Segment information

With regard to the indicators used by the management to assess the Group’s financial performance, please refer to paragraph 2.4 of the Report on operations.

The Group operates in two different segments: signalling, for inter-city and urban railways, through the Signalling Business Unit and transport systems through the Transportation Solutions Business Unit. For more detailed analysis of the main programmes, outlook, and management indicators for each unit, see the Report on operations by segment.

The results of the business units in the 2011 financial year, compared with those for the same period of the previous year, are as follows:

EBIT by Business Unit

31.12.2011 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Revenue 728,375 512,267 - (28,698) 1,211,944
Other operating income 7,884 2,829 30,659 (16,949) 24,423
External costs (434,933) (404,120) 14,757 38,975 (785,321)
Personnel costs (216,982) (49,690) (29,888) - (296,560)
Other operating expenses (2,244) (5,835) (24,842) 7,965 (24,956)
Amortisation, depreciation and impairment (7,021) (442) (5,947) - (13,410)
EBIT 75,079 55,009 (15,261) 1,293 116,120
31.12.2010 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Revenue 841,831 504,448 - (62,569) 1,283,710
Other operating income 7,778 4,355 32,398 (17,362) 27,169
External costs (492,176) (420,418) 10,871 72,180 (829,543)
Personnel costs (232,780) (40,017) (34,430) - (307,227)
Other operating expenses (7,119) (1,695) (17,627) 9,042 (17,399)
Amortisation, depreciation and impairment (13,302) (379) (5,964) - (19,645)
EBIT 104,232 46,294 (14,752) 1,291 137,065

Working capital by Business Unit

31.12.2011 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Inventories 117,730 37,491 576 (25,861) 129,936
Contract work in progress, net (177,964) (271,331) - 25,862 (423,433)
Trade receivables 360,091 371,725 6,962 (58,709) 680,069
Trade payables (170,426) (306,426) (13,711) 58,712 (431,851)
Provisions for risks and charges (17,982) (3,870) (1,284) - (23,136)
Working capital 111,449 (172,411) (7,457) 4 (68,415)
Other net assets (liabilities) - - (20,614) (2) (20,616)
Net working capital 111,449 (172,411) (28,071) 2 (89,031)
31.12.2010 Signalling Business Unit Transportation Solutions Business Unit Other operations Eliminations Total
Inventories 123,810 26,508 3,350 (26,036) 127,632
Contract work in progress, net (273,203) (193,054) (1) 26,036 (440,222)
Trade receivables 357,543 324,864 4,097 (61,696) 624,808
Trade payables (187,152) (262,947) (14,730) 61,696 (403,133)
Provisions for risks and charges (20,698) (670) (1,049) - (22,417)
Working capital 300 (105,299) (8,333) - (113,332)
Other net assets (liabilities) - - (40,895) (26) (40,921)
Net working capital 300 (105,299) (49,228) (26) (154,253)

 

The break-down by geographical area is the following:

Revenue

EUR 000 31/12/2011 31/12/2010
Italy 486,665 556,865
Rest of Western Europe 203,270 253,816
North America 118,636 117,552
Asia Pacific 328,288 215,989
Others 75,085 139,488
Total 1,211,944 1,283,710

Fixed assets

EUR 000 31/12/2011 31/12/2010
Italy 116,639 114,428
Rest of Western Europe 11,467 11,895
North America 14,864 15,765
Asia Pacific 5,264 6,796
Total 148,234 148,884

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 70,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company