Fincantieri S.p.A. announces that the board of directors has approved the interim financial information at March 31, 2023.
Among the first quarter’s highlights:
- Q1 results in line with FY 2023 guidance
- Revenues at euro 1,764 million, up by 4.9% 1Q/1Q
- EBITDA margin at 4.9%, improved compared with FY 2022 results (3.0%)
- Net financial position at euro 2.9 billion, in line with production activities of cruise projects
- 89 ships in portfolio with backlog at 22.7 billion
- Order intake at euro 0.9 billion vs euro 0.5 billion in Q1 2022, with a positive contribution from Wind Offshore
- Enhancement of Group suppliers’ ESG profile thanks to reverse factoring
Pierroberto Folgiero, Fincantieri Chief Executive Officer, commented: “The first three months of 2023 are perfectly in line with our expectations for 2023, with revenues up by 4.9% compared with the same period in 2022. The Cruise business area recorded a significant increase in production volumes led by our sizeable backlog, while the Naval business area continues the development of ongoing programs.
Offshore and Specialized Vessels performed particularly well, with revenues at euro 238 million, growing by 31%, thanks to the full swing production of vessels for the offshore wind industry. The operating performance expected for 2023 will allow us to consolidate revenues and margins, which together with a solid backlog and improving EBITDA compared to FY 2022, confirm our positioning as a solid company in our core business, also thanks to our strategic attention to new technologies”.
Viewers can find here below in full the Q1 2023 Results:
