Finmeccanica: the board of directors approves the 2011 results

2011 was an extraordinarily difficult year during which we carried out a comprehensive but necessary review of the Group's industrial strategy and business and technological approach.

Rome 26 March 2012

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

2012 forecasts

New orders: approximately EUR 17.5 billion
Revenues: EUR 16.9-17.3 billion
Adjusted EBITA: approximately EUR 1.1 billion
Free operating cash flow: positive

Chairman and CEO of Finmeccanica, Giuseppe Orsi, said:

“2011 was an extraordinarily difficult year during which we carried out a comprehensive but necessary review of the Group's industrial strategy and business and technological approach. Inevitably the balance sheet we are presenting today reflects this and represents the first important step to setting Finmeccanica on a new trajectory. 2012 will be characterised by an improvement in our key balance sheet indicators and will be a year of calibrated transition towards a new Finmeccanica.”

ComFin_Bilancio_2011_27_03_2012_ING.pdf