- Management Consolidated Figures at 30 June 2020 related to the Scope of Continuity[1]:
- Order Backlog: EUR 7.7 billion[2], of which EUR 6.4 billion for construction activities and EUR 1.3 billion for O&M contracts
- New Orders for the reporting period: EUR 442 million
- 2020 Management Guidelines related to the Scope of Continuity reviewed to take into account Covid-19 impacts that are currently foreseeable:
- Total revenue: approximately EUR 1.5 billion;
- Adjusted EBITDA[6]: > 5% ;
- Adjusted EBIT: > 3%;
- Net Financial Debt (after restructuring of debt exposure): positive for more than EUR 300 million.
The Board of Directors of Astaldi S.p.A. met and approved the consolidated figures at 30 June 2020 and took note of the Management Guidelines related to 2020 for the Group’s Scope of Continuity.
[1] “Scope of Continuity” means the set of Engineering, Procurement and Construction contracts, O&M activities and some minor concessions, identified as functional to the continuity of activities within the Plan underlying the Composition Proposal. Figures not subject to auditing.
[2] Order backlog related to construction and O&M activities only referable to the Scope of Continuity, as defined in the Composition Plan.
[3] EBITDA and Adjusted EBIT calculated excluding the non-recurring costs related to the Composition procedure for the half year in question.
[4] The Net Financial Debt, as represented, does not include the effects of the restructuring of debt exposure resulting from the approval of the Composition that took place with decree of the Court of Rome published on 17 July 2020.
[5] The pro-forma indicative estimate, as represented, is functional to represent, with regard to the Net Financial Debt at 30 June 2020, according to evaluation criteria consistent with historical data and in compliance with the reference legislation, the main effects of the equity strengthening transactions envisaged in the Composition Proposal and of the establishment of the Liquidation Perimeter and related restructuring of debt exposure, after payment of privileged and pre-deductible debts. It should be noted that the pro-forma information represents a simulation provided only for describing the possible effects related to the afore-mentioned transactions and since they are constructed to retroactively reflect the effects of following transactions, despite the observance of the commonly-accepted rules and the use of reasonable assumptions, shows the limits related to their intrinsic nature. The pro-forma information does not represent in any form a forecast on the future trend of the Company’s equity, financial and economic position and cash flows, and therefore it should not be used in this sense.
[6] Adjusted EBIT calculated excluding the non-recurring costs related to the Composition procedure for the half year in question from EBIT.
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