EUR 1,605 million, up 10.4% from the previous quarter, driven by higher gross income. Attributable profit for the first nine months was EUR 4,361 million, up 31.7% year-over-year.
- The CET1 ratio was 11.44% at the end of September, well above minimum requirements. Liquidity ratios improved.
- Volumes grew in most core markets, with notable growth in Brazil and Poland. NPL and coverage ratios continued to improve quarter-over-quarter
Klöckner & Co - Roadshow Presentation May 10, 2013Klöckner & Co SE
Klöckner & Co SE held a roadshow presentation in London on May 10, 2013. The presentation was led by CEO Gisbert Rühl and provided highlights and an update on Klöckner & Co's strategy, financial results for Q1 2013, and outlook. Key points included that the restructuring has significantly improved Klöckner & Co's margins and cost structure, but volumes are still lagging. The presentation also reviewed the company's strong balance sheet and progress achieving its restructuring targets.
Similar to Finmeccanica First Half 2015 results presentation (20)
Leonardo - Technologies for a Safer Future.pdfLeonardo
The industrial plan executive summary outlines Leonardo's strategic goals from 2024-2028. Key targets include doubling dividends per share to 0.28 euros by 2024, and doubling orders, revenue, free cash flow, EBITA, and return on invested capital by 2028. Leonardo aims to strengthen its core businesses, forge international alliances, enhance cyber capabilities, and create a new Space Division to boost capabilities in high-value space segments. The plan will implement initiatives to drive organic growth, efficiency boosts, and inorganic growth through M&A and global partnerships.
The Leonardo FY 2023 Preliminary Results PresentationLeonardo
The document provides a preliminary summary of Leonardo's financial results for full year 2023. Some key highlights include:
- Orders increased 3.8% to €17.9 billion and revenues increased 3.9% to €15.3 billion, ahead of guidance.
- EBITA increased 5.8% to €1.29 billion and free operating cash flow increased 17.8% to €635 million, both in line with or ahead of guidance.
- Net debt was reduced 23% to €2.3 billion, ahead of guidance.
The presentation reviews performance across Leonardo's business divisions and notes progress on strategic initiatives while emphasizing continued focus on financial discipline.
Leonardo presented its 3Q/9M 2023 results. Key highlights include:
- Solid performance across core businesses and reconfirmation of 2023 guidance.
- 9M orders of €13.3 billion, up 14.8% YoY, with record backlog over €40 billion.
- 9M revenues of €10.3 billion, up 4.8% YoY. EBITA of €644 million, up 6.3% YoY.
- Focus on strategic priorities like cyber security, space, and digital transformation to drive future growth.
The document provides an agenda and overview of a 2Q/1H2023 results presentation for Leonardo. Some key points:
- Leonardo had a strong first half with order intake up 21.4% and revenues up 6.4%, while also improving cash flow generation and continuing its deleveraging path.
- The CEO discussed how Leonardo needs to evolve its product portfolio and positioning to meet changing geopolitical developments and technological transformations in areas like space, cyber, and digitalization.
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- Financial targets
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- EBITA was €1.218 billion, a 14.9% YoY increase and above guidance.
- FOCF more than doubled YoY to €539 million, exceeding guidance.
- Management confirmed €3 billion FOCF generation target for 2021-2025 and proposed a dividend.
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The document is a presentation of Leonardo's FY 2021 results. It highlights that 2021 was an important year of delivery, with results meeting or exceeding expectations. Key metrics like orders, backlog, revenues and EBITA were above 2019 pre-pandemic levels across core defence businesses, excluding Aerostructures. The presentation outlines progress on the recovery plan for Aerostructures and growth opportunities across Leonardo's businesses, supported by technology investments and positioning in international programs. Targets out to 2026 confirm expectations of continued growth.
