Milan, May the 25th, 2011 – The Shareholders’ Meeting of CESI S.p.A. chaired by the Eng. Salvatore Machì approved the financial report for the accounting year 2010.
CESI is owned for up to 41.4% by Terna and 40.9% by Enel. The remaining shares is owned by some of the main generation and distribution operators of electrical energy like Prysmian Cavi and Sistemi Energia S.r.l, ABB S.p.A.
Matteo Codazzi, CEO of CESI, commented: “2010 has been an important year for CESI, characterized by significant structural changes and ended by the best financial and economical report of the last five years. CESI was focalized not only on the efficiency’s consolidation but also on the development of the necessary bases to face with success the growth of the opportunities in the market. We have accomplished an “operations” and organization redesign also on the administrational and commercial processes. Now the Company is further strengthened on its position of the primary international operator, closer to the needs of its global customers. CESI can look at the future with confidence, aware of its technical excellence, its employees’ expertise, its markets’ diversification and, thanks to the growth of its capital and financial strength, it will be able to get the best opportunities hidden behind every global change. The Company’ s transformation is the most important redefinition of the “operative machine” after the process of unbundling activities of CESI Ricerca in 2006”.
The net income of 2010 is equal to 11 millions of euro, while the net cash flow is 15.6 millions of euro compared to the 10.3 millions of euro of the 2009. This allowed practically to cancel the net financial debt, which was just 0,1 millions of euro at the end of December 2010.
The “Consulting Solutions and Services” division achieved good results in terms of revenues and margins. With a 34% of orders’ increase as regards as the 2009 year, it is ready to become an international actor in giving engineering and consulting services for the production of electrical infrastructural large systems.
The “Testing & Certifications” division strengthened its ability through the commercial, organizational and managerial integration of the factories located in Milan, Berlin and Mannheim, and it is now ready to boost its presence on the Testing and certification global market.
The “Engineering and Environment – ISMES” division is involved on important infrastructural development plans for Italian costumers like Terna and Enel. It helps them in monitoring environmental issues and in giving infrastructural engineering services.