Annual Report 2016

27 Jul 2017

Ugo Salerno, Chairman & CEO RINA

In 2016 RINA acquired Edif, its largest acquisition ever for €151 million, which was concluded in June. This was a tremendously important step for the company and provided the springboard for the company’s future growth. By acquiring Edif the group is without doubt stronger and more diversified, both in geography and service portfolios. These facts, in combination, point to a future full of great opportunity.

Overall, considering the challenging market conditions during the year 2016, both our test,inspection and certification (TIC) and our consulting engineering (CE) businesses have performed robustly. I have been impressed by the way in which the company’s management team responded to the market, displaying creativity, dedication and strength of purpose to deliver results which,although behind budget in some areas, were never-the-less good under the circumstances.

In 2017 we will be focussing on those markets that offer the greatest potential namely renewable energy, electrical grids, downstream, asset integrity management and industry 4.0. We will actively pursue the market opportunity in China and SE Asia. In addition, we will consolidate our positions of strength in the marine, transport & infrastructure, industry & materials and energy sectors. Our multicultural employees are our greatest asset, they have responded to the challenges of 2016 and they will be the engine to drive the company’s growth in 2017.

RINA is now in an excellent position being closer to our customers to take advantage of the developments in the energy market, the manufacturing market and the marine market.