Finmeccanica SpA reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported EUR 3,700 million compared to EUR 3,686 million reported a year ago. Adjusted EBITA was EUR 181 million compared to EUR 173 million reported a year ago. EBIT was EUR 149 million compared to EUR 142 million reported a year ago. Net profit was EUR 6 million compared to EUR 24 million reported a year ago. Funds from operations were EUR 22 million compared to funds from operations in negative of EUR 83 million reported a year ago. Free operating cash flow was EUR 1.435 million compared to EUR 1.138 million reported a year ago. The company reported net debt of EUR 4,858 million, return on investment of 9.3% and return on equity of 0.7% against net debt of EUR 4,515 million, return on investment of 8.1% and return on equity of 2.0% for the same period a year ago. The company confirm the guidance for the full year 2013 prepared at the time the 2012 annual report was prepared.

Finmeccanica SpA, Q1 2013 Earnings Call, May 15, 2013

Finmeccanica SpA reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenues of EUR 5,079 million against EUR 5,036 million for the same period in the last year. Adjusted EBITA was EUR 339 million against adjusted LBITA of EUR 30 million for the same period in the last year. LBIT was EUR 1,081 million against EUR 1,785 million for the same period in the last year. Net loss before discontinued operations was EUR 932 million against EUR 1,985 million for the same period in the last year. Net loss attributable to the owners of the parent was EUR 946 million or EUR 1.638 per basic and diluted share against EUR 1,990 million or EUR 0.004 per basic and diluted share for the same period in the last year. Basic and diluted LPS from continuing operations was EUR 1.638 against EUR 0.004 for the same period in the last year. EBITA underlying was EUR 339 million against EUR 313 million for the same period in the last year. Free operating cash flow was EUR 1.5 billion, an increase from EUR 1.2 billion in the fourth quarter 2011. For the year, the company reported revenues of EUR 17,218 million against EUR 17,318 million for the same period in the last year. Adjusted EBITA was EUR 1,080 million against adjusted LBITA of EUR 216 million for the same period in the last year. LBIT was EUR 457 million against EUR 2,386 million for the same period in the last year. Net loss before discontinued operations was EUR 786 million against EUR 2,306 million for the same period in the last year. Net loss attributable to the owners of the parent was EUR 828 million or EUR 1.433 per basic and diluted share against EUR 2,345 million or EUR 4.061 per basic and diluted share for the same period in the last year. Funds from operations were EUR 1,183 million against EUR 908 million for the same period in the last year. Free operating cash flow was EUR 89 million against negative free operating cash flow of EUR 358 million for the same period in the last year. Basic and diluted LPS from continuing operations was EUR 1.433 against EUR 4.061 for the same period in the last year. Net financial debt was EUR 3,373 million as at the end of 2012 against EUR 3,443 million as at the end of 2011. Adjusted net losses excluding non-controlling interests were EUR 828 million or EUR 1.433 per diluted share against EUR 2,345 million or EUR 4.061 per diluted share for the same period in the last year. Adjusted losses - continuing operations excluding non-controlling interests were EUR 828 million or EUR 1.433 per diluted share against EUR 2,345 million or EUR 4.061 per diluted share for the same period in the last year. EBITA underlying was EUR 1,080 million against EUR 878 million for the same period in the last year. Negative ROE was 18.9% against 39.4% for the same period in the last year. For the fourth quarter the company reported impairment of goodwill of EUR 1,148 million against EUR 701 million for the same period in the last year. The company’s revenue for the full year of 2013 is expected to be in the range of EUR 16.7 billion and EUR 17.0 billion. Adjusted EBITA will still increase in the Aeronautics and Helicopters business segments, while it will decrease in the Defence and Security Electronics business segment (specifically at DRS, while a slight improvement is reported at SELEX ES) and will still be negative in the vehicles segment. Adjusted EBITA will thus approximate about EUR 1.1 billion. FOCF will have a positive value of about EUR 100 million. Cash flows from ordinary operations will have a positive value near to EUR 1.1 billion (after having paid restructuring costs of about EUR 600 million, of which about half relates to the provisions that were necessary in the 2011 financial year), while net flows from investing activities (substantially in the absence of grants under Law 808/85) will be near to EUR 1 billion. The expected 2013 investment expenses have been limited to the minimum necessary, which is essential to continue the programmes that are being produced/developed (with particular reference to the B787 aeronautic programme); substantially, no ‘launches’ of new programmes are expected in any sector of the group.