Basis of preparation

Ansaldo STS group’s interim financial report at 30 June 2013 is drafted in accordance with article 154-ter.2 of Legislative decree no. 58/98 (the Consolidated Finance Act) and subsequent amendments and integrations. The condensed interim consolidated financial statements at 30 June 2013 included in this interim financial report are drafted in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standard Board (IASB) and endorsed by the European Union pursuant to EC regulation no. 1606/2002, integrated by the interpretations of the International Financial Reporting Interpretations Committee (IFRIC) and the Standing Interpretations Committee (SIC) applicable at such date. The acronym “IFRS” covers all the above standards and interpretations. Specifically, these financial statements have been drafted in accordance with IAS 34 “Interim Financial Reporting”, issued by the International Accounting Standard Board (IASB) and are comprised of an income statement, a statement of comprehensive income, a statement of financial position, a statement of cash flows, a statement of changes in equity and the notes thereto.
As per IAS 34 “Interim financial reporting”, the notes to the condensed interim consolidated financial statements do not include all disclosures required for annual financial statements, as they refer only to those items that are essential to understand the group’s financial position, results of operations and cash flows given their amount, breakdown or changes therein. These condensed interim consolidated financial statements should, therefore, be read in conjunction with the 2012 annual consolidated financial statements.

The statement of financial position and the income statement are likewise presented in a condensed format compared to the annual consolidated financial statements. The notes include a reconciliation with annual consolidated financial statements for the items combined in the condensed interim consolidated financial statements.

The accounting policies used for the condensed interim consolidated financial statements are unchanged from those of the 2012 annual consolidated financial statements, except for those which apply specifically to interim financial statements and the interim financial report at 30 June 2012. As described in paragraph 8.2.1, the new standards which became effective as of 1 January 2013 had no significant effect on this interim financial report. Specifically, as detailed later on, starting from 1 January 2013, the group has adopted IAS 19 revised.

The condensed interim consolidated financial statements of Ansaldo STS group at 30 June 2013 were approved and authorised for publication by the board of directors in accordance with ruling legislation on 26 July 2013.

Amounts are shown in thousands of euros unless stated otherwise.

The condensed interim consolidated financial statements were reviewed by KPMG S.p.A..

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 70,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company