Data, documents and Financial highlights
2025 RESULTS
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PRESS RELEASES
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PRESENTATIONS
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REPORT
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AUDIO/AUDIO WEBCAST
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CONFERENCE CALL INVITATIONS
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DATA SHEET
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| ECONOMIC DATA | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 | |
| Revenue and income | eur/mln | 8,128 | 7,651 | 7,440 | 6,911 | 5,879 | 5,849 | 5,416 | 5,020 |
| EBITDA | eur/mln | 509 | 397 | 221 | 495 | 314 | 320 | 421 | 341 |
EBITDA margin |
percentage | 6.3% | 5.2% | 3% | 7.2% | 5.3% | 5.5% | 7.8% | 6.8% |
| EBIT | eur/mln | 246 | 162 | (10) | 289 | 148 | 153 | 285 | 221 |
| EBIT margin | percentuale | 3.0% | 2.1% | -0.1% | 4.3% | 2.5% | 2.6% | 5.3% | 4.4% |
| Adjusted profit/(loss) for the year 6 | eur/mln | 57 | (7) | (108) | 92 | (42) | (71) | 114 | 91 |
| Extraordinary and non-recurring income and (expenses) | eur/mln | (39) | (61) | (238) | (90) | (258) | (67) | (51) | (49) |
| Profit/(loss) for the year | eur/mln | 27 | (53) | (324) | 22 | (245) | (148) | 69 | 53 |
| Group share of profit/(loss) for the year | eur/mln | 33 | (53) | (309) | 22 | (240) | (141) | 72 | 57 |
| FINANCIAL DATA | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018(4) |
31.12.2017 | |
| Net invested capital | eur/mln | 2,126 | 2,705 | 3,118 | 3,118 | 3,118 | 3,118 | 1,747 | 1,623 |
| Equity | eur/mln | 845 | 434 | 587 | 834 | 777 | 1,050 | 1,253 | 1,309 |
| Net financial position | eur/mln | (1,281) | (2,271) | (2,531) | (2,531) | (1,062) | (736) | (494) | (314) |
| OTHER INDICATORS | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 | |
| Order intake | eur/mln | 15,355 | 6,600 | 5,328 | 3,343 | 4,526 | 8,692 | 8,617 | 8,554 |
| Order book | eur/mln | 43,522 | 34,629 | 34,591 | 36,339 | 36,770 | 37,127 | 32,743 | 28,482 |
| Total backlog7 | eur/mln | 51,178 | 34,772 | 34,326 | 35,519 | 35,681 | 32,690 | 33,824 | 26,153 |
| Backlog | eur/mln | 30,978 | 23,072 | 23,826 | 25,819 | 27,781 | 28,590 | 25,524 | 22,053 |
| Soft backlog 9 | eur/mln | 20,200 | 11,700 | 10,500 | 9,700 | 7,900 | 4,100 | 8,300 | 4,100 |
| Capital expenditure | eur/mln | 263 | 258 | 295 | 358 | 309 | 279 | 161 | 163 |
| Net cash flow of the period | eur/mln | (68) | 201 | (672) | (50) | 901 | (296) | 402 | 65 |
| Employees at the end of the period | number | 22,588 | 21,215 | 20,792 | 20,774 | 20,150 | 19,823 | 19,274 | 19,545 |
| Vessels delivered | number | 20 | 26 | 19 | 19 | 19 | 26 | 35 | 25 |
| 01 - Shipbuilding | |||||||||
| ECONOMIC DATA | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.20202 | 31.12.2019 | 31.12.2018 | 31.12.2017 | |
| Revenue and income | eur/mln | 5,990 | 6,129 | 6,373 | 5,903 | 5,226 | 5,145 | 4,678 | 4,267 |
| EBITDA | eur/mln | 396 | 367 | 340 | 467 | 285 | 368 | 395 | 270 |
| EBITDA margin | percentage | 6.6% | 6.0% | 5.3% | 7.9% | 5.4% | 7.2% | 8.5% | 6.3% |
| 02 - Offshore & Specialized Vessels | |||||||||
| ECONOMIC DATA | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.20202 | 31.12.2019 | 31.12.2018 | 31.12.2017 | |
| Revenue and income | eur/mln | 1,371 | 1,070 | 751 | 456 | 389 | 327 | 623 | 676 |
| EBITDA | eur/mln | 67 | 52 | 22 | 10 | (5) | (99) | (13) | 41 |
| EBITDA margin | percentage | 4.9% | 4.9% | 2.9% | 2.1% | -1.3% | -30.4% | -2.1% | 6.1% |
| 03 - Equipment, Systems & Services | |||||||||
| ECONOMIC DATA | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | 31.12.20202 | 31.12.2019 | 31.12.2018 | 31.12.2017 | |
| Revenue and income | eur/mln | 1,498 | 1,100 | 916 | 1,404 | 937 | 899 | 651 | 558 |
| EBITDA | eur/mln | 103 | 24 | (96) | 61 | 76 | 90 | 73 | 64 |
| EBITDA margin | percentage | 6.9% | 2.2% | -10.5% | 4.4% | 8.1% | 10.0% | 11.2% | 11.5% |
FINANCIAL HIGHLIGHTS
ECONOMIC AND FINANCIAL RESULTS
REVENUES
AND INCOME
€4,885 million euros
+32.7% compared to the first half of 2024 (€3,681 million)
EBITDA
316 million euros
+45.3% vs 30 June 2024 and an EBITDA margin of 6.8% (vs 5.8% as of 30 June 2024).
