Financials​ 

45,000+

hours of security engineering consultancy services ​ 

100+

new prototypes and products developed​ 

50+

projects on the development of innovative alloys and special steels 

25 

smart manufacturing projects​ 

The contribution margin for the Industry Business Unit saw a significant improvement, highlighting the success of our strategies in overcoming the previous year's obstacles. Robust revenue growth showcased our ability to capture and capitalize on major opportunities, particularly in Italy. In 2023, we made significant advancements in our cyber security business, enhancing its value and importance within our portfolio. 

The geopolitical landscape, notably the Ukraine conflict, posed challenges to our operations, particularly in the defense sector. However, our ability to adapt and realign our strategic focus has been crucial in mitigating these impacts and maintaining our resilience. 

Securing talented personnel to meet project demands remains a persistent challenge, especially in a competitive global marketplace. In 2023, we implemented several strategic initiatives to enhance our talent acquisition and retention practices. By investing in our workforce and refining our resource management strategies, we are poised to attract and nurture the skilled professionals essential for delivering projects and maintaining our industry leadership.

Despite navigating a complex global landscape, our team demonstrated remarkable resilience and adaptability, contributing to our positive performance.

Sustainability

The PNRR in Italy (Piano Nazionale di Ripresa e Resilienza or National Recovery and Resilience Plan, which is part of the broader Next Generation EU) was a cornerstone of our national strategy, enhancing our service offerings and enabling significant business growth. Our sustainability initiatives gained momentum, with projects such as carbon footprint reduction and other environmental sustainability practices clear areas of focus, in line with heightened European regulations. 

The Hydra Project, an €88 million IPCEI project funded by the European Commission’s NextGenerationEU plan and backed by the Italian Ministry of Enterprises and Made in Italy through RINA, was a highlight of 2023. This project positions RINA at the forefront of green steel production using hydrogen technology, aligning with global decarbonization goals. Our commitment to innovation was further illustrated by our ventures into advanced cybersecurity solutions, significantly enhancing our service offerings in this critical area. 

We successfully integrated business lines within the UK, transitioning them to focus more on energy sectors, reflecting a strategic pivot to align more closely with market needs and customer demands. Our approach to comprehensive end-to-end sustainability services has been a key driver of our success, helping clients navigate the complexities of environmental compliance and benefiting from EU sustainability grants.

80,000+

hours on Test Management and Execution 

1M+

hours of engineering  

25

active labs

Innovation

RINA remains at the forefront of innovation, particularly in the application of advanced technologies initially developed in aerospace and other high-tech industries. In 2023, we successfully adapted these technologies to enhance performance monitoring systems in the competitive motorsport sector. This ability to transfer technology across industries helps address many challenges across all sectors.

Our laboratory facilities extend their utility beyond the Industry sector to serve Energy, Infrastructure, and Mobility sectors as well. This shared infrastructure supports a wide range of testing and development activities, promoting synergy and innovation across different business areas. The labs are a cornerstone of our strategy to optimize resources, reduce operational costs, and accelerate the development of new technologies and solutions, reflecting our dedication to operational excellence and sustainability.

Looking 
    ​​  Ahead 

At the end of 2023, RINA strategically structured its consulting engineering services into four focused vertical market sectors: Energy, Infrastructure & Mobility, and Industry. This organisational refinement facilitates the integration of services and expertise across these distinct sectors, enabling us to deliver comprehensive, cross-sectoral solutions. This approach not only streamlines operations but also enhances our ability to tackle complex projects by drawing on diverse capabilities within the group. 

For 2024, RINA is poised for continued growth, with a strategic emphasis on expanding our influence in the sustainability and cybersecurity markets. Regulatory developments in AI (EU AI ACT), sustainability (CSRD, CSDD) and cybersecurity such as NIS2 will offer new business opportunities to support our customers. 

The integration of innovative practices across our business units remains a priority, ensuring that we stay ahead in a rapidly evolving industry landscape. 

