Annual Report 2018 -

Annual Report 2018

18 Jul 2019

The annual communication on RINA operations and financial conditions

Ugo Salerno, Chairman & CEO RINA

In 2018, I believe we achieved our vision of “one RINA”: a flexible and global partner delivering consistently excellent service to clients across the Energy, Marine, Certification, Transport & Infrastructure and Industry sectors.

Our efforts to enhance integration and knowledgesharing, combined with the sharper market focus has brought dramatic benefits to our clients, partners and people. Today, any client, of any size and in any field can connect with an office in our global network and feel immediately that they are working together with RINA. Colleagues in different countries with different skill sets are innovating, taking advantage of synergies and developing services that are customised to the needs of clients and fast-changing markets.

As a key element in our four-year strategic plan to drive innovation throughout our business processes and models, the reorganisation has already generated positive results and created a strong platform for sustainable growth. Despite some challenging market conditions in 2018, RINA achieved stable revenue of €440 million and an EBITDA of €51 million. Newly harmonised systems and creative efficiency measures, such as a “smart working” initiative rolled out in 2018, have led to a 9 percent increase in contribution margin to just under 20 percent. Our main driver is not to cut costs for short-term profit, but rather facilitate collaboration and innovation, and ultimately deliver a better service to clients.