Bilancio Ansaldo - Ansaldo Energia

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machine tools continued in 2011. Once again in 2011, outsourcing related to workload issues was significantly reduced compared with previous years, thanks in part to detailed planning to optimise machine tool performance. The hot blade product was managed with special care to achieve the objective of reducing production while maintaining previous year employment levels. There was a special focus on keeping working capital under control and therefore on closely monitoring the warehouse levels of articles manufactured for stock (higher turnover) or to order, achieving stock levels at the end of 2011 that are aligned with the financial equilibrium goals your Company set itself. Service Segment With confirmation of Ansaldo Energia’s expansion into international markets by acquiring new plant orders and the ongoing desire to raise the profile of the international installed fleet, the organisation of service activities was reviewed to improve regional focus at operational level too, with the aim of increasing proximity to customers and competitiveness. In 2011 customers continued to demand ever higher levels of availability and flexibility. This forced Ansaldo Energia to realign the type and quality of technical and operating support services available, in addition to their capabilities, particularly in terms of organisation, in order to provide an immediate response to customers in terms of quality and reduced outages. Finally, the greater maturity of the resources involved, combined with organisational synergy, has made it possible to improve diagnostic capabilities still further, and to develop best of breed solutions, providing added value both for customers and Ansaldo Energia itself. Development and testing work also continued on new combustion systems, with the goal of improving emissions, flexibility and operating stability. These systems benefit existing plants most. Engineering With the confirmation of the strategy to develop the Company’s presence on international markets and as EPC contractor, an initiative was launched to develop international turnkey contracts. As part of this process, the plant product structure was defined and design systems optimized and modernized. On the product front, during the year the improved AE943A and AE942 gas turbine models were released onto the market, both for new plants and as refits for in-service units. Machinery and plant automation also made an important step forward with the introduction of the latest generation Ansaldo Energia branded platforms. Investments Investments in plant, equipment and machinery in 2011 focused on one hand on upgrading existing production machinery, with the goal of ensuring efficiency on ordinary production activities, and on the other hand focused on introducing new plant and machinery to improve product quality standards. Safety was once again a central theme in 2011 for the entire company and an integral part of the continuous improvement process introduced some years ago, in both production and office areas. Action in blade production departments focused on recouping the efficiency of several strategic machines and the introduction of new technology to provide the department with adequate product control processes and so improve quality standards. In more detail, the first grinding machine bought in the mid 1990s and used to machine hot blades for the AE94.3A and AE94.2 gas turbines was given a major overhaul. This was necessary to maintain the levels of machining precision and efficiency that are indispensable for the hot blades department and at the same time to ensure that the planned production volumes are achieved. Also in the blades line, in order to improve quality and to rationalise the production process, a new automatic system was introduced to perform penetrant liquid tests on blades. This replaces a manual system which did not ensure constant cleaning quality. Also installed