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UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
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1. London, 31 July 2015
1H/2Q 2015 Results Presentation
Mauro Moretti
Gian Piero Cutillo
Chief Executive Officer and General Manager
Chief Financial Officer
2. GROUP OVERVIEW (CEO and General Manager)
RESULTS AND OUTLOOK (CFO)
UPDATE ON STRATEGIC DEVELOPMENTS (CEO and General Manager)
3. 3
Delivering on promises…
Executing 5 year industrial plan launched in January
Industrial Plan has STRENGTHENED financial results
Significant progress on profitability
All key metrics heading in the right direction
Share price up 46% over the first sixth months of the year (from €7.73 to €11.28)
Industrial Plan supporting financial strategy to STRENGTHEN our capital structure
Bond buyback finalised, lower gross debt
RCF renegotiated at better conditions
Strategic plan on track on DEVELOP a more cohesive and effective Finmeccanica
Disposal of Transportation, becoming a pure Aerospace, Defence & Security player
New Group governance launched, with new identity as “one single company”
30 July BoD key resolution: approval of plans to merge OTO Melara and WSS into
Finmeccanica and plans to partially spin-off Alenia Aermacchi, AgustaWestland and Selex ES
into Finmeccanica
4. 4
…and we have clear priorities for 2015 and onwards
STRENGTHEN
Delivery of 2015 guidance
Improve operating profitability: >150bp improvement in ROS (FY2016/2014),
Reduced P&L volatility and material step-up in net income
Positive and growing cash flows
Reduce Invested Capital through lower working capital and rationalised investments
DEVELOP
Develop our offering to customers—new commercial market model to be finalised in H2 2015
Complete transition to “One Single Operating Company” to increase visibility and accountability
More focused portfolio—Take portfolio opportunities when they arise
5. 5
AW169 EASA certification achieved in July confirms our focus on products
innovation to meet customer needs
First all new helicopter type in its category in over 30 years set to enter service
Marks operational readiness of the whole AW Family of new generation helicopters
Outstanding capabilities and innovation made available in less than five years
Over 150 helicopters have been ordered by customers worldwide, including framework
agreements and options, for a wide range of roles
6. GROUP OVERVIEW (CEO and General Manager)
RESULTS AND OUTLOOK (CFO)
UPDATE ON STRATEGIC DEVELOPMENTS (CEO and General Manager)
7. 7
Key Messages
Satisfactory results achieved in 1H2015
New orders and revenues in line with expectations
Material step up in EBITA (+45% YoY) with RoS at 7.5% from 5.4%, mainly thanks to Selex and
DRS
Positive Net Result at €111mln form negative €39mln
Positive FOCF in 2Q and improved compared to last year (same perimeter)
Transportation sector included in the “Discontinued Operations”
FY2015 guidance confirmed
On track with the execution of the the financial strategy: significant steps towards
the strengthening of the capital structure
Bond buyback
Renegotiation of the RCF at better conditions
8. 8
5,794
2,257
1,703
898
691
189
- 199
5,539
1H2014 Helicopters Selex ES DRS Aeronautics Defence
Systems
Eliminations &
Other
1H2015
Focus on Group Orders
Commercial Performance in line with strong 1H 2014; Book to Bill remains close to 1
€ Mln
1H
2015
- 31.2% % Ch. vs. 1H 2014+ 29.4%+ 21.7%- 15.9% +142.3% - 4.4%
Significant improvement in DRS supported by orders from the Canadian Army
Very good performance in Selex and Defence Systems
1H2014 Helicopters and Aeronautics benefitted from large size single orders (UK MoD and M346 Poland)
1H
2014
9. 9
5,709
2,114
1,620
765
1,414 209
- 149
5,973
1H2014 Helicopters Selex ES DRS Aeronautics Defence
Systems
Eliminations &
Other
1H2015
Focus on Group Revenues
Good performance above expectations
€ Mln
1H
2015
+ 2.5% % Ch. vs. 1H 2014+ 26.7%+4.2%+ 3.6% - 9.1% + 4.6%
DRS consolidating recovery in the top line
Helicopters, Selex and DRS benefitted from forex effect
1H
2014
10. 10
310
(RoS 5.4%)
260
(RoS 12.3%)
72
(RoS 4.4%)
44
(RoS 5.7%)
86
(RoS 6.1%)
31
(RoS 14.8%)
22
- 65
450
(RoS 7.5%)
1H2014 Helicopters Selex ES DRS Aeronautics Defence
Systems
Space Corporate &
Others
1H2015
Focus on Group Profitability
Material step up in EBITA and ROS
€ Mln
1H
2015
+ 0.7 p.p. ROS Ch. vs.
