- Order intake grew +8.4% in local currency in 2020, pushed by Transport & Defence
- Backlog reached another new historic absolute high (€5,229m), implying 1.72x backlog/revenues LTM
- Revenues in 2020 decreased by -1.6% in local currency (-5.0% in reported terms), although in 4Q20 have grown + 1.0% in local currency vs 4Q19
- Strong impact of FX in 2020 (€-108m in revenues and €-7.3m in EBIT). The impact of FX in the fourth quarter was €-35m in revenues and €-3.6m in EBIT
- Operating Margin amounted to €168m in 2020 (5.5% margin) vs €257m in 2019 (8.0% margin) affected by the accumulated delays and the lower activity. Operating Margin in the fourth quarter stood at 9.0%, helped by the first positive consequences of the action plan
- 2020 EBIT reached €-33m vs €221m in 2019, affected by the delays and lower activity, the action plan provisions (€-189m) and the capital gain of Metrocall (+36m)
- Net Profit was €-65m in 2020 vs €121m in 2019
- Cash generation was €83m (including the €38m cash out of the workforce transformation plan)
- Net Debt (€481m) reached its lowest level in 10 years. Net Debt / EBITDA LTM ratio (excluding the impact of IFRS 16, the action plan costs and the capital gain of Metrocall) stood at 2.5x in 2020 vs 1.8x in 2019
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