Rosetti Marino shipbuilding business plunges deep into the red
The marine division only records 3 million Euro revenue and 2017 year-end figures show 5.8 million loss
As announced by listed at AIM-Alternative Investment Market, after the Board evaluated and approved Rosetti Marino Spa preliminary annual report and Gruppo Rosetti Consolidated Financial Statement for the year ending 31st December 2017, the Ravenna-based company further plunged into the red, almost recording 6 million Euro loss.
Year 2017 revenues went down to 189.51 million Euro versus former 213.01 million of the previous year and final results showed 5.85 million Euro loss versus 1.76 million net income achieved in 2016.
“The current drop, compared to former financial year, partially ensued from the decrease recorded by the shipbuilding division (service units: tugboats, supply vessels and anchor handling ships) which reached overall 3 million Euro (versus 24 million recorded in 2016), while the Process Plant sector generated 36 million Euro GDP (versus 38 million reached in 2016) and the Energy division recorded 151 million Euro like the previous year”, the company reported.
Finally, Rosetti Marino also stated that “in order to cope with the actual drop in output of the shipping division (service ships), the company has founded Rosetti SuperYachts Spa newco, aimed at gaining new contracts for the construction of superyachts and large boats which require the already available shipbuilding infrastructures”.