1H2014
+ 13.4 p.p.+ 1.4 p.p.- 0.6 p.p. + 3.5 p.p. + 2.1 p.p.
Meaningful step up driven by improved performance at DRS and SELEX as well as benefits coming
from restructuring and efficiency measures across the Group
DRS back on track, with YoY improvement even excluding the impact from provisions
accounted for in 1H2014
SELEX confirming recovery in profitability
1H
2014
11. 11
310 28
59
41
182 210
33 -61
1H 2014 1H 2015
€ Mln
€ Mln € 87 mln
“below the line”
- 41%
Focus on Group Net Result before extraordinary transactions
Meaningful improvement
Strong improvement in Net Result before extraordinary transactions driven by
Meaningful step up in EBITA
Lower below the line volatility
450 6 45
48
351 197
63
91
€ 51 mln
12. 12
ca. 900
ca. 130
ca. - 750
ca. - 50
200 - 300
Cash from operations Dividends
from JVs
Investments Transportation FY2015
EXPECTED FOCF
Focus on Group FOCF
1H 2015 and FY expectations
2015E
€ Mln
FY
2015E
COMMENTS ON 1H 2015
Usual seasonality affecting 1H 2015
Positive FOCF in 2Q
YoY improvement in 1H 2015, also
excluding the impact of €256mln outflows
on Indian Helicopters and extraordinary
dividend from JVs in 1H2014
4Q remains the key period
13. 13
FINANCIAL POSITION (as of end of June 2015 proforma buyback €450mil)
(€mil)
Sterling Bond
Euro Bond
EIB
Dollar Bond
Target achieved with 100% tender redemption rate
450 € mln repurchased across Sterling 2019 and Euro 2021, 2022, 2017 Bonds
No refinancing needs before end 2017
Strong liquidity position
Bonds have neither financial covenants nor rating pricing grids
Average life ≈ 8 years
* Finmeccanica early repaid $66mil in 2012
Buyback (total €450mil)
37 46 46 46 46 46 46 46
521 500
739
556
500388*
268
447
44979
114 211
44
2015 2016 2017 2018 2019 2020 2021 2022 2025 2039 2040
Recent achievements towards the reduction of Group gross debt and financial charges
Bond Buy-back
14. 14
Tenor July 2020 18 months
Margin 100 bps
(1)
100-110 bps
(2)
2.000
660 611
-
500
1.000
1.500
2.000
2.500
REVOLVING CREDIT
FACILITY
UNCONFIRMED
CREDITLINES
CASH IN HAND
LIQUIDITY POSITION (as of end of June 2015 proforma for the renegotiated RCF)
Leveraging on strengthened Group industrial fundamentals and favorable market conditions
Reduction of size (from €2.2bn to €2bn), confirming the gradual decrease of working capital financing
needs
significant reduction of margins (from 180bps to 100bps)
(1) Based on rating as of 30/06/2015
(2) Average. Expected to be renewed at
maturity
(€mln)
As of 30 June 2015
€ 84mil drawn at 30
June 2015
Renegotiated the 5 years Revolving Credit Facility at better conditions
To cope with possible volatilities in financial
needs, Finmeccanica can leverage on:
– cash balance of ca.€0.6bn
– Credit lines worth €2.7bn
(confirmed and unconfirmed),
including the RCF (undrawn at 30
June 2015)
– Bank Bonding lines of roughly
€3.0bn to support the execution of
bidding and orders’ activities
15. 15
FY2015 Assumptions and Guidance
FY2014A
FY2015E*
Reported Pro forma
New orders € bn 15.6 12.7 12.0 – 12.5
Revenues € bn 14.7 12.8 12.0 – 12.5
EBITA €mln 1,080 980 1,080 – 1,130
FOCF €mln (137) 65 200 - 300
Group Net
Debt
€ bn 4.0 ca. 3.4
(*) Assuming €/$ exchange rate at 1.27 and €/£ at 0.8
ASSUMPTIONS
Orders and Revenues: moderate
growth, taking into account the changes
in perimeter
Profitability: important step up of 10%
Below EBITA: much lower volatility, with
material improvement in the bottom line
Restructuring costs: further decrease
FOCF: improving cash from operations,
lower impact of Transportation,
normalized JV contribution and slightly
higher net investments
Group Net Debt: ca. €3.4bn*, after
