risorse aziendali e creazione di valore in ansaldo sts sergio de luca ceo march 14th, 2013 sts
TRANSCRIPT
Risorse Aziendali e Creazione di Valore in Ansaldo STSSergio De LucaCEO
March 14th, 2013
STS
Infr
astr
uct
ure
Veh
icle
sS
ign
alling
TechnologyIntegrator
Oth
er
Su
bsystem
s
Operation & Maintenance
General Contractor
AnsaldoSTS: mastering Transport Solutions and Signalling
Different Subsystems and Services composing a Turnkey Transport System
Transport Solutions BU acts as a General Contractor, both singularly or as a partner of a Consortium
The Transport Solutions BU supplies other subsystems + (Power Supply, TLC...) bought from third parties, often performing the detailed subsystem design & engineering
ASTS main role is as a technological integrator (Transport Systems BU) and as a supplier of signalling equipment (Signalling BU)
The Transport Sollutions BU supplies the track works for High-Speed Railways
The Transport Solutions BU supplies Operation and Maintenance services
Ansaldo STS: Wide portfolio of technologies moving people and goods safely
High Speed LineMain Line Railways Low Density & Freight Railways
Metro
Queensland Rail Broadlea Wotonga Implementation & OthersHamersley Hope, Rio Tinto (Australia)Optimized Traffic Planner, Union Pacific (US)CTC/CAD, CSX (US)
Rome Termini (1st Computer Based Interlocking) Saarbrücken Mannhein, Swedish Ester projectCambrian line, Manchester Node & Metrolink
Italy HSL networkFrance HSL networkMadrid-Lerida (Spain 1st ERTMS Lev2)Channel TunnelParis-Channel Tunnel-London; Paris- BrusselsKorea HSL QinShen(China 1st dedicated passenger line)
LRT / Tramways
Transport SystemsCopenhagen (1st Driverless Steel-Wheel Metro)Brescia, Milan, Thessaloniki, RomeSignallingNY, LA, Shanghai, Binhai, Paris Dublin Light Metro
Kuala Lumpur LRT
4
60% Free Float as of 12.31.20121 60% Free Float as of 12.31.20121
1. Remaining 40% owned by Finmeccanica
A Public Company trusted by International Investors
23% of investors are in North America
CountryMain
HeadcountJan 2013Locations
ITALY Genoa 1.534 NaplesTurinPotenza
FRANCE Les Ulis 518 Riom
SPAIN Madrid 69
UK London 5 Manchester
SWEDEN Stockholm 43
USA - CANADA Pittsburgh Batesburg
AUSTRALIA Brisbane 582
Perth,
INDIA Bangalore 204
MALAYSIA Kuala Lumpur 174
BOTSWANA Gaborone 29
CHINA Hong Kong 66
Other Locations 14
TOTAL 4.017
779
Montreal
Bejing
20%3%
38%
13%
26%
APAC
USA CanadaRest of EuropeFranceItaly
Worldwide Presence
6
WMATA Silver SpringPAAC North Shore
ConnectorNew York MetroChambers Street
- NYCT
WMATA Silver SpringPAAC North Shore
ConnectorNew York MetroChambers Street
- NYCT
Los Angeles Metro (Green Line)
Los Angeles Metro (Green Line)
Manchester Node& Metrolink
Cambrian line
Manchester Node& Metrolink
Cambrian line
ACS Palermo RailwaysRome Station C.B.I. SCMT / ACS Installations
ACS Palermo RailwaysRome Station C.B.I. SCMT / ACS Installations
Conventional & Driverless Metros Rome, Naples, Milan,
Brescia, Genoa
Conventional & Driverless Metros Rome, Naples, Milan,
Brescia, Genoa
Madrid-LeridaHigh-Speed LineMadrid-Lerida
High-Speed Line
Channel TunnelChannel Tunnel
Copenhagen Driverless Sweden Ester ERTMS Lev. 2 O&M contracts Copenhagen City ring
