Finmeccanica shines in Piazza Affari. One hour after the opening, the company's stock gains almost four points, taking the lead in the Ftse Mib, just ahead of Telecom Italia. The defense company's rally was triggered in the wake of the latest quarterly accounts, published last night after the markets were closed.
Finmeccanica closed the third quarter with a net profit of 75 million euros, up by 50 million compared to the same period of 2011. Revenues rose by 8% on an annual basis, to 4,1 billion euros. In the first nine months, profit amounted to 146 million euro (+90%, excluding the effects of exceptional charges and net of the capital gain on the sale of 45% of Ansaldo Energia and related tax aspects). Targets confirmed.
“Third quarter results are better at an operational level with positive contributions from the Helicopters and Aeronautics division,” notes a trader.
The new one also contributes to purchases American order won by AnsaldoBreda, which was awarded a tender worth approximately $300 million for the Miami Metro.
As for the sales of non-strategic assets, the company announced that they will be completed by the end of the year. Some newspapers write that Avio has abandoned the IPO hypothesis and would be the subject of an offer by some private equity funds and the Italian Strategic Fund. “Good news, but divestitures were already planned,” adds the trader.
