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ECONOMIC PERFORMANCE
AND INVESTMENTS
The Costa Crociere Group performed well in fiscal 2015 and continued to enjoy a
substantial recovery. The Group carried a total of 2.6million guests during the reporting
period, which was substantially in line with the number of passengers carried in
2014; this result was achieved in the context of ongoing economic headwinds and the
consequences of the terrorist attacks in Tunisia and Paris, which negatively impacted
demand in the tourism industry internationally but especially in the Mediterranean.
Operating income was 482 million euros, a slight increase on the previous year (477
million euros)
2
. If we leave to one side the impact of extraordinary operations, the
increase in profit in 2015 amounts to 32 million euros in absolute terms, up 6.3%
on the previous year. This positive result was accomplished partly on account of the
growth in revenues (+86 million euros), driven by the increase in passenger capacity
following the entry into service of the ship Costa Diadema at the end of 2014, and
also thanks to energy-saving efforts with a range of initiatives and actions aimed at the
monitoring and reduction of fuel consumption, fuel being one of Costa’s major cost
items. In 2015 the average cost per metric ton fell by 25.6%, enabling a saving in the
income statement.
Added Value
1.1%
for the State and Public
Administrations in the form of
income tax paid by Group
companies
28.5%
for shareholders in the form of
dividends
29.3%
for Company growth by means of
reinvestment of a portion of net
income (including 2.3% set
aside for the Legal Reserve
and 27% for depreciation of
technical and intangible fixed
assets used in the production
process)
0.9%
for lenders remunerated by
means of financial charges
0.1%
for the community by means of
initiatives in support of
organizations and associations
The net Added Value
3
distributed in 2015
amounted to 1,377 million euros, a year-
on-year increase due both to the higher
revenue from cruise sales and to the
lower intermediate production costs; the
breakdown is as follows:
40.1%
for employees’ salaries, wages
and social contributions
2
The 2014 figure was impacted by
extraordinary impairments to the
tune of 26 million euros following the
termination of the charter contracts for the
Iberocruceros brand ships, while operating
income in 2015 includes depreciation for
the amount of 53 million euros for the
writedown of the ship Costa neoRiviera
following an impairment test carried out at
the end of the fiscal year.
3
Added Value was calculated for the Costa
Crociere Group using the continuing
operation principle.
0.1%
40.1%
EMPLOYEES’
WAGES ETC
COMMUNITY
28.5%
SHAREHOLDERS’
DIVIDENDS
0.9%
LENDERS
1.1%
PUBLIC
ADMINISTRATION
ALLOCATION
OF
ADDED VALUE
29.3%
REINVESTMENT