Copenhagen Driverless Sweden Ester ERTMS Lev. 2 O&M contracts Copenhagen City ring
Ghaziabad KampurIndian Railways
Ghaziabad KampurIndian Railways
Taipei Circular Line Phase 1Kuala Lumpur LRT
North Ipoh ti Pedang Besar
Taipei Circular Line Phase 1Kuala Lumpur LRT
North Ipoh ti Pedang Besar
Clearways 3Hamersley Hope; Dows
Rio Tinto Roy Hill Iron Ore
Clearways 3Hamersley Hope; Dows
Rio Tinto Roy Hill Iron Ore
France TGVFrance TGV
JacksonvilleCTC
JacksonvilleCTC
China & Korea High-SpeedBinhai, Daegu Busan Shitai Line Shenyang
Line 1 Shangai MetroERTMS Zhengxi Line
Hangzhou Metro line 1Chengdu CBTC
China & Korea High-SpeedBinhai, Daegu Busan Shitai Line Shenyang
Line 1 Shangai MetroERTMS Zhengxi Line
Hangzhou Metro line 1Chengdu CBTC
ATC InstallationSaarbrücken
Mannhein ERTM Lev. 2
ATC InstallationSaarbrücken
Mannhein ERTM Lev. 2
Thessaloniki MetroETCS Lev. 1 Terra -
ERGA OSE
Thessaloniki MetroETCS Lev. 1 Terra -
ERGA OSE
Turkey BegazkopruUlukisla Yenice and Mersin Toprakkale Metro Ankara
Electrification and Signalling
Banlieu sud Tunis
Italian High-SpeedMi-Bo & RM-NA,
FI-BO, TO-MI
Italian High-SpeedMi-Bo & RM-NA,
FI-BO, TO-MI
Libya Ras Ajdir SirtiAl-Hisha Sadha &
Sirth-Benghazi lineCPTM CAB
Riyad Metro Women’s University
Riyad Metro Women’s University
6
Honolulu Rail TransitHonolulu Rail Transit
International Player
Omaha OTPOmaha OTP
7
EUR mil 2008 2009 2010 2011 2012Order Backlog 3.136 3.760 4.551 5.453 5.683New Orders 1.297 1.786 1.985 2.164 1.492Revenues 1.106 1.176 1.284 1.212 1.248EBIT 118 125 137 116 117ROS% 10,6% 10,6% 10,7% 9,6% 9,4%Net Profit 78 88 95 73 76
Net Working Capital (166) (187) (154) (89) (48)Total Assets 1.132 1.375 1.620 1.741 1.865
Net Financial Position (Positive Cash) (196) (279) (318) (290) (302)Equity 239 302 382 424 469Total Net Invested Capital 43 23 63 135 167
•Healthy backlog (4.6 times Revenues)
•Strong orders intake – positive book-to-bill ratio
•Revenue growth with sustained profitability
Note: Currency FX for P&L amounts and new orders is the average fx rate for each individual year presented, for order backlog is the fx rate at year-end for each individual year presented
Key Data Trends - Growth with sustained profitability
C.E.OC.E.O
TransportationSolutions Business Unit
(TS BU)
• Sales & BD•Project & Risk Mgt.•RAMS•Engineering•Construction & Commis•Operation & Maint.
TransportationSolutions Business Unit
(TS BU)
• Sales & BD•Project & Risk Mgt.•RAMS•Engineering•Construction & Commis•Operation & Maint.
Innovation & CompetitivenessInnovation & Competitiveness CFO, HR, Strategy, Ext. Communication, Legal, HSE & FacilityCFO, HR, Strategy, Ext. Communication, Legal, HSE & Facility
Standard Platform & Products
(SPP)
•Portfolio Management•Products & Generic application deliveries•Supply Chain
Standard Platform & Products
(SPP)
•Portfolio Management•Products & Generic application deliveries•Supply Chain
SignallingBusiness Unit
(SIG BU)
•Sales & BD•Project & Risk Mgt.•RAMS•Engineering•Construction & Commis•Operation & Maint.
SignallingBusiness Unit
(SIG BU)
•Sales & BD•Project & Risk Mgt.•RAMS•Engineering•Construction & Commis•Operation & Maint.
