ANALYST & INVESTOR DAY
Strategy
The industrial plan
2023–2027
ILLUSTRATION OF THE INDUSTRIAL PLAN
2023–2027
The 2023–2027 strategic plan, presented to investors in May 2023, aims to consolidate our leadership position in high value-added shipbuilding, laying the foundations to project Fincantieri into the next industrial cycle driven by the digital and green ship, while maintaining cost control and financial and operational discipline.
The plan foresees a further acceleration toward achieving these goals through shipyard modernization, the development of the infrastructure business, and improved operational process efficiency.
OUR DISTINCTIVE FACTORS
LEADER IN COMPLEX NAVAL ENGINEERING
We are the only Western company operating across all segments of high-complexity naval engineering:
- Cruise
- Defense
- Special vessels
- Underwater
GLOBAL PRODUCTION CAPACITY
We proactively respond to geopolitical dynamics, combining a long-term strategic vision with the ability to localize production across our 18 shipyards distributed over 3 continents.
This approach allows us to ensure operational continuity, supply chain resilience, compliance with local regulations, and faster delivery times, while maintaining high standards of quality and safety.
PARTNER THROUGHOUT THE ENTIRE SHIP LIFECYCLE
We are increasingly present throughout the entire lifecycle of ships, developing a service offering that also leverages onboard digital technologies and artificial intelligence. This positions us as a partner in the day-to-day management of vessels.
Not only ship design and construction: thanks to our ability to manage ultra-complex projects, we are now active in the production of systems and components, electronics and cybersecurity, infrastructure, and after-sales services.
DUAL-USE AND UNDERWATER SOLUTIONS
We stand out for our ability to develop dual-use solutions (commercial and defense), which is crucial in the Underwater domain—a strategic area of extremely high technological complexity.
THE 5 PILLARS AND STRATEGIC PROJECTS
In the 2023–2027 Industrial Plan, we have charted a clear course: evolving from a glorious past to a glorious future, extending the life of mechanical engineering expertise with the technological skills required by current market trends.
To support our growth, we have identified 5 strategic pillars, to which we added, in 2025, expansion into the Underwater domain.
FOCUS ON CORE BUSINESS
UNDERWATER
FINANCIAL DISCIPLINE
INDUSTRIAL SUSTAINABILITY
LYFE CYCLE MANAGEMENT
SYSTEM INTEGRATION
CORE
BUSINESS
MODERNIZATION OF THE PRODUCTION PROCESS
Portfolio review, efficiency maximization, and modernization of the production process.
The challenging reference scenario requires prioritization choices in the allocation of production resources. We therefore believe it is necessary to focus our efforts on the core naval business (cruise, defense, and offshore), with the addition, starting from the first quarter of 2025, of the Underwater segment.
To strengthen the focus on the core business, we have identified five strategic initiatives:
Operations excellence
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Operations excellence, aimed at increasing the efficiency of manufacturing and engineering processes, while digitalizing and automating support functions and low value-added activities.
Competitiveness of the specialized vessels business
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Increase the competitiveness of the specialized vessels business, supported by the growth of the offshore wind sector.
Derisking & partnering dell’area di business Infrastrutture
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Derisking & partnering of the Infrastructure business area, to secure and enhance the segment.
Strengthening the furniture business
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Strengthening the furniture business by enhancing performance to support the captive business, leveraging refitting as an adjacent business area, and exploring potential development in the civil furniture sector.
Contract management
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Management of contracts, initiating a joint growth path with supply chain companies to support their development, increase resource availability, reduce turnover, and improve skills.
+6%
The cruise passenger rate will grow annually until 2030.
+50 deliveries
in support of the renewal and expansion of the Italian Navy fleet since 1990
20€ bn
Opportunities in accessible foreign markets for the defense sector
269.4 gw
The total offshore wind capacity is expected to increase to 59.2 GW by 2030.
UNDER
WATER
EXPANSION INTO THE UNDERWATER DOMAIN
We have also identified an additional strategic pillar: expansion into the underwater domain, where we aim to play a leading role and act as an aggregator of the industrial supply chain, leveraging:
- our know-how and distinctive capabilities;
- a network of agreements and alliances with key industry players such as C.A.B.I. Cattaneo, WSense, Saipem, and Sparkle;
- an M&A strategy that, between February 2024 and January 2025, led to the acquisition of two industry leaders: Remazel Engineering and WASS.
The underwater domain is becoming increasingly central from a geopolitical perspective for military purposes, for the necessary protection of critical underwater infrastructures essential for energy and communications, as well as for securing marine mineral seabeds.
