Basis of preparation

Ansaldo STS group’s interim financial report at 30 June 2014 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 2014 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. 1606/202, 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 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, 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 2013 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 2013 annual consolidated financial statements, to which reference should be made, except for those which became effective as of 1 January 2014, as set out in paragraph 2.2.1.

The condensed interim consolidated financial statements of Ansaldo STS group at 30 June 2014 were approved and authorised for publication by the board of directors in accordance with ruling legislation on 28 July 2014.

Amounts are shown in thousands of euros unless stated otherwise.

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

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