Despite some ongoing challenges, 2023 was a year of significant achievement and transformation for RINA's Industry Business Unit. The strategies implemented have not only addressed immediate needs but have also laid a strong foundation for future growth and sustainability. As we move into 2024, our focus will remain on driving innovation, enhancing operational efficiencies, and expanding our market reach to deliver increased value to our clients and stakeholders.

PROJECTS

Transforming Army Culture: A Strategic Approach to Diversity and Inclusion Training
Innovative Training Analysis for the British Army

From July to December 2023, RINA led the "Army Diversity and Inclusion (D&I) Training: Unacceptable Behaviour Training Options Analysis" for the British Army. This project was a response to the challenge of unacceptable behaviour in the Army, aiming to reform D&I training. RINA developed a comprehensive D&I Competency Framework, featuring over 280 behavioural indicators, and conducted a Training Options Analysis (TOA). This analysis was grounded in academic research and existing training evaluations, focusing on behavioural and attitudinal change using the Defence Systems Approach to Training (DSAT). 

The strategy involved integrating D&I training into leadership programs, supported by organizational culture. While not a standalone solution, D&I training is essential for fostering cultural change and enhancing operational effectiveness. This project highlighted RINA's innovative approach in training consultancy and competency analysis, marking a significant advancement for the British Army in tackling D&I challenges.
Advanced Target Acquisition for the British Armed Forces
Elbit Systems UK's D-JFI SolutionIN

The Dismounted Joint Fires Integrator (D-JFI) project, running from 2021 to 2026, is a significant advancement for the British Armed Forces, spearheaded by Elbit Systems UK Ltd (ESUK). This project introduces a cutting-edge, AI-powered networked target acquisition system, designed to integrate with the communication systems of the British Army, RAF, and Royal Marines. Incorporating advanced technologies like TORCH-XTM, HattorixTM, AION-CTM, and RattlerTM XR, D-JFI enhances the precision and efficiency of joint fires.

RINA's involvement was critical in providing Integrated Product Support, Safety and Environmental expertise, and Training, contributing significantly to the early equipment delivery milestone in Q3/2023. This project not only replaces the outdated Firestorm system but also ensures interoperability with allies, bolstering the operational capabilities of UK Defence. RINA's role in this project underscores its proficiency in managing complex defence projects and its capability in risk management and client advocacy.
Technological Evolution of Banca d'Italia's SIEM Service
Starting in 2023, Banca d'Italia has been working on upgrading its SIEM infrastructure. This project aims to create a more robust and reliable system that is resilient to failures by eliminating single points of failure. The system will help ensure fill business continuity while providing optimising processing and response times using Machine Learning algorithms. Over a 5-year period, RINA is supplying hardware and software components and supporting tools to enable the renewal of the SOME infrastructure. It is also providing services to support the production start-up and operation phases. The RINA Cyber team's use of Splunk technology is a crucial part of this upgrade, signalling a big step forward in the bank's digital security capabilities.
Advanced Technologies for Cyber Insurance Quantification
Rapid cyber policies with accurate assessments

Launched in 2023, RINA is developing a new platform to assess cyber risks quickly and accurately for insurance purposes. This is an innovative move in the insurance field, utilizing Mastercard's advanced technology to streamline the process of creating and managing cyber insurance policies.
Third-Party Risk Management (TPRM) Platform for Terna
Cyber resilience to manage supply chain risks

Started in 2023, this project for Terna focuses on creating a platform to assess and monitor the risks associated with current and potential global suppliers. The platform is designed to provide thorough risk analyses and real-time monitoring using Mastercard technology and aims to enhance the company's ability to manage and respond to risks from third parties. It will provide in-depth analysis of suppliers including measure of risk exposure, benchmarking across suppliers, and continuous monitoring of supplier risk.
Large Transport Company - Taxonomy Alignment
Identifying gaps and improving taxonomy alignment

Running from November 2022 to July 2023 across Italy and Europe, this project is helping a transport group and its 60 subsidiaries align their operations with environmental standards. The main tasks involve identifying gaps in current practices, improving procedures, and ensuring subsidiaries are sustainable and compliant with environmental regulations.
Large Steel Mill - Roadmap to Sustainability
Decreasing environmental impact

