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Fincantieri (FCT) investor relations material
Fincantieri Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenues rose 24.3% year-over-year to €4.58B, with EBITDA up 45.3% to €311M and net profit at €35M, marking a strong return to profitability.
Order intake reached €14.7B, driving the backlog to a record €57.7B, with 100 ships in the order book and deliveries scheduled through 2036.
Leverage ratio improved to 2.7x, ahead of the 2027 target, reflecting effective financial discipline.
2025 guidance reaffirmed for revenues (~€9B), EBITDA margin (>7%), positive net result, and improved leverage.
All business segments contributed to growth, with notable margin expansion and operational efficiency.
Financial highlights
Shipbuilding revenues grew 26.3% YoY to €3,355M, with EBITDA up 40% and margin at 6.5%.
Offshore and Specialized Vessels revenues rose 10% YoY to €643M, EBITDA up 21% with a 4.9% margin.
Underwater segment revenues surged 83% YoY to €274M, EBITDA margin at 17%, driven by WASS consolidation.
Equipment, Systems & Infrastructure revenues up 10% YoY to €661M, EBITDA margin improved to 6.9%.
Adjusted net profit reached €48M, compared to a €10M loss in 1H 2024.
Outlook and guidance
2025 revenue guidance confirmed at approximately €9B, with EBITDA margin expected to exceed 7%.
Leverage ratio guidance improved to 2.7x–3.0x, reflecting accelerated deleveraging.
Positive net income forecast for full year 2025, supported by robust backlog and commercial momentum.
Strong commercial pipeline of €23B across all segments.
Robust order visibility in cruise and defense through 2036.
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