MILAN/ROME, April 23 Finmeccanica
reported on Tuesday a 786 million euro ($1.02 billion) net loss
in 2012 mainly because of a goodwill writedown on its U.S.
defence electronics unit DRS.
In the first set of results under new chief executive
Alessandro Pansa, the state-owned defence contractor said it
could sell asset to beef up its balance sheet and predicted a
fall in 2013 revenues and broadly stable core profits.
Finmeccanica, Italy's second largest private sector
employer, is undergoing a tough restructuring to focus on its
core defence and aerospace activities and is battling to avoid
credit rating downgrades.
In a statement, Finmeccanica said the impariment on DRS was
993 million euros. In 2011 its net loss totalled 2.3 billion
euros after a heavy provision on its Boeing 787 contract.
Finmeccanica said net debt was 3.373 billion euros at the
end of 2012 and forecast a rise in free operating cash flow to
around 100 million euros this year from 89 million euros in
($1 = 0.7683 euros)
(Reporting By Danilo Masoni and Paolo Biondi; Editing by Lisa