Board of Directors approves first-quarter 2011 results.

  • New orders grow 2% versus first quarter 2010, to EUR 3,816 million, with good performance in Energy, Aeronautics and Transport.
  • Order backlog at EUR 48,038 million, providing the Group with about 2.5 years of production coverage.
  • Revenues total EUR 3,855 million in 1Q11, versus EUR 4,039 million in 1Q10 (-5%).
  • Adjusted EBITA at EUR 215 million, versus EUR 251 million in 1Q10 (-14%).
  • Adjusted EBITA margin at 5.6%.
  • Net profit totals EUR 7 million, versus EUR 91 million in 1Q10 (-92%), reflecting increased financial expenses due to changes in the mark-to-market fair value of swaps (not to be annualised ***) as well as lower EBIT.
  • FOCF at EUR -998 million, improving EUR 108 million (+10%) versus EUR -1,106 million at 31March 2010.
  • Net debt stands at EUR 4,051 million, up from 31 December 2010 and 7% lower than in 1Q10. Research and development costs rise 9% year-on-year, equivalent to 10% of revenues.
Rome 28/04/2011