transportation disposal
16. 16
Delivering on Industrial Plan: Medium Term Objectives
EBITA +20% and RoS +150b.p. from 2014 to 2016
SG&A reduction > 10% from 2013 to 2015
CAPEX and capitalized R&D rationalization > 20% from 2013 to 2017, rebalancing
depreciation/investments ratio, significantly improving self-financing capacity
Operating working capital reduction, net of reducing customers advances, > 15% by 2017
FOCF expected to increase over time and Net Debt expected to reduce below €3bn by end 2017, thus
improving Debt/EBITDA and Debt/Equity
The journey is proceeding in the right direction
17. GROUP OVERVIEW (CEO and General Manager)
RESULTS AND OUTLOOK (CFO)
UPDATE ON STRATEGIC DEVELOPMENTS (CEO and General Manager)
18. 18
FEWER BUSINESSES –
FOCUS ON «A,D&S»
SELECTED JVS AND «A,D&S»
SEGMENTS
Quality & Effectiveness Costs Internationalisation & Market
Executing the pillars of our Industrial Plan
FEWER PRODUCTS IN CORE «A,D&S»
IMPROVE INTERNATIONAL
FOOTPRINT / EXTEND REACH
NEW GOVERNANCE AND NEW
ORGANISATIONAL AND
OPERATING MODEL
19. 19
New Group Commercial Model
Target Regions in our Global presence
Main Target
Areas
Mexico
Chile
Peru
Colombia
USA
Canada
Russia
Kuwait
Qatar
UAE
Saudi Arabia
Oman
Turkey
Japan
South Korea
Malaysia
Singapore
Indonesia
Vietnam
China
India
Angola
Uganda
Nigeria
Egypt
Tunisia
Morocco
Algeria
20. 20
MAPPING OF GROUP
PRESENCE ABROAD
A
FOCUS ON GROUP
“REPRESENTATIVE OFFICES”
B
TOWARDS THE NEW
COMMERCIAL MODEL
C
On-going
• Kind of presence
• Strategic rationale
• Costs
• “AS IS” analysis
• Rationalization of the Group
Representative Offices
• Rationalization of Commercial
Offices
• Compliance with local by-laws
The new commercial approach will be based on
ONE VOICE FINMECCANICA: Coherently with the divisionalisation process, Finmeccanica
presence in the «target» markets will be unique («one voice») according to clearly defined
roles and responsibilities and under the coordination of the Corporate Centre
EFFICIENCY AND EFFECTIVENESS: The implementation of the New Model will rationalize
Finmeccanica presence, reducing costs and leveraging on synergies and shared services
“TAILORED” APPROACH: The idea is to replicate, at a country or region level, the new Group
Organisational model, with a unique corporate presence («one roof»), conveniently tailored
based on local laws and the kind of activity the Group has in the area
New Group Commercial Approach
Increasing effectiveness of Global commercial footprint
21. 21
The new decentralized structure will provide the following benefits
Greater ability to control by the Corporate Center
Full accountability of the Divisions, profit centers with end to end responsibility, through decentralized
operations
By
Streamlining and empowerment
Greater effectiveness and efficiency
Reliability of the business results
Shorter chain of ownership, fast decision-making and flexibility
Greater integration and overcoming of overlaps
New Governance and New Group Organisational and Operating Model
One single company
Central
Support Functions
Sectors
Divisions
Business/Product/
Program Unit
Policy
Guidelines
Control
Execution
The process will be
completed by the end of
2015 and all activities
progressing in line with plan
Corporate Center
Business
22. 22
CORPORATE CENTRE
Helicopters Military aircrafts
Aero-structures
Airborne & Space Systems
Security & Information
Systems
Defence Systems
Land & Naval Defence
Electronics
Sectors
Divisions
MBDA
Helicopters Aeronautics
Electronics, Defence &
Security Systems
Space
Others ATR DRS
JVs / Others
New Governance and New Group Organisational and Operating Model
Others
