Relations with the financial market

The investor relations function reports constantly to analysts and investors in order to understand the informative needs of the market and to address communications to the top management.
The objective is to ensure a correct valuation of the company from the financial market, consistently with the industrial model and already defined strategies.
It is fundamental to create and maintain a relationship of trust in support of the correct disclosure of information. Financial analysts are considered as a reference asset for the understanding of the corporate and business reality and of the strategic line adopted by the Management.
In the course of 2011, three new coverages of the Ansaldo STS stock were initiated by the following merchant banks: Bank Of America – Merrill Lynch, Banca Profilo, Nomura.
Subsequently, Nomura suspended the coverage because of an internal restructuring of the research department but maintained the relations for the management of marketing activities and contacts with investors.
The stock coverage currently concerns seventeen merchant banks, as balance between those banks that suspended the coverage because of corporate changes related to brokers and those banks that initiated the coverage in 2011.
A few of these banks provide sectorial periodical researches and analyses on competitors, that the investor relations function gathers, examines, discloses internally together with official communications from the market.
The annual communication plan is the instrument for planning and developing investor relations activities and is based on a few bearing elements.
First and foremost, the Management’s willingness to meet with institutional shareholders on a regular basis. Some 35 road shows (42 in 2010), conferences and events were organised in 2011 (including: Year End 2010 Results Conference and the first analyst site visit held in Copenhagen with all the reference brokers). Analyses, policies and strategies of the Group industrial activity are disclosed during these events.
On a yearly basis, the investor relations function elaborates the contents, organises and gathers the market reactions, on occasion of the so-called investor day.
This event has become for several analysts and investors the occasion to keep themselves informed within the financial community about the best valuation of the stock and on the reference sector of Ansaldo STS.
This important appointment sees the disclosure of the medium- and long-term plan, which together with the quarterly data represents the basis for the periodical valuations of analysts and investors.
Following an important business negotiation (the stipulation of the contract for the Honolulu metro) the 2011 investor day has been postponed to 2012, to provide at the same time the preliminary closing data for the year 2011, the 2012 guidance and the 2014 objectives.
Lastly, an essential instrument for the investor relations communication is the web-site, whereby institutional and retail investors or more generally anyone can gather the most recent information and use the data accurately filed.
The web-site was updated in 2011; the effectiveness of this change has been confirmed by the Best Improver 2011 prize awarded by KWD Webranking (an agency that monitors and evaluates the effectiveness of the web-sites of listed companies and draws up an annual ranking). The criteria used to make the ranking provide for the examination of each single aspect of communications, from the relationships with investors to the contacts with media; from the implementation of social networks to the transparent management of governance information. Over the past months, Ansaldo STS moved its ranking up from no. 24 to no. 26, recording the best performance of the year.
The second certified Sustainability Report will be presented during the 2012 Shareholders’ Meeting.

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