9 / 28
9
Quarterly Overview
Highlights and Actions
• Improved efficiency of the manufacturing process
• Project execution accelerated thanks to recovery of full capacity
• Enhanced warranty and extended project timing agreed between the parties
Prev Total
WL effect
New Total
WL effect
2016 Prev
Impact
2016 New
Impact
2015 Prev
Impact
2015 New
Impact
2014
Actual
Impact
2014
Actual
Impact
Proj. loss
anticip.
Proj. loss
anticip.
‘14 margin
cancelation
‘14 margin
cancelation
€ 1m H1
€ 25m H2
Sales climbed to €3,737 million
up 7.0% excluding WL impact
Energy & Infrastructure
consolidated recovery
excellent performance
by Energy Projects and Telecom.
Adj. EBITDA at €315 million
excluding WL and €314 million
including WL, posting
a major increase of 54,1%
on €204 million one year earlier
Net financial position
down to €979 million,
better than expected
(consensus at 1,100 mln €),
it was €1,209 million
at 30 June 2014.
FY 2015 guidance confirmed
with goal of reaching
top end of Adj. EBITDA
range €590M – €640M.
24
24
94
94
56
56
30 5
12
26
132
35
17
17
70
70
167
167
Previous Financial Impact
on Adj. Ebitda (€m)
New Financial Impact
on Adj. Ebitda (€m)
Western Link effect: new financial impact 2015-2016
Euro 35 Millions project’s result improvement