1H 2018 RESULTS
30 July 2018 - Board approves 1H 2018 results
30 July 2018 - 1H 2018 results presentation to the financial community
at h. 6:00pm CEST/5:00pm BST/12:00am EDT
To access the audio-webcast and download slides of the presentation, please click here:
2017 Key economic and financial data
2017 full year results are in line with the Guidance revised and, as expected, were affected by some non-structural issues in Helicopters. This sector represents an outstanding business with leading product ranges in reference markets, increasing market shares in the most attractive segments and relevant growth opportunities, as highlighted in the 2018-2022 Industrial Plan.
2017 results highlights are as follows:
- New Orders: amounted to EUR 11,595 million (-3% vs 2016 after adjusting for the effecting of the major EFA Kuwait contract of € 7.95 bn. in 2016). The overall slight decrease was mainly attributable to the abovementioned difficulties that affected Helicopters and to the decline recorded in Electronics, the results of which were also affected by the negative exchange rate effect, in particular on the pound sterling.
- Order Backlog: amounted to EUR 33,578 million (-3.5% vs. 2016).
- Revenues: amounted to EUR 11,527 million, a slight decrease (-4%) compared to 2016, also due to the effect of an unfavourable exchange rate arising from the conversion of revenues into GBP and, to a lesser extent, into USD (about € 160 mln.).
- EBITA: amounted to EUR 1,066 million, showed a decrease of 14.9% compared to 2016, with a decline of 1.2% in ROS.
- EBIT: amounted to EUR 833 million; the decline in EBITA was partly absorbed by a reduction in non-recurring costs and restructuring costs (- € 47 mln.), thus entailing a decrease of € 149 mln. in EBIT compared to 2016.
- Net Result before extraordinary transactions: amounted to EUR 274 million, showed a decline compared to 2016, which was due to the performance of EBIT, as well as to higher financial costs.
- Net Result: amounted to EUR 274 million, equal to the net result before extraordinary transactions, in the absence of extraordinary transactions
- Free Operating Cash Flow (FOCF): amounted to EUR 537 million
- Group Net Debt: amounted to EUR 2,579 million, an improvement of 9% compared to 2016.