Data, documents and Financial highlights

2025 RESULTS
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MAIN DATA
LAST UPDATE
07/10/25 14:02
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ECONOMIC DATA 31.12.2024 31.12.2023 31.12.2022 31.12.2021 31.12.2020 31.12.2019 31.12.2018 31.12.2017
Revenue and income eur/mln 8,128 7,651 7,440 6,911 5,879 5,849 5,416 5,020
EBITDA eur/mln 509 397 221 495 314 320 421 341
EBITDA margin
 percentage 6.3% 5.2% 3% 7.2% 5.3% 5.5% 7.8% 6.8%
EBIT eur/mln 246 162 (10) 289 148 153 285 221
EBIT margin percentuale 3.0% 2.1% -0.1% 4.3% 2.5% 2.6% 5.3% 4.4%
Adjusted profit/(loss) for the year 6 eur/mln 57 (7) (108) 92 (42) (71) 114 91
Extraordinary and non-recurring income and (expenses) eur/mln (39) (61) (238) (90) (258) (67) (51) (49)
Profit/(loss) for the year eur/mln 27 (53) (324) 22 (245) (148) 69 53
Group share of profit/(loss) for the year eur/mln 33 (53) (309) 22 (240) (141) 72 57
FINANCIAL DATA 31.12.2024 31.12.2023 31.12.2022 31.12.2021 31.12.2020 31.12.2019
31.12.2018(4)
 31.12.2017
Net invested capital eur/mln 2,126 2,705 3,118 3,118 3,118 3,118 1,747 1,623
Equity eur/mln 845 434 587 834 777 1,050 1,253 1,309
Net financial position eur/mln (1,281) (2,271) (2,531) (2,531)  (1,062)  (736)  (494)  (314)
OTHER INDICATORS 31.12.2024 31.12.2023 31.12.2022 31.12.2021 31.12.2020 31.12.2019 31.12.2018 31.12.2017
Order intake eur/mln 15,355 6,600 5,328 3,343 4,526 8,692 8,617 8,554
Order book eur/mln 43,522 34,629 34,591 36,339 36,770 37,127 32,743 28,482
Total backlog7 eur/mln 51,178 34,772 34,326 35,519 35,681 32,690 33,824 26,153
Backlog eur/mln 30,978 23,072 23,826 25,819 27,781 28,590 25,524 22,053
Soft backlog 9 eur/mln 20,200 11,700 10,500 9,700 7,900 4,100 8,300 4,100
Capital expenditure eur/mln 263 258 295 358 309 279 161 163
Net cash flow of the period eur/mln (68) 201 (672) (50) 901 (296) 402 65
Employees at the end of the period number 22,588 21,215 20,792 20,774 20,150 19,823 19,274 19,545
Vessels delivered number 20 26 19 19 19 26 35 25
01 - Shipbuilding
ECONOMIC DATA 31.12.2024 31.12.2023 31.12.2022 31.12.2021 31.12.20202 31.12.2019 31.12.2018 31.12.2017
Revenue and income eur/mln 5,990 6,129 6,373 5,903 5,226 5,145 4,678 4,267
EBITDA eur/mln 396 367 340 467 285 368 395 270
EBITDA margin percentage 6.6% 6.0% 5.3% 7.9% 5.4% 7.2% 8.5% 6.3%
02 - Offshore & Specialized Vessels
ECONOMIC DATA 31.12.2024 31.12.2023 31.12.2022 31.12.2021 31.12.20202 31.12.2019 31.12.2018 31.12.2017
Revenue and income eur/mln 1,371 1,070 751 456 389 327 623 676
EBITDA eur/mln 67 52 22 10 (5) (99) (13) 41
EBITDA margin percentage 4.9% 4.9% 2.9% 2.1% -1.3% -30.4% -2.1% 6.1%
03 - Equipment, Systems & Services
ECONOMIC DATA 31.12.2024 31.12.2023 31.12.2022 31.12.2021 31.12.20202 31.12.2019 31.12.2018 31.12.2017
Revenue and income eur/mln 1,498 1,100 916 1,404 937 899 651 558
EBITDA eur/mln 103 24 (96) 61 76 90 73 64
EBITDA margin percentage 6.9% 2.2% -10.5% 4.4% 8.1% 10.0% 11.2% 11.5%
FINANCIAL HIGHLIGHTS
ECONOMIC AND FINANCIAL RESULTS
REVENUES
AND INCOME
€4,885 million euros  +32.7% compared to the first half of 2024 (€3,681 million)
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Monochromatic bar chart with four categories, bars labeled 3,385 M, 843 M, 681 M, 274 M, with textual annotations and numerical details for data contextualization.
EBITDA
316 million euros +45.3% vs 30 June 2024 and an EBITDA margin of 6.8% (vs 5.8% as of 30 June 2024).
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Monochromatic horizontal bar chart with four distinct data points, bars labeled 218 M (largest), 32 M, 47 M, 46 M, white text on a black background for maximum clarity.
POSITION
NET FINANCIAL
€1,648 million euros in improvement compared to the figure at the end of 2024, equal to €1,668 million (excluding the temporary effect of the capital increase aimed at the acquisition of WASS) and significantly reduced compared to the first half of 2024 (€2,424 million).
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: "Improving Debt per Euro" graph showing debt performance over time, points labeled November 1st, 2024 (4,484 Million), December 2nd, 2024 (4,000 Million), January 1st, 2025 (1,844 Million), white grid and diagonal lines to highlight data progression.
RATIO
DEBT
2,6X Leverage ratio (Net Financial Position / LTM2 EBITDA) stood at 2.6x as of 30 June 2025, further decreasing compared to the 3.3x ratio (net of the capital increase) recorded as of 31 December 2024.
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Graph showing the trend of the net financial debt/LTM EBITDA ratio, decreasing from 9.9X as of October 31, 2022, to 2.7X as of June 30, 2023, with axes and numerical values labeled for clarity.
RESULT OF
ADJUSTED PERIOD
48 million euros in sharp improvement compared to the negative result of €10 million as of June 30, 2024.
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Financial chart showing the performance of adjusted results, upward trend, labeled axes and numerical values, “48 MILLION EURO” highlighted in the text.
RESULT
PERIOD
35 million euros Net profit of €35 million (negative €27 million as of June 30, 2024) after accounting for non-operating or non-recurring income and expenses (negative €18 million).
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: "Result for the Period" financial graph showing a growth trend from 27 million euros to 36 million euros, black background, white and grey text, highlighted numerical values.
FINANCIAL HIGHLIGHTS
OPERATING PERFORMANCE
LOAD
OVERALL WORKLOAD
€41.9 billion equal to 7.1 times 2024 revenues
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Monochromatic bar chart with five columns of different heights, numerical values “35.1”, “1.8”, “2.7”, “3.0”, “44.9” on each bar, additional text “15.8 average per week” on the right, minimalist design focused on data representation.
ORDERS
€14.6 billion Orders acquired for €14.6 billion, with a book to bill ratio of 3.2x.
Fincantieri | FInvestor Relations - Data, Documents and Financial Highlights: Monochromatic bar chart on the distribution of investments by sector: shipbuilding (14.0 billion euros), offshore and special vessels, underwater, systems/components/infrastructure; Italian labels, clean and minimalist design, highlighted numerical values.
DELIVERIES
19 Ships from 100 shipyards
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Three stylized ship icons enclosed in circles on a black background, numerical labels “3 ounces”, “1 ounce” and “9 ounces”, minimalist and modern design with emphasis on simplicity and clarity.
SHIPS
IN ORDER BACKLOG
100 Ships units scheduled for delivery through 2036
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Stylized drawing of a large cruise ship in light blue wireframe on a blue background, schematic and essential representation.
Fincantieri | Investor Relations - Data, Documents and Financial Highlights: Manager Pierroberto Folgiero in a dark blue suit, white shirt, and patterned tie, standing with arms crossed, silver watch on his wrist, minimal and professional white background.
In the first year of our new Industrial Plan, we achieved key objectives, and I would like to thank everyone at FINCANTIERI whose constant commitment was decisive in the company’s growth and the achievement of these successes.

