Shareholders Meeting Mauro Moretti CEO and General Manager 11 May 2015
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
The new Finmeccanica objectives 1. Improve Profitability: ROS around 2 digits by end 2016, no P&L volatility and material net income increase 2. Increase Cash flow conversion rate at adequate levels 3. Reduce Operating Net Invested…
The new Finmeccanica objectives Industrial strategy Improve the key industrial processes (Engineering, Supply Chain, Manufacturing) of our operating business, to reach an adequate level of efficiency and effectiveness Re-design the…
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
2014 Group performance FY 2013 2014 % Change Restated Mln New Orders 15,619 15,059 3.7% Backlog 38,234 36,831 3.8% Revenues 14,663 13,690 7.1% EBITA 1,080 878 23. 0% ROS % 7.4% 6.4% 1.0 p.p. EBIT 692 (14) n.a. Net result…
FY2014 Results ahead of expectations Robust commercial performance: orders at 15bn (+4% YoY), book to bill 1 Good A,D&S order acquisition driven by Helicopters (+4%YoY), thanks to UK MoD orders (AW101 and Apache Customer Support)…
FY2014 Results ahead of expectations Strong profitability improvement: EBITA at 1,08 bn (+23% YoY), RoS at 7.4% Strong underlying improvement in Helicopters, excluding one-off benefit of US Presidential Helicopter in 2013 Step…
Net Result before extraordinary transactions ahead of expectations Back in the black 2013 2014 388 mln Mln 1,080 92 212 below the line more 84 Mln 892 mln than halved 692 443 878 423 386 179 70 83 -14 495 140…
Results of Finmeccanica SpA FY Mln 2014 2013 % Change Revenues 64 67 -4,5% Purchase and personnel expense -127 -153 - Other net operating income/(expenses) -1 79 - Amortisation, depreciation and impairment -11 -16 - losses…
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
Helicopters FY 2013 2014 % Change Mln Restated Orders 4,556 4,386 3.9% Revenues 4,376 4,049 8.1% EBITA 543 547 (0.7%) ROS % 12.4% 13.5% (1.1) p.p. Strong performance in 2014 Activities on new products progressing well:…
EU Defence Electronics and Security - Selex ES FY 2013 2014 % Change Mln Restated Orders 3,612 3,457 4.5% Revenues 3,577 3,214 11.3% EBITA 185 71 n.a. ROS % 5.2% 2.2% 3.0 p.p. 2014 recorded a significant step up in results…
US Defence Electronics and Security DRS FY 2013 2014 % Change Mln Restated Orders 1,945 1,991 (2.3%) Revenues 1,877 2,213 (15.2%) EBITA 31 194 (84.0%) ROS % 1.7% 8.8% (7.1) p.p. Order intake in line with last year, for the…
Aeronautics FY 2013 2014 % Change Restated Mln Orders 3,113 3,422 (9.0%) Revenues 3,144 2,816 11.6% EBITA 237 199 19.1% ROS % 7.5% 7.1% 0.4 p.p. Good production performance, mainly B787, ATR as well as M346 and EFA M346: 8…
Space FY 2013 2014 % Change Mln Restated EBITA 52 55 (5.5%) Revenues expected to grow, mainly thanks to manufacturing and launch operations services Business performance expected to improve, despite a decline in industrial…
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
FY2015 Guidance Key Assumptions The forecasts for the next financial years no longer include operations in the Transportation sector. This follows the agreement reached at the end of February, which provides for the sale to the Hitachi…
FY2015 Guidance Key Assumptions Orders and Revenues: moderate growth, taking into account the changes in perimeter (B787 pass- through and DRS) Profitability: meaningful step up of 10% Below EBITA line: much lower volatility,…
FY2015 Guidance FY2015E FY2014A Old Guidance FY2015E New Guidance GROUP Reported Pro forma A&D (incl. Transport.) New orders bn 15.6 12.6 14.0 14.5 12.0 12.5 12.0 12.5 Revenues bn 14.7 12.7 14.0 14.5 12.0 12.5 12.0 12.5…
Delivering on Industrial Plan Medium Term Objectives EBITA +20% and RoS +150b.p. from 2014 to 2016 SG&A reduction 10% from 2013 to 2015 CAPEX and capitalized R&D rationalization 20% from 2013 to 2017, rebalancing depreciation…
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
Aerospace, Defence and Security Market Expected to grow in the long term WORLDWIDE MARKET: EVOLUTION BY MACRO-BUSINESS SECTOR (2014-2023) - BLN CAGR % 2014-2023 630 8 550 8 Civil helicopters 2.1 8 104 445 10 Military helicopters…
Aerospace, Defence and Security Market Major spenders not expected to change dramatically 2014 PROCUREMENT AND RDT&E* TOP SPENDER EVOLUTION (% OF GLOBAL BUDGET) Defence 42% Procurement + RD&TE* 290 Bln 24% 10% 5% 4% 4% 3% 3% 2%…
