Ansaldo STS Reports Consolidated and Parent Earnings Results for the Year Ended December 31, 2017; Provides Revenue Guidance for the Year 2018
March 14, 2018 at 06:15 pm EDT
Ansaldo STS reported consolidated and parent earnings results for the year ended December 31, 2017. For the period, on consolidated basis, the company's revenue of 1,361.0 million, an increase compared with the previous year's value of 1,327.4 million (2.5%). The revenue increase is due to the greater progress of the projects in Americas and Middle East, partially offset by the decrease following the achievement of the final phase of some contracts in Asia Pacific area and Italy. Operating income (EBIT) was 100.8 million compared 126.8 million for the same period a year ago. Net profit was 64.9 million or 0.32 per share compared to 77.9 million or 0.39 per share for the same period last year. Cash flow generated by operating activities was 50.1 million compared to 53.7 million a year ago. EBIT Adjusted was 100.8 million compared 126.8 million for the same period a year ago.
For the period, the company's revenue of 824.8 million compared to 830.0 million a year ago. Operating income (EBIT) was 52.9 million compared 60.7 million for the same period a year ago. Net profit was 72.0 million compared to 145.9 million the same period last year. Cash flow generated by operating activities was 46.5 million compared to 32.4 million a year ago. EBIT Adjusted was 52.9 million compared 60.7 million for the same period a year ago.
The Board of Directors of the company according to company's performance and market outlook, unanimously approved the 2018 Guidance. Revenue expected to be in a range of EUR 1,350 to 1,450 million. Tax rate will be in the range of 26% and 30%.