Company Organization
Strategy enablers: implementation monitoring for all strategic change initiatives + HR programs to improve capabilities & performance of Global workforce
ASTS still committed and able to deliver superior value creation
Commit-ment
Superior value creation with conservative outlook• Sustain revenue growth leveraging healthy backlog while protecting profitability
Funda-mentals
Market: Large & still growing but more competitive, volatile and changing in geo mix- Consolidation is happening for real: Siemens-Invensys deal
Technology: Core technologies becoming global solutions integrated in a diversified and proven portfolio to serve global and local needs
People/capabilities: Globally integrated organization delivering on time and on budget but needs to be even more efficient & effective especially in distant & “just enough” markets
Business model: Unique client centric business model shaped to win in the competitive arena- Risks due to limited scale/support network and uncertainties on AB future
Strategicdirections
Focus on attractive markets where
Ansaldo STS can enjoy good competitive
positioning
Build competitive advantages and
ensure long-term growth
Stay competitive and agile optimizing organizational
model and product competitiveness
Market selectivity Innovation Effectiveness and efficiency 2 3 4
Support network and access to Rolling Stock1
5
Key values and company resources
SignallingMarket
TransportationSolutions
2012 2015
~14.1B€~14.1B€
~15.1-16.3B€~15.1-16.3B€
~ 10.0
~ 5.1
~6.0–6.6
~1
~1,2-1,3~1-3% CAGR
~5-9% CAGR
~10.4-11.0
~2.8-5.1% CAGR
Market: healthy and still expected to grow at 3%+Geo mix evolving: more growth outside of Western Europe
1996 2011
New mining freight networks in AustraliaSIG Mass transit in USSIG / TS
Iron OreIron Ore
Turkey, Middle East, North AfricaSIG East AsiaSIG / TS
New sweet spots in Signalling and Transportation Solution
Hedging core European markets
Honam HSL (S Korea) Honam HSL (S Korea)
TramWave licensing TramWave licensing to CNR (China)to CNR (China)
Hangzhou line 2 (China) Hangzhou line 2 (China)
Shah-Habsan-Shah-Habsan-Ruwais line (UAE)Ruwais line (UAE)
ETCS L1 onboard for 80 ETCS L1 onboard for 80 locos (Turkey)locos (Turkey)
Roy HillRoy Hill
Rio TintoRio Tinto
€m€m €m
1990s Now 1990
s Now 1990s
ERTMS
Current portfolio includes a wide range of solutions and technologies at different life cycle stages: a key asset
Mature Emerging Leading edge
Life-cycle stage
Solutions(samples)
Technologies(samples)
Comp. Based interlocking
(CBI)
Driverless CBTC Satellite-based
TramwaveWayside PTCATS Infrastructure monitoring
Distributed interlocking
Now
Evolving competitive scenario: Siemens-Invensys deal
• Signaling (or Rail Automation) is a key part of Infrastructure & Cities division and core to Siemens new go to market strategy– Same relationship exists between Signaling and
Transportation Solutions within ASTS– This is a key trend common in the whole industry
• M&A activity and consolidation are an "evergreen idea" in rail transportation industry– Other two technology full liners - Alstom & Bombardier - could beat
Siemens to the finish line …– … and/or newer players could enter Signaling and therefore
Transportation Solutions
• Siemens decided to pay a very high premium for Invensys Rail just to make the first move in the industry– Invensys has been on sale for a long time: sooner or later someone
would have taken it over
Siemens-Invensys deal:
an expensive defensive
move by the market leader
to protect“the core of
Infrastructure & Cities”
Industry dynamics have not changed: no new integrated player has been created
Consolidation
Price pressure has continued into 2012
2008 - 20092008 - 20092000 - 20072000 - 2007 2010 - 20112010 - 2011 2012 - 20162012 - 2016
-15%
Increasing competition
Product standardization
Aggressive efficiency programs
Poor financial performance
-20%
Some price pressure is starting to show up also in Transportation Solutions
Price level
External drivers of price pressure
Revised estimate of price trend
Last year’s estimate
People development is placed at the top of the corporate agenda...
