Finmeccanica's group net profits more than quadrupled to L780 billion ($360 million) last year, up from L141 billion in 1999, with turnover stable at L12,053billion. The Italian conglomerate's aerospace and defence activities, which it regards as core, had sales of L7,856 billion (65% of the total) - generating an operating profit of L793 billion - and should account for an even bigger share following planned disposals.
Finmeccanica president Alberto Lina says the group may sell its energy and transportation businesses this year, and confirms it is considering selling a 2-3% stake in electronics specialist StMicroelectronics, in which it has a 22% stake and which delivered a major part of the group net profit.
The aerospace and defence businesses had a profit margin of 10.1%, with a high in helicopters (14%) and a low in defence (4%), which was impacted by losses in Alenia Marconi Systems, Finmeccanica's joint venture with BAE Systems.
Source: Flight International