DISCOVER MORE
DISCIPLINE
FINANCIAL
OPTIMIZATION OF PROCUREMENT PROCESSES AND CASH FLOW MANAGEMENT
The changed competitive landscape, which entails growing customer demands and pressure on supply chains, requires an evolution of the support model for the core business.
We have developed a strategy in two areas: Procurement and cost optimization.
Procurement
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Introduction of new digital and organizational tools, with the aim of:
- adopting a cross-functional and cross-divisional approach;
- extending and systematizing Group best practices;
- ensuring greater flexibility by reducing technical and commercial constraints and requirements.
Cost optimization
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- Identification of Category cost owners with specific and cross-functional responsibilities at Group level and tools for expense control
- Standardization of planning, approval, and expense monitoring processes.
SUSTAINABILITY
INDUSTRIAL
DELIVERY OF THE FIRST NET ZERO CRUISE SHIP BY 2050 AND ACHIEVEMENT OF A LEADING ROLE IN DECARBONIZATION AND ESG
We have identified key areas for improvement to maintain ESG leadership.
The strategic guidelines related to the pillar of industrial sustainability are also concretely implemented in our 2023–2027 Sustainability Plan, approved by the Board of Directors on February 16, 2023.
In a market context aiming to achieve Net Zero cruise by 2050, we are working—within the limits of available technology, regulations, and infrastructure—to bring this target forward, setting an internal goal for 2035.
This challenge involves all stakeholders: suppliers, customers, flag authorities, port authorities, and other parties involved.
ACHIEVEMENT OF NET ZERO EMISSIONS BY 2050
TRANSITION TO OPERATIONS CHARACTERIZED BY LOWER CO2 EMISSIONS
INVESTMENT IN RESEARCH AND INNOVATION.
We work to ensure:
- the development and protection of human resources;
- the promotion of equity, inclusion, and respect for human rights;
- the improvement of workers’ health and safety conditions;
- the promotion of growth;
- the training and development of human capital;
- dialogue with and support for local communities.
We are committed to responsible and ethical business conduct, the promotion of transparency, and the pursuit of excellence throughout the entire value chain.
LIFE CYCLE
MANAGEMENT
DEVELOPMENT OF DIGITAL APPLICATIONS AND DATA PLATFORMS
To enable the transition from Capex supply to leadership in service provision.
We are collecting and leveraging data generated by systems and integrating applications capable of creating value for the customer, further strengthening our role as the physical and digital Design Authority of the ship system.
THE DIGITAL SERVICES MARKET FOR SHIPOWNERS REPRESENTS AN OPPORTUNITY FOR
ANTICIPATE POTENTIAL EVOLVING TRENDS IN SHIPOWNERS’ BUSINESS MODELS
STRENGTHEN CONTROL OVER INNOVATION AND REQUIREMENTS ON SHIPS
ENTER A HIGH-PROFITABILITY SEGMENT
ADDRESS DIFFERENT REQUESTS AND NEEDS OF POTENTIAL NEW SHIPOWNERS
SYSTEM
INTEGRATION
SYSTEM INTEGRATORS
Rationalization of Group expertise to position ourselves as a Prime Contractor, a complex systems integrator in the defense business.
Greater commercial effectiveness with foreign navies is essential to compete successfully in the future defense landscape. We believe it is necessary to further develop our Design Authority capabilities and combat system integration to transform operational requirements into technical requirements for the ship project (Whole Warship), a model already adopted by leading European shipbuilders.
To achieve this goal, we will strengthen the operations and expertise of the Group company Orizzonte Sistemi Navali.
FINANCIAL TARGETS FOR 2027
~ 9.8 bn
REVENUES (€)
~ 8.0 %
EBIPTA MARGIN
2.5–3.5 x
NFP/EBITDA
A FAVORABLE MARKET CONTEXT
We can rely on a favorable market context across all the sectors in which we operate.
CRUISE MARKET
A SUBSTANTIAL RECOVERY OF THE CRUISE MARKET COMPARED TO PRE-PANDEMIC HIGHS
The growth in orders is also driven by the introduction of new environmental regulations, which accelerate the fleet renewal process.
DEFENSE SECTOR
The continuous evolution of investments in the defense sector. The current international geopolitical context is expected to open new scenarios, characterized by an increase in resources allocated to programs aimed at strengthening fleets for defense and deterrence purposes.
OFFSHORE WIND SECTOR
The expected growth of the offshore wind sector, supported by government initiatives for the green transition and achieving climate neutrality by 2050, is driving demand for new specialized naval vessels.
UNDERWATER
The strategic role of the underwater sector, which is receiving increasing attention due to the geopolitical situation and the need to coordinate a complex set of activities, operators, and technologies.