Others THALES ALENIA SPACE
TELESPAZIO
AVIO
Business Support
Functions
Sharedservicecentres
23. 23
The 4 Sectors are part of the Finmeccanica Corporate Center and coordinate Subsidiary Companies/JV and related Divisions in
terms of business, technologies and reference markets, playing a role of coordination and guidance
In particular, they are equipped with streamlined structures, essential to the Sector’s mission:
Efficacy and consistency between Strategies and Investments, mainly those that are common to the various Divisions
Engineering coordination
Commercial effectiveness and coordination. Synergies especially regarding clients/markets shared by different Divisions
Participation in assigning and overseeing the economic and financial objectives of the individual Divisions
Optimal use of assets and resources that are shared and not divisible between Divisions that are also not to be replicated
Participates in proposals associated with succession plans for management of the Sector and coordinated Divisions
Sectors: Finmeccanica presence in homogeneous business portfolios
Technical Functions Business Support Functions
JV
&
Others
7 Divisions for the 4 Sectors
24. 24
According to the new model each Division:
Is a “profit center” overseeing one specific reference market
with responsibility for the P&L
Develops and manages its own business portfolio for the
reference market with end-to-end responsibility on the key
industrial processes
Is founded on Business Units or Product/Program Units
depending on the Divisions, and is provided with Technical
Functions with which it maximizes functional synergies among
the BU
Ensures the Performance & Health of the Business Units
and the Technical Functions with responsibility for the
functioning of the Business/Functions matrix
Maximizes the return on invested capital with responsibility to
propose and optimize necessary investments
Maximizes the return on human capital with responsibility for
the effective and efficient use of resources available to the
Division
Is also provided with the Support Functions necessary to fulfil its
role
Is responsible for collaborating with the other Divisions and
Subsidiary Companies/Joint Ventures on shared
opportunities and initiatives
Divisions: the pillars of the new Organisational and Operating Model
DIVISION X
BU/Product/ProgramUnits
Division Business Support Functions
Division Technical Functions
25. 25
The execution of industrial strategy is on track on key industrial processes (Engineering, Supply
Chain and Manufacturing)
We are strengthening our financial structure
Delivering continued momentum in our financial performance
Increasing effectiveness of our global commercial footprint
Continuing to create a more cohesive and effective Finmeccanica
Delivering on our promises
...with a clear focus on creating value for our shareholders
27. 27
HELICOPTERS
AW169 achieved EASA certification in July 2015
Lower orders YoY, as expected, as both Q1 and Q2 2014 benefitted from huge acquisitions (i.e. UK MoD
and export)
Q2 profitability slightly lower than last year, as expected, maintaining a strong RoS above 12%
Continue to expect solid performance, with revenues in line and profitability steadily at double digit.
Commercial success of AW169 and AW189 likely to be softened given the tough market conditions,
especially in the Oil&Gas sector.
Q2 1H FY
€ Mln
2015 2014
%
Change
2015 2014
%
Change
2014
Orders 909 1,171 (22.4%) 2,257 2,685 (15.9%) 4,556
Revenues 1,190 1,138 4.6% 2,114 2,041 3.6% 4,376
EBITA 148 151 (2.0%) 260 263 (1.1%) 543
ROS % 12.4% 13.3% (0.9) p.p. 12.3% 12.9% (0.6) p.p. 12.4%