were a new blade washing unit and a special washing station for the high pressure, high temperature flushing of rotating blades. In the generator line, the copper flat wire straightening, stripping and cutting system for rotor semi-coils was replaced. The refrigerator cell resin preparation area was renovated to align it with safety regulations. In the turbine line, a major overhaul was performed on one of the most important horizontal lathes used to machine large-scale steam turbine parts in order to restore its operating conditions and efficiency. Significant investments were also made to evolve ICT systems. ANSALDO ENERGIA ANNUAL REPORT 2011 39 The increasingly critical nature of information security has encouraged the company to introduce an elaborate new preventive ICT security system, with new defences designed to protect the company’s assets. So far as investments in the Company’s property are concerned, in the framework of a broaderranging process to rationalise and digitise the company’s archives, the area used to store documentation about the company’s various activities has been renovated and completely reorganised. In addition, to protect the health and well-being of factory workers, the ventilation has been improved in areas with high concentrations of machine tools to reduce humidity and temperature. PERFORMANCE
Page 1: 2011 A N N U A L R E P O R T
Page 4 and 5: Disclaimer This Annual Report 2011
Page 6 and 7: 84_5 Significant non-recurring even
Page 8 and 9: Boards and Committees
Page 10 and 11: Report on operations
Page 12 and 13: Shareholders The main feature of th
Page 14 and 15: On 26 September 2011, in the framew
Page 16 and 17: operations in currencies other than
Page 18 and 19: Analysis of performance and financi
Page 20 and 21: The balance of other net operating
Page 22 and 23: Financial position
Page 24 and 25: Transactions with related parties
Page 26 and 27: Alternative non-GAAP performance in
Page 28 and 29: 2011 stands at Euro -16.2 million,
Page 30 and 31: Information on the management and c
Page 32 and 33: Performance
Page 34 and 35: ongoing transition in the rest of t
Page 36 and 37: Plant and machinery New orders for
Page 38 and 39: Production Despite the continuing g
Page 42 and 43: Research, Development and Innovatio
Page 44 and 45: control systems based on this techn
Page 46 and 47: Human Resources
Page 48 and 49: Outgoing employees open-ended contr
Page 50 and 51: Security Policy Statement (Legislat
Page 52 and 53: Environment San Severo combined cyc
Page 54 and 55: � REACH REGULATION - Regulation (
Page 56 and 57: Health and safety at work
Page 58 and 59: Performance and highlights of the m
Page 60 and 61: Ansaldo Thomassen BV (ATH) This com
Page 62 and 63: Outlook
Page 64 and 65: Registered offices of the Company A
Page 66 and 67: Report of the Board of Directors an
Page 68 and 69: Financial statements and related no
Page 70 and 71: Statement of Financial Position (Ba
Page 72 and 73: Statement of Cash Flows Euro/thousa
Page 74 and 75: Statement of Comprehensive Income E
Page 76 and 77: Notes to the financial statements a
Page 78 and 79: Development costs Development costs
Page 80 and 81: Work in progress is recognised at p
Page 82 and 83: Cash Flow Hedge Changes in the fair
Page 84 and 85: Equity compensation benefits The Co
Page 86 and 87: In addition, the company’s operat
Page 88 and 89: 6. Segment information The Company
Page 90 and 91:
8. Property, plant and equipment Eu
Page 92 and 93:
List of equity investments at 31 De
Page 94 and 95:
Euro/thousand Current Trade Other T
Page 96 and 97:
that induced the Company to make th
Page 98 and 99:
Gross WIP atl Advances at Net WIP a
Page 100 and 101:
� a receivable from NLC Neyveli f
Page 102 and 103:
Other reserves Euro/thousand Retain
Page 104 and 105:
21. Provisions for risks and charge
Page 106 and 107:
Electricity Authority (“Prepa”)
Page 108 and 109:
The amount recognised in the income
Page 110 and 111:
Euro/thousand Operating lease contr
Page 112 and 113:
Euro thousand Revenues Other Costs
Page 114 and 115:
29. Other operating income (costs)
Page 116 and 117:
32. Changes in inventories of finis
Page 118 and 119:
Euro/thousand 2011 2010 Basis Tax P
Page 120 and 121:
37. Cash flow from operating activi
Page 122 and 123:
At 12.312011 Other customers Euro/t
Page 124 and 125:
Detailed schedules
Page 126 and 127:
Schedule 1 - Equity investments Eur
Page 128 and 129:
Schedule 2 - List of equity investm
Page 130 and 131:
Schedule 3 - Non current receivable
Page 132 and 133:
Schedule 6 - Assets by geographical
Page 134 and 135:
Schedule 9 - Liabilities in foreign
Page 136 and 137:
Schedule 12 - Highlights of the fin
Page 138 and 139:
Report of the Board of Statutory Au
Page 140 and 141:
- it assessed and monitored the ade
Page 143:
ANSALDO ENERGIA ANNUAL REPORT 2011
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Bilancio Ansaldo - Ansaldo Energia

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