In the period from 31 December 2010 to 30 December 2011, the official price of the stock moved from EUR 9.15 (figure restated for purposes of comparison – originally EUR 10.67 - following the free share capital increase occurred on 4th July) to EUR 7.31, with a decrease of 20.1%.
On 4 July 2011, the Company implemented the second tranche (the first was made in July 2010) of the free share capital increase through the issue of 20,000,000 new shares, at the ratio of one newly-issued share to six shares held.
The stock hit its highest value for the period with EUR 9.61, official closing price of 14 January 2011, and its lowest value with EUR 5.46, official closing price of 13 September 2011.
The daily average volumes for the period amounted to 849,470 shares exchanged.
The stock performance was scarcely correlated compared with the reference indices.
In the course of 2011, the FTSE All Share Italy index fell by 24.3%, while the FTSE Italia STAR index dropped by 19.0%.

The analysts’ evaluations at 31 December 2011 achieved average consensus in terms of price objective of EUR 8.6.
The year 2011 has been a particularly troubled year for Ansaldo STS; the stock has been influenced by the Libyan crisis in consideration of the important job-orders obtained in the area (the Management has promptly informed the market about any possible financial impact) and has suffered from the increased perception of the country risk on Italy by the financial market, like the entire Italian Stock Exchange list.
In the second half of the year, the stock performance has been influenced by the rumours relating to the possible disposal of the majority shareholder’s portion. The news has generated a higher speculative interest on the Ansaldo STS stock. However, new positions of high-speculative funds have not been reported.
The market still perceives the Ansaldo STS stock as defensive and anti-cyclic, as is the reference business, in an ever growing segment, highlighting Management’s capacity to collect new and important opportunities globally.

Stock performance

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