POSITION
NET FINANCIAL
€1,648 million euros
in improvement compared to the figure at the end of 2024, equal to €1,668 million (excluding the temporary effect of the capital increase aimed at the acquisition of WASS) and significantly reduced compared to the first half of 2024 (€2,424 million).
RATIO
DEBT
2,6X
Leverage ratio (Net Financial Position / LTM2 EBITDA) stood at 2.6x as of 30 June 2025, further decreasing compared to the 3.3x ratio (net of the capital increase) recorded as of 31 December 2024.
RESULT OF
ADJUSTED PERIOD
48 million euros
in sharp improvement compared to the negative result of €10 million as of June 30, 2024.
RESULT
PERIOD
35 million euros
Net profit of €35 million (negative €27 million as of June 30, 2024) after accounting for non-operating or non-recurring income and expenses (negative €18 million).
FINANCIAL HIGHLIGHTS
OPERATING PERFORMANCE
LOAD
OVERALL WORKLOAD
€41.9 billion
equal to 7.1 times 2024 revenues
ORDERS
€14.6 billion
Orders acquired for €14.6 billion, with a book to bill ratio of 3.2x.
DELIVERIES
19 Ships
from 100 shipyards
SHIPS
IN ORDER BACKLOG
100 Ships
units scheduled for delivery through 2036
In the first year of our new Industrial Plan, we achieved key objectives, and I would like to thank everyone at FINCANTIERI whose constant commitment was decisive in the company’s growth and the achievement of these successes.
In 2023, we achieved encouraging strategic results in new LNG, methanol, and hydrogen propulsion systems; proprietary data platforms for digital twins, simulation systems, and predictive maintenance; the first applications of artificial intelligence and remote control; the automation and digitalization of shipyards, which are once again attracting Italians to heavy industry; and, finally, in the underwater sector, which represents the new frontier where we increasingly aim to lead both the industry and the country.
The path to the future is set and we are ready to navigate towards new successes, strengthening our role as industry leader and consolidating our commitment to a more sustainable and innovative future.
Full speed ahead!
Pierroberto Folgiero,
Chief Executive Officer and General Manager of Fincantieri
In 2023, we achieved encouraging strategic results in new LNG, methanol, and hydrogen propulsion systems; proprietary data platforms for digital twins, simulation systems, and predictive maintenance; the first applications of artificial intelligence and remote control; the automation and digitalization of shipyards, which are once again attracting Italians to heavy industry; and, finally, in the underwater sector, which represents the new frontier where we increasingly aim to lead both the industry and the country.
The path to the future is set and we are ready to navigate towards new successes, strengthening our role as industry leader and consolidating our commitment to a more sustainable and innovative future.
Full speed ahead!
Pierroberto Folgiero,
Chief Executive Officer and General Manager of Fincantieri
- Please note that the net financial position monitored by the Group has been modified, aligning it with the ESMA definition, resulting in the restatement of the corresponding comparative data. Consequently, the value of Net Invested Capital has been redefined.
- Comparative data have been restated to reflect the reallocation of Vard Electro and Seonics from the Shipbuilding and Offshore & Specialized Vessels segments, respectively, to the Systems, Components and Services segment.
- 2019 comparative data have been restated to reflect the reallocation of Vard Electro’s activities from the Offshore & Specialized Vessels segment to the Shipbuilding segment.
- 2018 comparative data have been restated to reflect the discontinued operations of the small shipbuilding business for the fishery and aquaculture sectors and the disposal of the Aukra shipyard.
- 2017 comparative data have been restated following the redefinition of the Shipbuilding and Offshore operating segments.
- Net result before gains (income) and charges (expenses) unrelated to ordinary activities and non-recurring items.
- Sum of backlog and soft backlog.
- Comparative data have been restated to reflect the reallocation of the Service business and the Interiors Hub (renamed “Ship Interiors”) from the Systems, Components and Services segment (renamed “Systems, Components and Infrastructures”) to the Shipbuilding segment.
- Soft backlog corresponds to the value of contractual options and letters of intent in force, as well as contracts under advanced negotiation, not yet reflected in the order backlog. Starting in 2024, Naval Italy programs included in the Multi-Year Defense Program Document are represented; Fincantieri refers to this document in its financial reporting to ensure transparency in communications on the potential impacts on future order and revenue levels.
FINCANTIERI S.p.A. uses the eMarket SDIR circuit, managed by Spafid Connect S.p.A., with its registered office at Foro Buonaparte 10, Milan, for the transmission of Regulated Information.
For the maintenance (filing and storage) of published Regulated Information, FINCANTIERI S.p.A. uses the centralized storage mechanism called eMarket STORAGE, accessible at www.emarketstorage.com, managed by Teleborsa S.r.l., with its registered office at Piazza di Priscilla 4, Rome (*).
(*) Until 8 May 2015, FINCANTIERI S.p.A. used the centralized storage mechanism called “1Info,” available at www.computershare.it, managed by Computershare S.p.A., with its registered office at Via Lorenzo Mascheroni 19, Milan.