Mediobanca: Costa is One of Italy’s Top Ten Most Profitable Companies

For the third year running, Costa Crociere S.p.A. stands out at the top of the rankings in the survey of leading Italian companies carried out by Mediobanca’s Research Unit, comprising over 3,700 Italian enterprises that recorded revenue of at least 50 million euros last fiscal year. According to the findings of the study, the European n.1 cruise company has further improved its business performance.

In the most recent edition of the survey, dealing with corporate results for FY 2009, the Italian Company has climbed further up the rankings of the country’s best-performing businesses: Costa Crociere S.p.A. moves up to 8th place in the standings in terms of profitability, with net income of 442 million euros (it was ranked 10th in 2008), and is in 49th place in terms of size, with revenues of 2.6 billion euros in 2009 (compared to 65th place the year before).

Regarding the number of employees, Mediobanca’s research shows that Costa Crociere S.p.A. is second in what concerns the employment growth over the previous year, both in absolute terms, with 4,393 new recruits – that percentage (24.6%).

It is thanks to results like these that Costa Crociere S.p.A. is Italy’s largest travel group and the only cruise company.

In fiscal 2009 a total of around 1.8 million Guests went on a cruise vacation on board one of the ships of the Costa Crociere S.p.A. Group (comprising the brands Costa Cruises, the leader for the German-speaking market AIDA Cruises, and Iberocruceros, which operates for the Spanish- and Portuguese-speaking markets). The number of total Guests is expected to reach 2.1 million in 2010.

At present the Costa Crociere S.p.A. Group has a total of 25 ships in service (14 for Costa Cruises, 7 for AIDA Cruises and 4 for Iberocruceros) with another 5 due by 2013 (2 for Costa Cruises and 3 for AIDA Cruises). All Costa Cruises and Aida ships fly the Italian flag.

Costa Cruises’ fleet expansion program began in 2000 and provides for the entry into service by 2012 of 13 ships, including 9 built in Italy by Fincantieri. Two of these new ships are currently under construction in Marghera: the first, Costa Favolosa (114,500 gross tonnage and 3,780 total Guests), is due to enter service in summer 2011, while the second, the sister ship Costa Fascinosa, will be ready in spring 2012, by which time the Costa Cruises fleet will be 16-strong.

In overall terms, the fleet investment program launched by the Costa Crociere S.p.A. Group in 2000 is worth over 9.6 billion euros. Based on the present size of the fleet, in 2013 the Group will have 30 ships in service.

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