Finmeccanica Unanimously Approves Interim Financial Report, Third Quarter Results

  • Our Bureau
  • 08:04 AM, November 6, 2014
  • 2692

The Board of Directors of Finmeccanica, convened today under the chairmanship of Gianni De Gennaro, examined and unanimously approved the Interim Financial Report at 30 September 2014 and the results for the third quarter of 2014.

With regard to commercial performance, considerably more orders were acquired than the first nine months of 2013, both in Aerospace and Defence and Transportation, Finmeccanica said in a statement.

The economic results obtained by the Group as at 30 September 2014 show an overall improvement compared to 2013, particularly marked in EBIT (+ 44%) and Net Result (+ 82%), as a result of minor impacts from non-recurring costs and, to a lesser extent, from financial expenses and taxes. The decreased EBITA is in line with forecasts. The costs for a programme of DRS accounted for in the second quarter have been offset by better than expected results of the Helicopters and Aeronautics sectors, as well as by the first benefits from the reduction of costs at Corporate level and the lower loss of the vehicles segment in the Transportation sector.

The FOCF, negative EUR 1,557 millions, is affected by the usual seasonality and includes the payment of the guarantees related to the Indian contract in the Helicopters sector (€mil. 256) made in the second quarter. Without this payment, the figure would have been negative EUR 1,301 millions, better than 2013.

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