Ansaldo Sts' profits fell in the first half of 2011. The group lost compared to the same period of the previous year (-3,9%). In more detail, net profit increased from 33,4 million euros to 32,1 million. The volume of revenues was also down, standing at 569,2 million: a worse result than in 2010, when the company reached 584,7 million. This reduction (2,7%) has prompted the board of directors to revise growth estimates for the rest of the year downwards. The difficulties - let the group know - derive from the persistence of the Libyan crisis, "with a consequent negative impact on profitability (Ros)", which fell from 9,9 to 9,2%.
The operating result (Ebit) worsened, going from 57,7 million euros last year to 52,2 million in the first half of 2011, due to lower production volumes and higher commercial and research costs. An item on which the company in the same press release however announces that it does not want to save money: in the first half of 2011, investments were made for innovation amounting to 19,9 million. The net financial position at 30 June 2010 recorded a credit value of 212,8 million euro compared to 318,2 million at the end of 2010, with a decrease of 105,4 million euro after the payment of the dividend for 33,6 million euros.
Orders are up 3,5% to 667,7 million compared to 645,3 million in the first half of 2010. Finally, the new estimates. For the full year, Ansaldo STS now forecasts revenues between 1.180 – 1.260 million, compared to the previous 1.280 – 1.360 million. As regards profitability, the new guidance estimates a ROS between 9,5-10% compared to the previous forecast of around 10,6%.
