1 April 2016 – The Board of Directors of FINCANTIERI S.p.A. ("Fincantieri" or the "Company"), chaired by Vincenzo Petrone, has approved the Consolidated financial statements at 31 December 2015, the draft financial statements of the parent company at 31 December 2015,prepared in compliance with International Financial Reporting Standards (IFRS), and the Business Plan 2016-2020.
During the Board meeting Giuseppe Bono, Fincantieri's Chief Executive Officer, said:
“Today is a very important day for the Fincantieri Group. We closed 2015 results with an all-time high backlog and further relevant commercial opportunities in an advanced stage of negotiation. With 2015 Fincantieri leaves behind its sector’s longest period of crisis, managed with the most appropriate strategy, which allowed us to get out of it strengthened and as the undisputed leader of high value segments of the shipbuilding industry. Indeed, it is well known that the crisis impacted shipyards globally, notably in Europe, and led to significant job losses. Fincantieri, instead, became the symbol of the Italian industry growth, having internationalized, diversified and strengthened its business, also through acquisitions abroad, becoming a global recognized reference point in its sector.
Bono concluded: "The 2016-2020 Business Plan approved today descends from a long process that allowed us, at a modest cost, all considered, to retain production and engineering potential, which is necessary to seize the cruise sector current boom and the solid outlook of the naval as well as of the equipment, components and services businesses. The actions foreseen by the Business Plan, enacted by a committed and cohesive management team, will allow to increase revenues by 50% and reach an EBITDA margin of 7/8% at the end of the forecast period, as well as post a positive net result in 2016 and distribute dividends on 2017 net income".
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