Investing in Fincantieri
230 YEARS OF HISTORY
+7,000 SHIPS BUILT
+7,000 SHIPS BUILT
Fincantieri is one of the world's largest shipbuilding groups, the only player active in all high complexity marine industry sectors. The Group is a leader in the construction of cruise ships, naval and offshore vessels, and stands out for its extensive experience in the development of underwater solutions, thanks to its integrated industrial structure capable of managing and coordinating all activities related to the commercial, defense, and dual-use sectors. It holds a strong presence in key markets also thanks to the internalization of high value-added, distinctive technologies; it is also a leader in sustainable innovation and in the digital transformation of the shipbuilding sector.
The company is active in the field of mechatronics, electronics, and digital naval systems, as well as in cybersecurity, artificial intelligence, and marine interiors solutions. It also offers a wide range of after-sales services, including logistic support and fleet assistance.
F4 | FAST. FORWARD. FURTHER. FUTURE.
With the 2026-2030 Business Plan, Fincantieri fully captures the opportunities offered by the growth macro trend in all its businesses, adapting the Group’s strength and production flexibility globally to meet the expected demand in the coming years. The Plan is divided into divisional, transversal and inorganic initiatives based on 4 strategic pillars: (i) increase in production capacity ("capacity boost"); (ii) productivity increase; (iii) strengthening of ongoing strategic projects; (iv) growth in adjacencies.
Through these initiatives, the Group aims to strengthen its global footprint, enhance production efficiency and further develop its portfolio of highly technological solutions, supported by targeted investments and a reconfiguration of its system of shipyards to increase its capacity and enhance profitability.
| SHIPBUILDING | OFFSHORE & SPECIALIZED VESSELS | UNDERWATER | |
| CRUISE | DEFENSE | ||
| LEADER IN MARKET SHARE (>47%) | MAIN SUPPLIER TO THE ITALIAN NAVY | PRIME PLAYER IN OFFSHORE ENERGY | CONSOLIDATED COMPETENCES IN CONVENTIONAL UW TECHNOLOGIES (SUBMARINES, EFFECTORS, SONAR) |
| DIVERSIFIED CLIENT BASE AND COMPLETE SEGMENT COVERAGE | PARTNER OF THE US NAVY | >40% MARKET SHARE FOR ORDER BOOK FOR CSOV AND SOV | EXTENSIVE CROSS-DOMAIN EXPERTISE, FROM THE SURFACE TO THE SEABED, FROM HARDWARE TO SOFTWARE |
| PARTNER OF CHOICHE OF LEADING NAVIES WORLDWIDE | STRONG COMPETITIVE POSITIONING IN HIGLY-SPECIALIZED COMPLEX VESSELS INCLUDING CABLE LAYERS AND ICEBREAKERS | EXPANSION ON THE COMMERCIAL OFFER IN UNCONVENTIONAL TECHNOLOGIES | |
OUR DISTINCTIVE FEATURES
+24,000 employees (53% in Italy)
18 shipyard in 3 continents
18 shipyard in 3 continents
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A UNIQUE EQUITY STORY
WE ARE A GLOBAL LEADER IN HIGH-TECH SHIPBUILDING
We are characterized by strong vertical integration – from design to production to services – which allows us to manage the entire product life cycle, leveraging innovation and digitalization. Our unique business model, featuring full-line presence across all sectors of high-complexity shipbuilding, also enables continuous cross-fertilization among our business segments and the ability to develop dual-use solutions (commercial and defense).
We leverage long-term growth prospects across all our business segments
Total backlog reached a record €74.2 billion as at 31 March 2026, equal to 8.1x 2025 revenues (€63.2 billion as at 31 December 2025); backlog at €42.7 billion, up by 3.9% compared to FY 2025.
TOTAL BACKLOG AS AT 31/03/2026
€74.2 bn
8.1 times 2025 revenues
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NET DEBT
Net debt adjusted improves significantly to €771 million, compared to €1,311 million as at FY 2025; leverage ratio (net debt adjusted / EBITDA LTM) decreases to 1.1x, compared to 1.9x as at 31 December 2025, supported by cash generation over the period and by the €500 million capital increase completed in February 2026.
Excluding the benefit from the capital increase, net debt adjusted improves to €1,249 million, with a leverage ratio of 1.8x (compared with FY 2026 guidance of 2.0x).
LEVERAGE RATIO (NET DEBT ADJUSTED/EBITDA) AS AT 31/03/2026
1,1x
1.8x excluding the capital increase completed in February 2026
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We have demonstrated our ability to grow, improve margins, and reduce debt
Thanks to a diversified business mix, characterized by steadily increasing profitability, and leveraging an approach grounded in financial discipline, operational excellence and innovation.
Our revenues have grown steadily in recent years, increasing from €7.7 billion in 2023 to €9.2 billion in 2025, with EBITDA margin rising from 5.2% in 2023 to 7.4% in 2025. In 2025, we exceeded all our financial targets, laying solid foundations for the Group’s growth trajectory as outlined in the 2026–2030 Business Plan.
FY2025 RESULTS
REVENUE
€9.2 bn
+13% VERSUS 2024
EBITDA
€681 mln
+34% VERSUS 2024
EBITDA MARGIN
7.4 %
6.3% in 2024
NET PROFIT
€117 mln
4 TIMES HIGHER THAN 2024
NET DEBT ADJ/EBITDA
1.1x
(1.8x excluding the effect of the capital increase completed in February 2026)
2026 GUIDANCE
REVENUE
€9.3 - 9.4
bn
EBITDA
€700 - 710
mln
EBITDA margin
~7.5%
Net profit
€140 - 180
mln
NET DEBT ADJ/EBITDA
~2.0x
(~1.3x including the effect of the capital increase completed in February 2026)
OUR MANAGEMENT TEAM
Leveraging its solid experience and proven track record, our management team has demonstrated strong execution capabilities, achieving and exceeding the targets set out in the 2023–2027 Business Plan.
The Group’s growth momentum continues with the new phase of development outlined in the 2026–2030 Business Plan.
The Group’s growth momentum continues with the new phase of development outlined in the 2026–2030 Business Plan.