Fu
ture
imp
ort
ance
1. The Conference Board "CEO Challenges 2006" results of global CEO survey with 540 responses 2. CEOs who nominated factor as of greatest concern/among my chief concerns (%).Note: Future importance, relevance today, and capability were items asked in Web surveySource: Proprietary Web survey with responses from 83 countries and markets; BCG/WFPMA analysis, 2008
88
87
84
78
78
76
74
73
71
69
0 20 40 60 80 100
Speed, flexibility, adaptability to change
Sustained and steady top-line growth
Customer loyalty/retention
Stimulating innovation/creativity/enabling entrepreneurship
Tight cost control
Availability of talentedmanagers/executives
Cost/ability to innovate
Employee loyalty/commitment/job satisfaction
Transferring knowledge/ideaspractices within the company
Succession planning%2
Uncritical Somewhatcritical
Very critical
Low relevance today
High relevance today
BCG study (2008): key HR topics for 2017BCG study (2008): key HR topics for 2017 CEO top challenge priorities1 CEO top challenge priorities1
Low
High
LowHigh
Managing
diversityManaging
corporate socialresponsibility
Managing
work-lifebalance
Managingdemographics
Becoming a learningorganization
Delivering on
recruiting andstaffing
Managingchange and
culturaltransformation
Enhancing
employeecommitment
Improving leadershipdevelopment
Improving
performancemanagementand rewards
Restructuring
the organization
Transforming HR
into a strategic partner
Measuring HR and
employee performanceProviding shared
services andoutsourcing HR
Mastering HR
processes
Managing
globalization
Managing
talent
Current capability
Three key pillars for people development to best address target group needs
Leadershipdevelopment
Talent management
Core competencymanagement
(L&D)
What leadership model is best suited to drive the organization's strategy and match the desired culture?
What talent segments and key positions should be focused on, and how can they be attracted and internally identified?
How can staff capabilities be mapped and effectively managed for business impact?
Key segmentsKey segments Guiding questionsGuiding questions
Source: BCG
Segment approaches by value contribution and distinct target group needs
958580 100907570656055
+38%
45403530252015105 500
+196%
+72%
+56%
-2%
+9%
-29%
+132%
+51%
Develop tailored career tracks
Improve the visibility of talented employees for the corporate center
Hire talented employees from competitors
Source talented employees globally
Source talented employees locally
Develop specific compensation schemes for talented people
Move businesses to new locations to access talented people
Establish alumni networks
Launch initiatives that target specific groups of potential employees, such as various ethnicities, immigrants, and
women
Companies forecast a critical importance of development activities (talent management)
Which of the following aspects of talent management are, and will be, the key actions of HR in your company?
Which of the following aspects of talent management are, and will be, the key actions of HR in your company?
Note: Participants could make multiple selections. Regression analysis on topic capability with 5% significance level. * = 10% significance level. Source: BCG/WFPMA analysis
Today (2007) In future (2010–2015) Increase rate
Respondents (%)
Companies forecast a critical importance of development activities (learning and staff development)
Which are, and will be, your key actions in order to encourage a learning organization in your company?
Which are, and will be, your key actions in order to encourage a learning organization in your company?
60 95905
+113%
35 7550 6530
+24%
2015 100100
+72%
45 5540 8525 8070
+25%
+129%
+56%
-32%
-13%
+61%
+48%
+7%
+26%
Today (2007) In future (2010–2015) Increase rate
Leverage senior managers as central personnel developers
Leverage trainee programs, job enlargement, job enrichment, and job rotation (on-the-job development )
Invest in IT-based learning-management systems to closely monitor individual activities
Leverage external consultants as central personnel developers
Leverage e-learning
Leverage business schools as central personnel developers
Leverage case studies and speeches (off-the-job development)
Leverage in-house training capabilities
Leverage quality circles and project teams (near-job development)
Leverage outplacement and retirement preparation (out-of-the-job development)
Leverage coaching, counseling, and mentoring (parallel-to-the-job development)
Leverage introductory sessions and training (prejob development)
Note: Participants could make multiple selections. Regression analysis on topic capability with 5% significance level. Source: BCG/WFPMA analysis
Respondents (%)
959085807570656055505 454035302520
+122%
+35%
+23%
+31%
15 100100
+114%
+257%
+95%
+88%
+56%
+36%
+17%
-6%
+38%
Companies forecast a critical importance of development activities (leadership development)
What are, and will be, the key actions for HR to prepare the leaders?What are, and will be, the key actions for HR to prepare the leaders?
