Rome

Finmeccanica 2012 net loss narrows to 786 million euros

Italian defense giant forecasts flat or lower 2013 sales

Finmeccanica 2012 net loss narrows to 786 million euros

Rome, April 23 - Italian aerospace and defense group Finmeccanica SpA on Tuesday said it had a net loss of 786 million euros in 2012, an improvement on the year earlier's 2.3 billion euro loss. Revenues at the company, which has been hit by scandals - most notably regarding alleged bribes paid to win a 500 million euro helicopter contract in India - stabilized at 17.2 billion euros, compared with 17.3 billion euros in 2011. The company said it forecast a drop in revenues for the current year, to between 16.7 and 17.0 billion euros, an adjusted EBITDA of about 1.1 billion euros and free-cash flow of about 100 million euros.

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