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6. Interim Financial Report of Ansaldo STS Group As of 30 June 2018

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6. Interim Financial Report of Ansaldo STS Group As of 30 June 2018 INTERIM FINANCIAL REPORT OF ANSALDO STS GROUP AS OF 30 JUNE 2018 ANSALDO STS S.p.A. Registered office in Genoa, Via P. Mantovani 3-5 Share capital paid up Euro 100,000,000 Genoa Business and Trade Registry - Tax ID 01371160662 - 1 - CONTENTS Company Bodies and Committees ............................................................................................................... 4 Directors’ report as at 30 June 2018............................................................................................................ 5 Introduction................................................................................................................................................. 5 Key performance indicators of the Ansaldo STS Group................................................................................ 5 Consolidated Financial Position................................................................................................................. 11 Reconciliation between the profit for the period and the shareholders’ equity of the Parent Company and the Group ....................................................................................................................................................... 13 Composition of “non-GAAP” alternative performance indicators and other indicators ................................ 14 Alternative “non-GAAP” performance indicators....................................................................................... 14 Other indicators no GAAP......................................................................................................................... 15 Related-party transactions.......................................................................................................................... 16 Report on operations.................................................................................................................................. 17 Market and Business scenario.................................................................................................................. 17 Business Performance ............................................................................................................................. 20 Significant transactions during the period and events after 30 June 2018 ....................................................... 26 Research and development ........................................................................................................................... 27 Human resources and Organisation............................................................................................................... 29 Ansaldo STS ............................................................................................................................................. 29 Headcount as at 30 June 2018.................................................................................................................... 30 Financial Disclosure..................................................................................................................................... 31 Corporate governance and ownership structure pursuant to Article 123-bis of Legislative decree No. 58 of 24 February 1998 and subsequent amendments and additions (CONSOLIDATED FINANCE LAW) ... 32 Outlook ....................................................................................................................................................... 36 Condensed interim consolidated financial statements as at and for the six months ended 30 June 2018. 37 1 Financial statements........................................................................................................................ 38 1.1 Consolidated income statement....................................................................................................... 38 1.2 Consolidated statement of other comprehensive income .................................................................. 39 1.3 Consolidated statement of financial position.................................................................................... 40 1.4 Consolidated statement of cash flows .............................................................................................. 41 1.5 Consolidated statement of changes in equity.................................................................................... 42 2 Notes to the condensed interim consolidated financial statements as at 30 June 2018 ....................... 43 2.1 General information........................................................................................................................ 43 2.2 Basis of consolidation..................................................................................................................... 44 2.3 Consolidation Scope ....................................................................................................................... 48 2.4 Exchange rates adopted................................................................................................................... 50 3 Segment reporting........................................................................................................................... 51 4 Notes to the consolidated statement of financial position ................................................................. 52 4.1 Related-party transactions............................................................................................................... 52 4.2 Intangible assets ............................................................................................................................. 56 4.3 Property, plant and equipment......................................................................................................... 57 4.4 Equity investments ......................................................................................................................... 57 4.5 Non-current receivables and other assets ......................................................................................... 59 4.6 Inventories...................................................................................................................................... 60 4.7 Assets and Liabilities from contracts............................................................................................... 60 4.8 Trade and financial receivables ....................................................................................................... 61 4.9 Tax receivables and payables ......................................................................................................... 62 4.10 Other current assets........................................................................................................................ 63 4.11 Cash and cash equivalents.............................................................................................................. 64 4.12 Share capital.................................................................................................................................. 64 4.13 Retained earnings .......................................................................................................................... 65 4.14 Other reserves................................................................................................................................ 65 4.15 Equity attributable to non-controlling interests ............................................................................... 67 4.16 Financial payables ......................................................................................................................... 67 4.17 Provisions for risks, charges and contingent liabilities ..................................................................... 69 4.18 Employee benefits ......................................................................................................................... 70 4.19 Other current and non-current liabilities .......................................................................................... 71 4.20 Trade payables................................................................................................................................ 72 4.21 Guarantees and other commitments................................................................................................ 72 5 Notes to the consolidated income statement..................................................................................... 73 5.1 Impact of related-party transactions on profit or loss....................................................................... 73 - 2 - 5.2 Revenues from contracts with customers......................................................................................... 75 5.3 Other operating income.................................................................................................................. 75 5.4 Purchases and services................................................................................................................... 76 5.5 Personnel costs .............................................................................................................................. 76 5.6 Amortisation, depreciation and impairment losses .......................................................................... 77 5.7 Other operating expenses ............................................................................................................... 77 5.8 Internal work capitalised...............................................................................................................
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