Fincantieri (FCT) investor relations material

Executive summary

• Net profit nearly tripled year-over-year to €102 million in H1 2026, with adjusted net profit at €113 million, reflecting strong profitability and margin expansion.

• EBITDA grew 12.5% to €350 million, margin improved to 7.6%, driven by operational efficiency and higher profitability in Cruise and Underwater segments.

• Revenue reached €4.58 billion, stable year-over-year, with acceleration in Q2 2026 and robust commercial momentum.

• Strategic acquisitions in the Underwater segment created a fully integrated international leader, enhancing end-to-end solutions and financial accretion.

• Order intake reached €6.1 billion in H1 2026, with backlog up 17% to €73.9 billion, providing visibility through 2039.

Financial highlights

• Revenue: €4,580 million in H1 2026 (+0.1% YoY).

• EBITDA: €350 million (+12.5% YoY), margin at 7.6% (vs 6.8% in H1 2025).

• Net profit: €102 million, almost triple vs. €35 million in H1 2025; adjusted net profit: €113 million (vs. €48 million).

• Order intake: €6.1 billion, book-to-bill 1.3x.

• Total backlog: €73.9 billion (+17% vs FY 2025), covering 8 years of work visibility.

Outlook and guidance

• 2026 guidance confirmed: revenue €9.3–9.4 billion, EBITDA €700–710 million (~7.5% margin), net profit €140–180 million.

• Net debt/EBITDA ratio expected at 2.0x by year-end, or 1.3x including the February 2026 capital increase.

• Strong commercial pipeline with major defense and cruise orders expected to be formalized in coming months.

• Guidance excludes impact of Underwater acquisitions announced in July 2026.

• No material impact expected from geopolitical tensions in 2026 due to hedging.