Power generation N.1

2005 Financial
Statements: Ansaldo
Energia looks ahead
The General Shareholders’
Meeting of Ansaldo Energia
approved the financial
statements for 2005, which
closed reporting net income of
Euro 17,5m (2,3 from revenues),
operating result at Euro 32.3m,
a net financial position of Euro
214m and an order book
amounting to about Euro
2,300m.
In its press release issued after the
board meeting which approved
the draft financial statements for
2005, Finmeccanica drew
attention to yet another
improvement in operating result,
representing a 95% increase on
the previous year.
As can be seen, successful
management action to relaunch
the company has driven constant
economic and financial growth,
with 2005 representing the fourth
consecutive year of positive
results.
Equally important results, in line
with earnings targets, were also
achieved in other areas by
Ansaldo Energia in the closed
financial year.
The first and most important
achievement is an independent
technology capability, with the
termination by common
agreement of the Siemens licence,
so making Ansaldo Energia a
competitor on equal footing with
leading operators in the sector.
A series of major commercial
successes scored after the
termination of the licence
demonstrate that the company
can look ahead with confidence in
consideration of the satisfaction
shown by important new
customers.
Another important result is service
sector growth. The strategy
adopted to drive development in
the segment and qualify the
company as one of the main
Service Providers on the market,
also embraces a plan to acquire
small and medium players in order
to supplement the competences
already held by the company.
Another important step forward in
the development of Ansaldo
Energia’s operating stance was the
contribution of nuclear activities to
a separate company, Ansaldo
Nucleare. The aim of the operation
was to improve the visibility of
specific business activities and
competences in a national and
international scenario which is
showing renewed interest in
nuclear power, as well as to
develop commercial development
opportunities in four
strategic segments:
decommissioning,
waste treatment,
new plants and
service activities.
New orders worth a
total of Euro 1,007m
were booked in
2005, an increase
on the previous year,
including two 400
MW combined
cycles for the Leinì
and Napoli Levante
power stations,
complete with long
term scheduled
maintenance
contracts, a
repowering project
for Moncalieri
thermoelectric set 2
and the power
island for a
combined cycle
power station to
install in Spain.
Euro milioni
Euro millions
Euro milioni
Euro millions
unità
units
1200
1000
800
600
400
200
0
250
200
150
100
50
0
3000
2500
2000
1500
1000
500
0
This confirms Ansaldo Energia’s
position as the leading supplier of
plant on the Italian market, with
7,400 MW awarded in the fouryear
period 2002-2005, or 51% of
total orders issued.
A number of important awards are
also expected in 2006, with the
finalization of agreements already
stipulated for major new power
stations which are now in the
authorisation and funding stage.
The order backlog of Euro 2,314m
will saturate production capacity in
all sectors in 2006.
Supplier relations were also very
good, with the signing of
numerous collaboration
agreements which have delivered
mutually satisfying results.
ORDINI ACQUISITI / ORDER ACQUIRED
848
905
POSIZIONE FINANZIARIA NETTA / NET FINANCIAL POSITION
53 56
676
79
937
80
1007
2001 2002 2003 2004 2005
214
2001 2002 2003 2004 2005
ADDETTI / EMPLOYEES
2805
2580 2540
2478
2270
2001 2002 2003 2004 2005
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