28. 28
EU DEFENCE ELECTRONICS AND SECURITY-Selex ES
Good order intake momentum confirmed by a strong 2Q (up 31%), mainly driven by Naval Systems for
Italian Navy
Increasing EBITA driven by recovery in profitability of some businesses as well as benefits coming from
restructuring plan
Profitability expected to further improve in 2015
Additional benefits coming from the initiatives launched in engineering and production included in the
new industrial plan
Q2 1H FY
€ Mln
2015 2014
%
Change
2015 2014
%
Change
2014
Orders 1,255 956 31.3% 1,703 1,399 21.7% 3,612
Revenues 940 928 1.3% 1,620 1,554 4.2% 3,577
EBITA 58 41 41.5% 72 47 53.2% 185
ROS % 6.2% 4.4% 1.8 p.p. 4.4% 3.0% 1.4 p.p. 5.2%
29. 29
US DEFENCE ELECTRONICS AND SECURITY – DRS
Avg. exchange rate €/$ @1.12 in 1H 2015
Avg. exchange rate €/$ @1.37 in 1H 2014
1H results exceeded both 1H2014 and expectations
Good order intake supporting signs of recovery in the top line
Significant EBITA improvement, even excluding 1H2014 provision
DRS expected to recover profitability in 2015 based on business performance as well as execution of
efficiency programmes and streamlining efforts under way
Orders and revenues expected to remain at the same levels as 2014 (excluding the effect of the disposals
of two specific LoBs, which account for ca. €200mln Revenues p.y.), envisaging the conclusion of the
gradual decline that affected DRS in recent years
Q2 1H FY
$ Mln
2015 2014
%
Change
2015 2014
%
Change
2014
Orders 435 556 (21.8%) 1,002 951 5.4% 1,945
Revenues 453 433 4.6% 854 828 3.1% 1,877
EBITA 31 (77) n.a. 49 (64) n.a. 31
ROS % 6.8% (17.8%) 24.6 p.p. 5.7% (7.7%) 13.4 p.p. 1.7%
30. 30
AERONAUTICS
Q2 Orders in line with expectations, lower than 2015 mainly on Civil (ATR, B787); increased Revenue
driven by M346 with 4 additional a/c delivered to Israel
2015 profitability expected in line with 2014, driven by additional efficiency-improvement and cost reduction
actions, that will offset the lower contribution of high-margin programmes
2015 Revenues impacted by pass through activities to be given back to Boeing under agreements for the
B787 programme
Q2 1H FY
€ Mln
2015 2014
%
Change
2015 2014
%
Change
2014
Orders 362 572 (36.7%) 691 1,004 (31.2%) 3,113
Revenues 754 728 3.6% 1,414 1,379 2.5% 3,144
EBITA 52 46 13.0% 86 74 16.2% 237
ROS % 6.9% 6.3% 0.6 p.p. 6.1% 5.4% 0.7 p.p. 7.5%
31. 31
SPACE
DEFENCE SYSTEMS
Revenues expected to grow, mainly thanks to manufacturing and launch operations services
Business performance expected to improve, despite a decline in industrial profitability (unfavorable mix
and growing pressure on prices)
Partial recovery expected in FY2015; performance moderately better than 2014, thanks to major deliveries
of missile systems and rising production volumes for new orders in land, naval and underwater systems
Q2 1H FY
€ Mln
2015 2014
%
Change
2015 2014
%
Change
2014
EBITA 21 10 n.a. 22 17 29.4% 52
Q2 1H FY
€ Mln
2015 2014
%
Change
2015 2014
%
Change
2014
Orders 113 45 n.a. 189 78 n.a. 209
Revenues 119 127 (6.3%) 209 230 (9.1%) 495
EBITA 28 23 21.7% 31 26 19.2% 89
ROS % 23.5% 18.1% 5.4 p.p. 14.8% 11.3% 3.5 p.p. 18.0%
33. 33
GROUP PERFORMANCE
(*) Figures (except for headcount) restated as a result of the reclassification of the operations in the Transportation sector to discontinued operations.
Free Operating Cash-Flow (FOCF): this is the sum of the cash flows generated by (used in) operating activities (which includes interests and income
taxes paid) and the cash flows generated by (used in) ordinary investment activity (property, plant and equipment and intangible assets) and dividends
received.
