Ansaldo STS cuts dividend, sees possible orders recovery
MILAN, March 5
MILAN, March 5 (Reuters) - Italian rail technology company Ansaldo STS cut its 2012 dividend by 10 percent to 0.18 euros on Tuesday as it predicted new orders to remain flat or slightly rise this year.
The company, in which state-owned defence group Finmeccanica owns 40 percent, said it expected new orders of between 1.5 billion and 1.7 billion euros in 2013 against 1.49 billion euros ($1.9 billion) in 2012 when they slumped 31 percent.
Ansaldo STS said although it was not possible to expect a resumption of its contracts in Libya due to uncertainty in the country, its well-established presence in high-growth markets made it positive about its future prospects.
It said revenues were seen at 1.25-1.35 billion euros in 2013, against 1.25 billion euros in 2012, with a return on sales of 9.5 percent.
The company said its chairman Alessandro Pansa had decided to resign because of the extra work required by his new role as head of Finmeccanica. ($1 = 0.7677 euros) (Reporting By Danilo Masoni, editing by Antonella Ciancio)