INTERMARINE (IMMSI GROUP): 2017 HALF-YEAR FINANCIAL STATEMENTS COMPANY CONSOLIDATES GROWTH TREND
Value of Production 52.9 million euro (27.7 €/mln in H1 2016)
Ebitda 10.9 million euro (-0.1 €/mln in H1 2016)
Ebit 9.8 million euro (-0.6 €/mln in H1 2016)
Net profit 5.5 million euro (loss of 1.8 €/mln in H1 2016)
Net financial position -55.1 million euro
an improvement of 31.1 €/mln from -86.2 €/mln at 30 June 2016
and an improvement of 12.2 €/mln from -67.3 €/mln at 31 December 2016
Order book 263 million euro, guaranteeing production operations for the next three years
Intense international commercial activity continues, with a particular focus on Asian and European countries
Delivery of a minesweeper to a leading navy in the Mediterranean.
The vessel, delivered on schedule, is the first unit of a larger order and complies with the world’s highest quality standards
Sarzana, 24 July 2017 – The Board of Directors of Intermarine S.p.A. (a subsidiary of the Immsi S.p.A. industrial group), has examined and approved the half-year financial report at 30 June 2017
In the first half, Intermarine consolidated the growth trend begun with the completion of its turnaround, reporting a profit and positive performance up on the first half of 2016, with improvements on all the main indicators thanks to production progress on contracts acquired during 2016.
Intermarine Value of Production for the first half of 2017 amounted to 52.9 million euro, an increase (+25.2 million euro) almost doubling the 27.7 million euro of the year-earlier period.
The Value of Production breakdown was as follows:
Ebitda in the first half to 30 June 2017 was 10.9 million euro, a sharp improvement from negative Ebitda of 0.1 million euro in the year-earlier period.
Ebit in the first half of 2017 was 9.8 million euro, compared with negative Ebit of 0.6 million euro in the year-earlier period.
The company posted net profit of 5.5 million euro for the first half to 30 June 2017, a strong improvement from the loss of 1.8 million euro in the first half to 30 June 2016. The profit increase consolidates the growth trend reported in the first quarter on the completion of Intermarine’s
turnaround and reflects the successful management action taken in the past few years and growing international appreciation, above all for the military division, an example of state-of-the-art hi-tech engineering.
The Intermarine order book at 30 June 2017 stood at approximately 263 million euro, guaranteeing production operations for at least the next three years.
Net financial debt at 30 June 2017 was 55.1 million euro, an improvement of 31.1 million euro from
86.2 million euro at the end of the first half 2016 and of 12.2 million euro from the net financial position at 31 December 2016 (67.3 million euro).
The total company workforce numbered 278 employees at the end of June 2017, steady with the figure at 31 December 2016.
In addition to the information published at the time of approval of the 2017 first-quarter results (directors’ meeting of 10 May 2017):
On 21 June, Intermarine announced the delivery of a minesweeper to a leading navy active in the Mediterranean. The vessel, which was delivered on schedule, is the first unit of a larger order, and complies with the highest quality standards.
Intermarine is one of the world’s leading designers, constructors and fitters of special military vessels such as minesweepers, which have highly specific operating requirements. Military minesweepers are extremely advanced vessels requiring specialised competences at every design and construction stage, and are the result of a long process by which the basic Intermarine project is perfected and adapted to the specific needs of the individual customer. An Intermarine minesweeper has a 52.5 metre length and 10 metre beam (for a total displacement of approximately 700 metric tons) and is powered by two diesel engines for a top speed of between 13 and 16 knots. The structure – including the hull – is built using the unstiffened monocoque single skin construction technique, with a fibreglass developed specifically for this type of project.
Intense international commercial activity will continue in 2017, with a specific focus on Asia and Europe.
Positive management of the orders acquired in Mediterranean Basin countries will also continue.
Intermarine management will also pursue every opportunity to contain direct and indirect costs and overheads.
For more information:
Immsi Group Press Office
Diego Rancati
Via Broletto 13 – 20121 Milan – Italy Mob: +39.366.6267720
E-mail: diego.rancati@immsi.it; diego.rancati@piaggio.com stefania.giorgioni@piaggio.com
Image Building Tel. 02 89011300
E-mail: immsi@imagebuilding.it