Q2 1H FY
€ Mln
2015 2014 (*)
%
Change
2015 2014 (*)
%
Change
2014 (*)
New Orders 2,898 3,102 (6.6%) 5,539 5,794 (4.4%) 12,667
Backlog 29,303 29,328 (0.1%) 29,383
Revenues 3,319 3,161 5.0% 5,973 5,709 4.6% 12,764
EBITA 293 169 73.4% 450 310 45.2% 980
ROS % 8.8% 5.3% 3.5 p.p. 7.5% 5.4% 2.1 p.p. 7.7%
EBIT 241 81 n.a. 351 182 92.9% 597
Net result before extraordinary transactions 87 (46) n.a. 91 (61) n.a. 15
Net result after minorities 85 (41) n.a. 86 (62) n.a. (31)
EPS (€ cents) 0.147 (0.071) n.a. 0.149 (0.107) n.a. (0.054)
FOCF 137 51 n.a. (743) (1,031) 27.9% 65
Group Net Debt including discontinued operations - - - 4,802 4,840 (0.8%) 3,962
Group Net Debt excluding discontinued operations - - - 4,990 5,040 (1.0%) 4,255
Headcount - - - 53,393 55,690 (4.1%) 54,380
34. 34
A new S/T and L/T Incentive Scheme focused on creating shareholders value
Finmeccanica implemented a brand new Group remuneration policy as a key enabler of the cultural
transformation
The new Plan is now largely equity based and tightly linked to the medium and long-term
objectives set out in the Group Industrial Plan
Incentives are structured into a monetary component and a component expressed in Finmeccanica
equity, with different mix depending on the managerial positions involved
The payment of incentives is conditional on the achievement of three-year targets of:
Relative Finmeccanica Total Shareholder Return (TSR) – 50% of the maximum number of
shares that can be assigned
Return on Sales (ROS) – 25% of the maximum number of shares that can be assigned
Net Financial Position (NFP) – 25% of the maximum number of shares that can be assigned
SHARES CASH
EXECUTIVES WITH STRATEGIC RESPONSIBILITIES AND OTHER TOP MANAGERS 100% -
SENIOR MANAGERS 70% 30%
OTHER PARTICIPANTS 30% 70%
35. 35
A new co-investment Plan
Finmeccanica also introduced a new Co-Investment Plan for the conversion of a portion of the
annual bonus (min 25%, max 100%) into ordinary Finmeccanica shares
At the end of the three-years vesting period, provided that the performance threshold set in the short-
term variable remuneration scheme has been constantly achieved (so called “performance gate”) (*),
bonus shares (“matching shares”) are to be assigned in the proportion of 1 bonus share for each 3
shares held
Year 1 Year 2 Year 3
t0 t3
Bonus share
vesting period
scheme
Vesting period
Delivery of shares
and matching share
(1 share for each 3
shares held)
Assessment of the
positive trend in the
Company’s annual
performance
Vesting period to be
entitled to additional
matching share
(*) The short-term variable incentive is subject to overall business profitability ratios (“performance gate”), the failure to achieve which entails
the zeroing of the entire portion of bonus linked to financial/management objectives.
36. 36
SAFE HARBOR STATEMENT
NOTE: Some of the statements included in this document are not historical facts but rather statements of future
expectations, also related to future economic and financial performance, to be considered forward-looking
statements. These forward-looking statements are based on Company’s views and assumptions as of the date of
the statements and involve known and unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or implied in such statements. Given these
uncertainties, you should not rely on forward-looking statements.
The following factors could affect our forward-looking statements: the ability to obtain or the timing of obtaining
future government awards; the availability of government funding and customer requirements both domestically
and internationally; changes in government or customer priorities due to programme reviews or revisions to
strategic objectives (including changes in priorities to respond to terrorist threats or to improve homeland security);
difficulties in developing and producing operationally advanced technology systems; the competitive environment;
economic business and political conditions domestically and internationally; programme performance and the
timing of contract payments; the timing and customer acceptance of product deliveries and launches; our ability to
achieve or realise savings for our customers or ourselves through our global cost-cutting programme and other
financial management programmes; and the outcome of contingencies (including completion of any acquisitions
and divestitures, litigation and environmental remediation efforts).
These are only some of the numerous factors that may affect the forward-looking statements contained in this
document.
The Company undertakes no obligation to revise or update forward-looking statements as a result of new
information since these statements may no longer be accurate or timely.
37. 37
Contacts
Raffaella Luglini
Head of Investor Relations & SRI
+39 06 32473.066
raffaella.luglini@finmeccanica.com
We do business in a sustainable manner, with a continued commitment to
economic and social development and the protection of public health and
the environment.
ANNUAL REPORT 2014
PRESS RELEASE
VIDEO-WEBCAST
2014 Annual Results
Investor Relations & Sustainable Responsible Investors (SRI)
Valeria Ricciotti
Financial Communication
+39 06 32473.697
valeria.ricciotti@finmeccanica.com
Paolo Salomone
ESG
+39 06 32473.829
paolo.salomone@finmeccanica.com
ir@finmeccanica.com www.finmeccanica.com/investors
Sustainability
Quick links
Alessio Crosa
Fixed Income
+39 06 32473.337
alessio.crosa@finmeccanica.com