Fincantieri reported its strongest-ever quarterly performance in the first quarter of 2025, with EBITDA increasing by 54% to EUR 154 million and revenues reaching EUR 2,376 million, a 35% rise compared to Q1 2024. This growth is largely attributed to significant improvement in the Shipbuilding segment, driven by the defense sector.
The company achieved a record order intake of EUR 11.7 billion, accounting for approximately 76% of the total order value for 2024. Fincantieri's total backlog, including anticipated orders, has reached EUR 57.6 billion, representing coverage of about 7.1 times the 2024 revenues.
In a strategic move, Fincantieri announced the launch of a new Underwater segment, which generated EUR 95 million in revenue with a high EBITDA margin of 17%. The segment focuses on sophisticated underwater technologies and defense solutions, enhancing the company's position in the market.
Fincantieri strengthened its presence in Asia and the Middle East by finalizing significant agreements, including an Industrial Cooperation Agreement with thyssenkrupp Marine Systems and the MAESTRAL joint venture with EDGE in Abu Dhabi, ensuring support for naval forces in these regions.
The company has plans to expand its cruise and offshore backlog, highlighted by partnerships with Norwegian Cruise Line and Viking Cruises for the development of new energy-efficient ships, solidifying Fincantieri's leadership in this sector.
With a focus on sustainable innovation, Fincantieri has announced the construction of the first hydrogen-powered cruise ship, "Viking Libra," scheduled for delivery in 2026, emphasizing its commitment to reducing the maritime sector's carbon footprint.
Fincantieri continues to accelerate its digital transformation efforts, launching the Fincantieri Ingenium joint venture with Accenture to develop a digital ecosystem for modernizing fleets, aiming to improve operational efficiency and technology integration across its segments.
As of March 31, 2025, Fincantieri's net debt improved to EUR 1,608 million, showcasing better financial health compared to the end-of-year figures. The company reaffirms a positive outlook with continued growth driven by major agreements and strategic advancements across its core sectors.