Fincantieri Infrastructure, here are accounts and business (are you aiming for nuclear power?)

Fincantieri Infrastructure, here are accounts and business (are you aiming for nuclear power?)

Numbers and activities of Fincantieri Infrastructure

Deep red for Fincantieri Infrastructure.

The company controlled by the Fincantieri Spa group (71% owned by the CDP), born on 28 March 2017, closed the 2020 financial year with a loss of 5.7 million euros (compared to a profit of 1.7 million euros of 2019).

The company charges the negative result to the critical issues that emerged in 2020 related to the Covid-19 pandemic which slowed down commercial activities.

Fincantieri Infrastructure specializes in the design, construction and assembly of steel structures for complex projects. It was created “to enhance the group's diversification strategy by building on Fincantieri's experience” in the construction of bridges and large steel structures.

In partnership with Webuild, Fincantieri Infrastructure rose to prominence for the construction of the new Ponte Morandi in Genoa, Ponte San Giorgio.

Furthermore, again with WeBuild, Fincantieri Infrastructure participates in the construction in Romania of a suspension bridge, which once completed will be the longest in the country and the third with the longest central span in Europe. The contract value for Fincantieri is approximately € 70 million. Based on the order received, Fincantieri Infrastructure will supply the metal deck for the bridge. At the moment it has achieved a progress of more than 50% of the order.

In the last two years, in addition to the bridge in Romania, Fincantieri Infrastructure has signed agreements to build the port of Rapallo and with Bologna Calcio to build the new Dall'Ara stadium.

“Genoa is therefore not our first extra-naval commitment and it will not be our last. Among other things, the country is in great need of renewal of its infrastructural works, also because concrete has an average life of 60-70 years ” declared Marcello Sorrentino , CEO of Fincantieri Infrastructure a year ago .

All the details.

GOVERNANCE

Fincantieri Infrastructure is 100% controlled by Fincantieri Spa. The controlled company is led by the CEO Marcello Sorrentino. Alessandro De Dominicis chairs the board of directors.

WHAT DOES HE DO

The company has its registered office in Trieste and its operational headquarters in the Valeggio sul Mincio plant. At the end of 2020 it had 80 employees.

The workshop is equipped with systems for cutting, welding and steel processing, even for large thicknesses. As he explains on the website , the company is thus able to ensure the entire production process, from cutting to sandblasting and painting.

The Veronese plant reached full operations in 2020 for production destined for the Infrastructure sector.

BOOM IN REVENUES

Fincantieri Infrastructure recorded a turnover of 253,707,882 euros in 2020, an increase compared to 1,840,397 euros in 2019.

The year recorded an increase in the value of production from 110.7 million euros in 2019 to 124 million euros in 2020, resulting from the production of orders for the Polcevera bridge, for the Danube Bridge in Romania and the installation of structures metalwork complete with civil works and systems, at the Marghera and Monfalcone sites.

BUT NEGATIVE RESULT

However, the operating result is negative, with a loss of 5,699,668 euros (against the profit of 1,772,494 euros in 2019). The costs of production amounted to 134,619,901 euros.

The company boasts a total of tangible fixed assets worth € 16,477,115, and a total debt of € 116,178,583.

ORDER PORTFOLIO

In 2020, despite the commercial activities slowed down by the Covid crisis, the order backlog amounted to 162.7 million (slightly down from 196 million in 2019).

Furthermore, in 2020, in collaboration with Fincantieri Infrastructure Opere Marittime, the reconstruction of the Vado Ligure Dam was acquired.

THE ACQUISITION OF INSO AND SOF

In December 2020, Fincantieri Infrastructure finalized the acquisition of the main business unit headed by INSO – Sistemi per le Infrastruttura Sociali SpA, including the subsidiary SOF, formerly part of the Condotte group, in extraordinary administration since 2018, setting up a newco , Fincantieri INfrastructure SOciali, 90% owned by Fincantieri Infrastructure and 10% by Sviluppo Imprese Centro Italia SGR SpA (SICI), representing the Tuscany Region.

This operation brings to Fincantieri 1 billion orders, a significant and international workload, thanks to important orders in Italy and abroad (Chile, France, Greece, Qatar, Algeria). The newco will operate in various fields: that of health infrastructure; that of concessions, providing facility management services, for its own sites and on behalf of third parties; and as a system integrator in the supply of medical equipment and technologies. In this way, the workforce of INSO and SOF, currently equal to about 450 employees, will also be preserved.

ESTABLISHED THREE COMPANIES IN THE USA

Finally, to support the internationalization activities, the company has set up three companies in the USA for projects under development in Wisconsin and Florida. The parent company is Fincantieri Infrastructure USA Inc (100% controlled by Fincantieri Infrastructure spa) which is responsible for Fincantieri Infrastructure Wisconsin Inc and Fincantieri Infrastructure Florida inc, the latter established in early 2021.

And at the beginning of July, the Cruise Division of the MSC Group and Fincantieri announced the signing of a contract for the construction by Fincantieri Infrastructure Florida of a new mega cruise terminal at the port of Miami, the cruise industry hub for North America and Caribbean. The new terminal will involve an investment of approximately 350 million euros.


This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/fincantieri-infrastructure-ecco-conti-e-business/ on Mon, 27 Sep 2021 05:57:46 +0000.