In 2023, we achieved encouraging strategic results in new LNG, methanol, and hydrogen propulsion systems; proprietary data platforms for digital twins, simulation systems, and predictive maintenance; the first applications of artificial intelligence and remote control; the automation and digitalization of shipyards, which are once again attracting Italians to heavy industry; and, finally, in the underwater sector, which represents the new frontier where we increasingly aim to lead both the industry and the country.

The path to the future is set and we are ready to navigate towards new successes, strengthening our role as industry leader and consolidating our commitment to a more sustainable and innovative future.

Full speed ahead!

Pierroberto Folgiero,
Chief Executive Officer and General Manager of Fincantieri
  1. Please note that the net financial position monitored by the Group has been modified, aligning it with the ESMA definition, resulting in the restatement of the corresponding comparative data. Consequently, the value of Net Invested Capital has been redefined.
  2. Comparative data have been restated to reflect the reallocation of Vard Electro and Seonics from the Shipbuilding and Offshore & Specialized Vessels segments, respectively, to the Systems, Components and Services segment.
  3. 2019 comparative data have been restated to reflect the reallocation of Vard Electro’s activities from the Offshore & Specialized Vessels segment to the Shipbuilding segment.
  4. 2018 comparative data have been restated to reflect the discontinued operations of the small shipbuilding business for the fishery and aquaculture sectors and the disposal of the Aukra shipyard.
  5. 2017 comparative data have been restated following the redefinition of the Shipbuilding and Offshore operating segments.
  6. Net result before gains (income) and charges (expenses) unrelated to ordinary activities and non-recurring items.
  7. Sum of backlog and soft backlog.
  8. Comparative data have been restated to reflect the reallocation of the Service business and the Interiors Hub (renamed “Ship Interiors”) from the Systems, Components and Services segment (renamed “Systems, Components and Infrastructures”) to the Shipbuilding segment.
  9. Soft backlog corresponds to the value of contractual options and letters of intent in force, as well as contracts under advanced negotiation, not yet reflected in the order backlog. Starting in 2024, Naval Italy programs included in the Multi-Year Defense Program Document are represented; Fincantieri refers to this document in its financial reporting to ensure transparency in communications on the potential impacts on future order and revenue levels.
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