From June to December 2023, this project focussed on measuring the environmental impact of 5 steel products to obtain EPD verification and assessing operations in line with ISO 14064-1 standards. This is the first time this Italian client has used a life cycle approach to understand and manage its environmental impact.
IPCEI Hydrogen Infrastructure
Between February 2021 and March 2023 in Italy, this project supported two companies in applying for IPCEI funding related to hydrogen use in decarbonization. The hydrogen technology will reduce carbon emissions. RINA supplied technical and financial planning expertise for the companies to obtain up to 75% funding for these large-scale hydrogen utilities.
HYDRA Project 
Decarbonizing “Hard to Abate” Industries 

The HYDRA Project is a forward-looking initiative aimed at driving decarbonization in industries traditionally hard to transition to environmentally friendly practices, focusing on the innovative use of hydrogen. The project's objectives include developing methodologies and laboratories to test and qualify materials in various hydrogen conditions, essential for decarbonizing sectors like steel production. It engages a wide array of stakeholders, including material manufacturers and hydrogen technology suppliers and is establishing an Advanced Training Centre to cultivate specialized skills for industry decarbonization. A crucial feature of HYDRA is setting up an experimental production line as an open platform for global steelmakers. This line will showcase a hydrogen-powered Direct Reduced Iron (DRI) plant and an electric arc furnace with a hydrogen burner, demonstrating the potential of hydrogen in achieving up to 100% decarbonization in steel manufacturing. Additionally, the project focuses on acquiring in-depth industrial knowledge regarding the metallurgical aspects of steel production with complete hydrogen integration, marking a significant step towards a sustainable industrial future.
MAGICS Project
The application of AI for Drone Swarm control

From January to September 2023, the MAGICS project provided research into how to use Manned Unmanned Teaming (MUMT) technologies in military aircraft. The goal is to incorporate AI for better control of drone swarms, aiming to improve military aviation technology and fill the gap between current and future aircraft generations. RINA supported the project with Flight Dynamics Engineering, Software Engineering, and AI expertise.
GALILEO FOC Exploitation - G1 SETA, Netherlands
Software engineering to support a multinational space project 

Spanning from January 2017 to December 2023 in the Netherlands, this project involved a range of activities including security design, cyber security, and system engineering for the GALILEO space program. This multi-year, multi-site and highly complex multinational project reflects RINA's expertise in handling large-scale, intricate projects in the space sector.
NATO Security Support for Program Management and Qualification of Aircraft
Management of NATO security requirements for audio systems in European aircraft

Starting in 2018 in an ongoing project, RINA is providing high level system engineering support to understand the requirements and reach field measures to verify aircraft audio systems to NATO regulations. RINA’s support provides a high level of competence in the EMC sector along with process support and management services.
G2 System Support Phase CDE Security and PRS Engineering
Support to Thales Six and the European Space Agency

RINA was awarded a contract in 2023 to support Thales Six and the European Space Agency with security and system engineering in the consolidation of implementation GALILEO and services for the design of its evolution: GALIELO 2nd Generation. The award of the contract, which runs until 2027, has been linked to the outstanding work previously provided by RINA and its strong relationship with ESA. 
RINA-Aprilia Technical Partnership
RINA and Aprilia Racing started a technical partnership to take the evolution of Aprilia to drive the development of cutting-edge technologies in elite-level motorcycle sport. 

RINA is providing Aprilia Racing its diverse engineering expertise in various fields where performance is the key factor for excellence, including aerospace, automotive, advanced material studies, and advanced manufacturing technologies. 

The collaboration between the two Italian technological leaders is applied to all aspects of a prototype race design. Leveraging RINA's multidisciplinary skills and technology transfer methods, Aprilia Racing will solidify its leadership and pioneering role, introducing ground-breaking solutions to the track and pushing the boundaries of motorsport and beyond.