Finmeccanica S.p.A. is an Italian conglomerate. Finmeccanica is the second
largest industrial group and the largest of the hi-tech
industrial groups based in Italy. It operates in seven sectors: Aeronautics,
Helicopters,
Space,
Defence and Security Electronics, Defence
Systems, Energy
and Transportation.
The company has offices in over 100 countries. It is partially owned by the
Italian government, which holds about 30% of Finmeccanica's shares.
Finmeccanica declared [PDF] a EUR 2.3 billion loss for 2011 (slightly
more than $3B) on EUR 17.3B of revenue (-7% vs. 2010) because of high
nonrecurring charges. Sales declined 22% to EUR 17.4B. Total backlog dropped 5%
to 46 billion euros but from the company’s own admission it is “marked by a
number of uncertain orders.”
2011 Results
· New orders: EUR 17.434
billion
· Order backlog: EUR
46.005 billion
· Revenues: EUR 17.318
billion
· Adjusted EBITA: EUR -216
million
· Net loss of EUR 2.306 billion, due to “exceptional events” and “non
recurring charges”
charges of EUR 3.18
billion
· Free operating cash
flow: EUR -358 million
· Net debt: EUR 3.443
billion
· Headcount: 70,474
· Investment in
research and development: EUR 2.02 billion
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