Aerospace, Defence and Security Market Different dynamics in our major markets ITALIAN MOD AND MOED BUDGET - BLN UK DEFENCE BUDGET - BLN US DEFENCE BUDGET - BLN CAGR 12 150 -3.9% 4.7 132 20% 11 4.5 10 33% 121 4.0 17% 35% 20%…
Group Competitive positioning Improving the international footprint NATIONAL VS INTERNATIONAL 2013 REVENUES 14% Companies with a strong positioning in the 22% 20% 18% 27% civil segment have historically an higher 40% international…
Group Competitive positioning Leveraging on dual use to develop our business model KEY COMPETITORS: MILITARY VS CIVIL 2013 REVENUES Finmeccanica still needs to do more to rebalance its portfolio mix towards civil, leveraging on…
Group Competitive positioning Our business portfolio is too diversified Presence MBDA A,D&S KEY PLAYERS Military Helicopters Civil Military Aeronautics Civil Defence Defence Electronics and Security Security…
Group Competitive positioning A diversified portfolio is not an advantage FNM Sectors Main Lines of Business FNM Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Civil Helicopters L L Helicopters Military…
Restructuring and development Key objectives Increase the efficiency through the cost reduction in: Staff No waste Engineering New Organisational and Operating Model Cut inefficient operating cost Supply chain Eliminate unprofitable…
Restructuring and development Five key pillars Quality & Effectiveness Costs Internationalisation & Market Disposals Rolling Stock FEWER BUSINESSES 1 Bus business FOCUS ON A,D&S Industrial plants Other minor activities…
Focus on the New Group Organisational and Operating Model One single company The new structure will provide the following benefits: Shorter and simpler chain of command with quicker decision making, higher flexibility and operational…
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
The New Short and Medium-Long Term Incentive Plan One of the key enablers of Finmeccanica transformation is the new Incentive Plan, that includes a Long-Term Incentive Plan and a Co-investment Plan of the annual bonus earned The new…
The Co-investment Plan The new Co-Investment Plan for the conversion of the annual bonus into shares consists in voluntarily deferring the payment of a portion of the annual bonus earned from a minimum of 25% up to a maximum…
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
Shareholding evolution Growth of institutional investors Over the last 10 years, the shareholder base of Finmeccanica went from being mainly domestic to being mainly international, pursuant to the internationalisation strategy followed…
Shareholder distribution in Q1 2015 50% of the total share capital is held by institutional investors 49.8% Institutional Investors 30.2% Ministry of Economy and Finance 20% Retail Investors (domestic) GEOGRAPHIC…
Finmeccanica share performance May 2014 May 2015 Finmeccanica +98% FTSE MIB +14% S&P600 +18% 3,3 bn 6,5 bn (May 2014) (May 2015) Market capitalization almost doubled 40
The new Finmeccanica objectives 2014 Results of the Group and of Finmeccanica SpA Sector results and outlook Guidance 2015 and medium term outlook The new Industrial Plan The new Management Incentive Plan Shareholding and share…
Sustainability in Finmeccanica Finmeccanica has been engaged on the reporting of the extra-financial Group performance, mainly through: The delivery of a certified Sustainability Report since 2011 The annual participation to the Dow…
Engagement with responsible stakeholders The information on sustainability performance is the main tool of engagement with a wide variety of stakeholders which analyze and assess the Group on the basis of Environmental, Social and…
Sustainability Report 2014 (1/2) Main changes on the process Reporting activity centralized Structured materiality analysis to identify the most significant issues for the Group and its stakeholders The new materiality matrix,…
Sustainability Report 2014 (2/2) Main changes on the content New chapters: The New Strategy and Business conduct New topics: Materiality Anti-corruption prevention Wisemen Committee and whistleblowing Security Management Risk…
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