Financial Data

Economic data		31.12.2023	31.12.2022	31.12.2021	31.12.2020	31.12.2019	31.12.2018⁴	31.12.2017
Revenue and income	euro/million	7,651	7,440	6,911	5,879	5,849	5,416	5,020
EBITDA	euro/million	397	221	495	314	320	421	341
EBITDA margin	percentage	5.2%	3.0%	7.2%	5.3%	5.5%	7.8%	6.8%
EBIT	euro/million	162	(10)	289	148	153	285	221
EBIT margin	percentage	2.1%	-0.1%	4.3%	2.5%	2.6%	5.3%	4.4%
Adjusted profit/(loss) for the year ⁶	euro/million	(7)	(108)	92	(42)	(71)	114	91
Extraordinary and non-recurring income and (expenses)	euro/million	(61)	(238)	(90)	(258)	(67)	(51)	(49)
Profit/(loss) for the year	euro/million	(53)	(324)	22	(245)	(148)	69	53
Group share of profit/(loss) for the year	euro/million	(53)	(309)	22	(240)	(141)	72	57

Financial data		31.12.2023	31.12.2022	31.12.2021¹	31.12.2020	31.12.2019	31.12.2018	31.12.2017
Net invested capital	euro/million	2,705	3,118	3,118	3,118	3,118	1,747	1,623
Equity	euro/million	434	587	834	777	1,050	1,253	1,309
Net financial position	euro/million	(2,271)	(2,531)	(2,531)	(1,062)	(736)	(494)	(314)

Other indicators		31.12.2023	31.12.2022	31.12.2021	31.12.2020	31.12.2019	31.12.2018	31.12.2017
Order intake	euro/million	6,600	5,328	3,343	4,526	8,692	8,617	8,554
Order book	euro/million	34,629	34,591	36,339	36,770	37,127	32,743	28,482
Total backlog⁷	euro/million	34,772	34,326	35,519	35,681	32,690	33,824	26,153
Backlog	euro/million	23,072	23,826	25,819	27,781	28,590	25,524	22,053
Soft backlog	euro/million	11,700	10,500	9,700	7,900	4,100	8,300	4,100
Capital expenditure	euro/million	258	295	358	309	279	161	163
Net cash flow of the period	euro/million	201	(672)	(50)	901	(296)	402	65
Employees at the end of the period	number	21,215	20,792	20,774	20,150	19,823	19,274	19,545
Vessels delivered	number	26	19	19	19	26	35	25

CONSOLIDATED RESULTS BY SEGMENT

Shipbuilding

Economic data		31.12.2023	31.12.2022⁸	31.12.2021	31.12.2020²	31.12.2019³	31.12.2018⁴	31.12.2017⁵
Revenue and income	euro/million	6,129	6,373	5,903	5,226	5,145	4,678	4,267
EBITDA	euro/million	367	340	467	285	368	395	270
EBITDA margin	percentage	6.0%	5.3%	7.9%	5.4%	7.2%	8.5%	6.3%

Offshore & Specialized Vessels

Economic data		31.12.2023	31.12.2022	31.12.2021	31.12.2020²	31.12.2019³	31.12.2018⁴	31.12.2017⁵
Revenue and income	euro/million	1,070	751	456	389	327	623	676
EBITDA	euro/million	52	22	10	(5)	(99)	(13)	41
EBITDA margin	percentage	4.9%	2.9%	2.1%	-1.3%	-30.4%	-2.1%	6.1%

Equipment, Systems & Services

Economic data		31.12.2023	31.12.2022⁸	31.12.2021	31.12.2020²	31.12.2019³	31.12.2018⁴	31.12.2017⁵
Revenue and income	euro/million	1,100	916	1,404	937	899	651	558
EBITDA	euro/million	24	(96)	61	76	90	73	64
EBITDA margin	percentage	2.2%	-10.5%	4.4%	8.1%	10.0%	11.2%	11.5%

_{(1) Net financial position reported by the Group aligned to the ESMA recommendations. As a consequence, Net invested capital has been restated
(2) The figures have been restated following the reallocation of Vard Electro and Seaonics respectively from the Shipbuilding and the Offshore & Specialized Vessels segments to the Equipment, Systems & Services segment
(3) 2019 figures have been restated to reflect the reallocation of Vard Electro’s activities from the Offshore and Specialized Vessels to the Shipbuilding segment
(4) 2018 comparative figures have been restated to reflect the discontinued operations of the small vessel construction business for the fishery and aquaculture sectors and the divestment of the Aukra shipyard
(5) 2017 comparative figures have been restated following the redefinition of Shipbuilding and Offshore operating segments
(6) Adjusted net result before extraordinary and non-recurring items
(7) Sum of backlog and soft backlog
(8) The figures have been restated to reflect the reallocation of the Services and Accomodation Cluster business areas (renamed "Ship Interiors") from the Equipment, Systems and Services segment (renamed "Equipment, Systems and Infrastructure") to the Shipbuilding segment}

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