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maire tecnimont spa (MT) Snapshot

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04/7/14 - €2.92
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maire tecnimont spa (MT) Details

Maire Tecnimont S.p.A., together with its subsidiaries, operates in engineering and construction, technology and licensing, and energy and ventures businesses worldwide. The company is involved in the engineering and construction of hydrocarbon processing plants and hydrocarbon-based power generation plants; waste-to-energy and district heating plants; energy transformation and transmission systems; and plants and systems for the natural gas industry, and chemicals and petrochemicals industry. It also designs and executes civil engineering projects, such as roads, motorways, underground and over ground rail lines, tunnels, bridges, and viaducts; and industrial, commercial and service sector facilities and buildings. In addition, the company manages large and complex integrated projects in the oil and gas, petrochemicals, fertilizers, power-generation, and infrastructure sectors. Further, it provides various proprietary technologies and associated engineering services, which include development and licensing of urea technology, hydrogen and syngas technology, gas treatment, and sulphur recovery. Additionally, the company offers project development, financing, operation, and maintenance services to energy and ventures sector. Maire Tecnimont S.p.A. is headquartered in Milan, Italy.

4,300 Employees
Last Reported Date: 07/31/14
Founded in 1973

maire tecnimont spa (MT) Top Compensated Officers

Chief Executive Officer, Chief Operating Offi...
Total Annual Compensation: €1.2M
Total Annual Compensation: €1.5M
Compensation as of Fiscal Year 2013.

maire tecnimont spa (MT) Key Developments

Maire Tecnimont S.p.A. Announces Consolidated Earnings Results for the First Half Year Ended June 30, 2014; Provides Earnings Guidance for the Second Half of 2014

Maire Tecnimont S.p.A. announced consolidated earnings results for the first half year ended June 30, 2014. For the year to date, the company’s total revenues were EUR 756.537 million, up 2.6% compared with EUR 737.340 million a year ago. EBITDA was EUR 52.536 million against EUR 42.174 million a year ago. EBIT was EUR 49.017 million against EUR 35.057 million a year ago. Pre-tax profit was EUR 30.253 million against EUR 15.249 million a year ago. Profit after tax was EUR 19.427 million against EUR 10.228 million a year ago. Diluted share was EUR 0.057 against EUR 0.000 a year ago. Cash flow used in operations was EUR 21.683 million against EUR 110.439 million a year ago. Investment on non-current tangible assets was EUR 0.819 million against EUR 1.269 million a year ago. Investment in intangible assets was EUR 0.350 million against EUR 2.745 million a year ago. Business Profit was EUR 93.0 million, up 11.8% from EUR 83.3 million for the year ago period, due to the evolution of the higher-profit projects in the backlog, driven by the Oil, Gas & Petrochemicals BU. EBITDA increased 24.6% year over year, this increase is mainly due to higher Group business margins, particularly in the Oil, Gas & Petrochemicals BU. The net financial debt as on June 30, 2014 was EUR 364.4 million, as compared to EUR 332.3 million as at 31 December 2013 and EUR 372.9 million as at 31 March 2014. The change was mainly affected by the physiological reduction of available cash in the joint ventures as projects have evolved. The company provided earnings guidance for the second half of 2014. In light of the positive results and commercial achievement in the first six months of the year 2014, positive margins for the second half of 2014 are expected to be maintained. This objective will continue to be driven by the high technological activities carried out in line with the group's strategic guidelines. Specifically, the group expects new awards in the next few quarters in the core business of the OG&P BU, as confirmation of the industrial repositioning which has already generated new orders in the last part of the 2013 and in the first six months of 2014.

Maire Tecnimont S.p.A., Q2 2014 Earnings Call, Jul 31, 2014

Maire Tecnimont S.p.A., Q2 2014 Earnings Call, Jul 31, 2014

Maire Tecnimont S.p.A. Announces Board Changes

The Maire Tecnimont S.p.A. Board of Directors co-opted a Director to replace Paolo Tanoni. The task falls to Andrea Pellegrini, who will remain in office until the next shareholders' meeting. The Board of Directors has verified that the Director Andrea Pellegrini meets the independence requirements laid down by the Consolidated Law on Finance and the Corporate Governance Code. The Board has also supplemented its internal Committees as follows: the Audit and Risk Committee, comprising Directors Gabriella Chersicla (acting as Independent Chair), Andrea Pellegrini (independent) and Stefano Fiorini; the Remunerations Committee, comprising Directors Andrea Pellegrini (acting as Independent Chair), Vittoria Giustiniani (independent) and Luigi Alfieri; the Related-Party Committee, comprising Independent Directors Gabriella Chersicla (Chair), Patrizia Riva and Andrea Pellegrini. It has also accepted the resignation of Antonia Di Bella, who had been appointed Regular Auditor by the shareholders' meeting on 30 April 2013, drawn from the majority slate. In accordance with the law and the articles of association, Roberta Provasi has been drawn from the majority slate to take over as Regular Auditor and shall remain in office until the next shareholders' meeting.


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Valuation MT Industry Range
Price/Earnings 23.3x
Price/Sales 0.4x
Price/Book 9.3x
Price/Cash Flow 17.3x
TEV/Sales NM Not Meaningful

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