Develop company-specific leadership seminars in cooperation with business schools
Use assessment centers to assess employees' leadership skills
Develop company-specific leadership seminars with the help
of external consultants
Use internal coaching from top management
Provide financial rewards for good leadership
Use external consultants to assess employees' leadership skills
Measure leadership skills through 360° feedback
Develop an internal brick-and-mortar leadership institute
Have senior executives assess employees' leadership skills through action-learning seminars
Use external leadership seminars
Develop company-specific leadership seminars on your own
Employ external coaches
Develop an internal virtual leadership institute
Note: Participants could make multiple selections. Regression analysis on topic capability with 5% significance level. * = 10% significance level. Source: BCG/WFPMA analysis
Today (2007) In future (2010–2015) Increase rate
Respondents (%)
1. Based on end-of-year closing prices 2. Average growth rate of companies' share prices in percent (weighted by 2001 share prices), dependent on sample composition for each particular year
+10
"People" companies outperform the market average
1. Based on end-of-year closing prices Source: 2012 BCG/WFPMA proprietary web survey and analysis
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
+109
S&P 500
Companies that made Fortune's "100 Best Companies to Work For"2
+99 percentage
points
People companies outperform the
market average in eight out of ten
years
150
100
50
0
–50
Cumulative growth rate of share price (%)1
HR development programs are critical for an effective ASTS global organization
Key elements of the program• Open: anyone can apply• Selective: 20 Future Leaders selected every 2 years for a 2-year Program• Challenging: assigned to one or more priority Group projects (operational/strategic) & expected to work
hard• International: part of 2 years spent Internationally; 20 Future Leaders coming from all ASTS countries• Developing: frequent feedback sessions with Supervisors & Mentors; 6 weeks of external executive
MBA training• Rewarding: monetary incentives for those selected and especially for those graduating
Systematic and fact-based selection process started in April and concluded in early October 2012• Objective and fact-based: quantitative standard tests (GMAT, TOEFL) and clearly defined decision
criteria• Transparent: clear and direct feedback to non-selected candidates and also to their supervisorsProgram being kicked-off in Genoa during the week of 17-21 December 2012
Future Leaders
Global Talent Mana-
gement
Identified ~400 Global Talents from all ASTS companies• Identified with bottom-up process within each global/local function: based on performance and
potential• Complemented with candidates from Future Leaders selection process: those who made it to the
final rounds and interviewed with senior leaders but were not selected among the 20• Classified between Managerial and Professional profiles• List/database will be updated every year
Established practical yearly process driven by ASTS Strategic Committee• Every year: define Priority List of ~80 people from overall pool of Global Talents• Hold quarterly Talent Management meetings: go through Priority List and identify specific
opportunities, can be new jobs/assignments but also leadership roles in internal projects
• Commitment to identify opportunities for entire Priority List within any given year
Future Leaders: fondamenti del programma
Le caratteristiche dei Future LeadersLe caratteristiche dei Future Leaders Le caratteristiche principali del programmaLe caratteristiche principali del programma
• Aperto: tutti possono fare application
• Selettivo: 20 Future Leaders selezionati ogni 2 anni per un programma di 2 anni; possibilita’ di escludere dal programma chi non performa adegautamente
• Sfidante: assegnati a uno o piu’ progetti prioritari per il gruppo (operativi e /o strategici); attesi massimo impegno e dedizione all’esperienza professionale
• Internazionale: parte dei 2 anni fuori dal paese di origine; 20 selezionati provenienti da tutto il mondo
• Formativo: frequenti sessioni di valutazione/feedback con managers e mentors; 6-8 settimane di executive training organizzato da importante scuola MBA per Ansaldo STS
