RINA acquisitions fuel growth

RINA acquisitions fuel growth

RINA acquisitions fuel growth

International verification, certification and ship classification group RINA continued to grow in 2011 as it embarked on an acquisition strategy. Turnover for 2011 was up to 249 million Euros (+21 per cent) and EBITDA 41 million Euros. Turnover is expected to rise to over 300 million Euros in 2012 following major acquisitions late in 2011.

“2011 was a memorable year for RINA. We celebrated our 150th anniversary by transforming the company. Internally we swept away old divisions and created a flexible matrix structure which frees up innovation and enables us to make the best use of our talents while improving customer service. Externally we began a major programme of acquisitions which enhanced our competences and increased our size by over half. We focussed our investments and growth on growing economies, strongly increasing our footprint in Asia. And we made sure the transformation is solidly based by trimming costs and sharpening our business processes,” says Chairman and CEO Ugo Salerno. “Our acquisition programme widens both our skill base and our geographical outreach. Among four companies brought into the RINA Group in 2012 the two key acquisitions were SIMTEX Srl, the leading private Romanian certification body for corporate management systems and products and D’Appolonia Group, a global engineering consultancy company.

“SIMTEX gives us a strong platform for growth in the expanding economies of Eastern Europe. D’Appolonia’s 600 highly skilled staff will boost our turnover by fifty per cent and bring us a new network of global offices and clients and expertise in strategic consultancy, earth sciences, civil, environmental and structural engineering, risk assessment, health and safety, chemical and process engineering, system and transport engineering, electronics, telecommunications and innovation engineering.

“Diversification in 2011 saw us providing our first certification in the fishing and seafood areas, including the Alaskan salmon fisheries. We delivered the world’s largest transhipment terminal to Vale, in record time and on budget. We grew into aerospace and launched new environmental tools and services. Our power generation teams delivered projects on time in a number of countries. We built our gas business internationally as we became recognised as a centre of LNG and CNG handling expertise. And we substantially increased our R&D efforts, moving beyond

our traditional marine field.”

RINA’s environmental business surged 200 per cent in 2011, certification outside Italy was up 30 per cent and RINA increased market share in almost all sectors.

Against a background of a globally difficult market for shipowners and shipyards marine services continued to be the largest contributor to RINA’s turnover in 2011.

The classed fleet grew by 8.5 per cent to 4,375 ships totalling 33m gt and despite the slowdown in global ordering RINA closed the year with a strong order book of 425 ships totalling 3.3m gt building to RINA class.

The strong results in the marine sector were achieved by expanding into new areas and increasing services to shipowners. Asia showed especially strong growth with the classed fleet of vessels owned in Asia increasing by 25 per cent.

The RINA Group is an international company that helps enterprises and communities to achieve greater competitiveness and effective risk management through the conception, creation, management and assessment of projects. The Group has developed the best competencies and combined them with its own values of integrity and responsibility, gained in over 150 years of experience, into a way of working that meets the highest expectations. RINA Group delivers advanced technical competency through a network of companies dedicated to different sectors covering

Environment and Quality, Energy, Maritime, Ethics and Safety, Food Production and Healthcare, Infrastructures and Constructions, Logistics and Transport. With a turnover of around 300 million Euros in 2012, over 2,100 employees, and 130 offices in 42 countries worldwide, RINA meets the needs of its clients and is recognized as

an authoritative member of key international organizations and an important contributor to the development of new legislative standards. www.rina.org