Rina, revenues at 664 million and 1,800 hires on the way

Rina, the multinational inspection, certification and engineering consultancy based in Genoa, approves the 2022 budget and presents the industrial plan for 2027. The accounts are good, the prospects are equally interesting. Obviously of growth, above all through the era of the energy transaction and therefore on ESG (environment, society, governance).

The bills

The financial statements see net revenues at 12/31/2022 equal to 664 million euros, up 21% compared to 2021. At the same time, the net profit at 12/31/2022 rose to 12.5 million euros at compared to 8.1 million euros in 2021. The net financial position, normalized for the effects of the treasury share purchase transaction and the acquisition of Patrick Engineering, is equal to 114 million euros.

Plan

The company also presented the new strategic plan to 2027 confirming the main guidelines focused on energy transition and ESG, with a target of organic revenues of approximately 1.25 billion euros. The plan is supported by growth in all reference sectors, from engineering consultancy to Testing, Inspection & Certification (TIC), and aims at expansion both in Italy and abroad (particularly in the USA, the United Kingdom, in the Middle East and Asia). Under the latter lens, the recent acquisition of Patrick Engineering – an engineering consultancy firm based in Chicago active mainly in the infrastructure, transport and renewable energy sectors – should be read, which is part of a development plan in North America in the Energy segments , Industry and Infrastructure & Mobility, where Rina – explains the company – “will focus on the opportunities offered by the infrastructure investment plan announced by the American administration”.

In the Marine sector, the company confirms the strategic importance of Greece and Asia, while the Certification business unit aims at expansion at a European level and at consolidating its positioning in Italy. Furthermore, the company continues on its path to confirm itself as the reference player in the Real Estate segment in Italy and beyond.

The occupation

A development plan is envisaged with significant organic growth: by 2027, there is talk of hiring more than 1,800 profiles worldwide who are specialized in technical disciplines and who will be the protagonists of the Group’s digital development. Among the most sought-after profiles: environmental and IT engineers, project managers and economics graduates.

The outlook

2023, despite the weight of inflation at a global level, “confirms the good performance in the reference markets – as also emerges in the performance in the first quarter aligned with budget expectations – and puts on the table various opportunities on highly topical issues that will accompany the company choices in the near future: from infrastructures to renewable energy, from nuclear to cybersecurity up to space and defence”. CEO Ugo Salerno explains that “2022 closed with results in line with growth forecasts, despite exogenous elements such as the conflict in Ukraine and energy costs. This confirms the solidity of the businesses and the value of our strategic choices such as, for example, the commitment to energy transition and the evolution towards increasingly digital and sustainable services and processes”.

Salerno confirms that the strategic guidelines identified two years ago “continue to materialize: strengthening overseas will allow us to build a solid platform in the US, continuing a path of global organic growth which has brought about a thousand new colleagues to Rina in the last year and which provides for the hiring of around 600 people – half of whom in Italy – by the end of 2023. The realization of the ambitious goals that we have set ourselves for our growth passes through people: the fulcrum on which we move our activities, therefore the reason of each of our successes and the real engine to guarantee the future prosperity of the company”.