• Incentivante: incentivi/bonus per i 20 selezionati ma soprattutto per quelli che completano con successo i 2 anni di programma
• Vogliono mettersi in discussione• Desiderano contribuire a cambiare l’azienda• Possono prendere le posizioni di massima
responsabilita’ del gruppo entro 5 anni
Future Leaders: perché e quali risorse si stanno cercando
Le ragioni per lanciare il programmaLe ragioni per lanciare il programma
Abbiamo bisogno di più leaders capaci di operare con efficacia in un contesto globale•Crediamo di avere un buon senior leadership team ma siamo anche consapevoli che esistono ampi spazi di miglioramento dovuti soprattutto alla necessita’ di gestire un’organizzazione globale integrata invece di organizzazioni locali indipendenti
Come azienda, dobbiamo sviluppare internamente la maggior parte dei nostri futuri leaders•Il nostro settore ha specificità e barriere tecniche•Assumere dall’esterno ai massimi livelli funziona in alcune funzioni ma non in tutte
Vogliamo far emergere talenti con una modalità “attiva”, attraverso una presa di responsabilità diretta sul proprio autosviluppo
Vogliamo comunicare concretamente a tutta l’azienda quanto crediamo nella leadership, nella responsabilita’, e nell’imprenditorialita’ come valori chiave•E vogliamo cogliere l’opportunita’ di identificare nuovi potenziali talenti, anche tra quelli non selezionati per Future Leaders
I principi guida per la selezioneI principi guida per la selezione
Comunicazione chiara e trasparente agli executives di tutto il mondo•Ragioni per lanciare il programma•Un programma voluto fortemente dal CEO per supportare il processo di cambiamento
Aperto a qualsiasi dipendente•Tutti hanno potuto fare application, indipendentemente dalla posizione organizzativa e dalla valutazione dei manager
Oggettivo/fattuale•Tests con risultati quantitativi – inclusi GMAT e TOEFL•Sforzo di quantificare tutti i criteri: es. lettere di motivazione valutate su 4 dimensioni con voti da 1 a 3 per ciascuna dimensione
Trasparente•Feed-back diretti e chiari ai candidati non selezionati (e anche ai loro capi)
Autoesclusi che non hanno completato tutti i tests/ interviste richiesti
Future Leaders: i numeri del processo di selezione
Criteri di selezione
• Capacita’ analitiche e logico/critiche misurate dal GMAT (voti 250-720)
• Anni di esperienza professionale rilevante
• Conoscenza inglese misurata dal TOEFL
• Lettere di motivazione (voti da 4 a 12)
• Test online SHL di potenziale (voti 1-5)
• Intervista strutturata da parte di HR (voti 1-5)
• Geografia
I Venti
•Potenziale di leadership
•Motivazione
•Condivisione di valori chiave
Aprile 2012
Aprile 2012
Apr-Mag2012
Apr-Mag2012
Giu-Ago 2012
Giu-Ago 2012
Settembre2012
Settembre2012
Elementi chiave del programma per i 20 Future Leaders
• Formazione tipo Executive MBA organizzata per i 20 Future Leaders di Ansaldo STS da rinomata scuola di management internazionale (italiana o americana)
• 6-10 settimane di formazione suddivise in 4 sessioni nell’arco dei 2 anni- Organizzate o presso la sede della scuola o nelle nostre sedi
Executive MBA
• Ogni Future Leader lavorera’ su uno o piu’ progetti prioritari per il gruppo che gli permettano di comprendere meglio l’azienda sviluppando al tempo stesso nuove competenze
- Progetti operativi: come Project Managers o Project Engineers di importanti progetti di Signaling o di Transportation Solutions
- Iniziative strategiche: come Initiative Leaders di progetti una tantum che possono spaziare dall’efficienza, al ridisegno organizzativo/di processi, all’innovazione, o all’entrata su nuovi mercati/segmenti
Attivita’ lavorative
• Ogni Future Leader avra’ almeno 3 persone senior di riferimento- Il capo organizzativo (definito in base all’attivita’ lavorativa prevalente),
un Executive Mentor, e il CEO- Tutte queste persone di riferimento giocheranno un ruolo chiave nel fornire feedback e
nell’effettuare frequenti valutazioni della performance (almeno ogni 6 mesi)• In aggiunta ci saranno opportunita’ di interagire con tutti i Global Leaders del gruppo
Supervisione e coaching
• Incentivi durante i due anni del programma e aumenti di retribuzione a fine programma- Incentivi e aumenti soggetti al completamento con successo del programma da cui i
partecipanti possono anche essere esclusi prima del completamento
Retribuzione/ incentivi
STS