A message to our shareholders
Revenue growth, improved profitability and solidity of the financial structure have all characterised 2015, which has closed with better-than-expected results for our company.
In a scenario showing signs of recovery, but nonetheless dominated by uncertainty and strong competitive pressure, our ability to defend the more strategic, high value-added businesses has continued to be decisive.
The market for Submarine Cables and Systems has rewarded our project execution capability, which has been further enhanced by investments in technological innovation, production capacity and in installation with the new cable-laying vessel, Cable Enterprise.
In the Telecom business, our recovery of optical fibre competitiveness and ability to develop innovative technological solutions for broadband, have allowed us to grasp the opportunities in what has proved a solid market.
Our commitment to containing costs and reorganising manufacturing footprint has carried on like in previous years, taking the number of plants closed to 12 since initiating the integration process with Draka.
Thanks to these actions, and careful financial management, the business has been able to rely on strong cash flows and achieve a considerably better net financial position than expected.