Fincantieri is pleased to share its interim financial results for the first quarter of 2025, showcasing impressive growth across all business segments and achieving its best ever quarter in terms of new orders.
Below are the key highlights from the report:
- Revenues totalled €2,376 million, up 35% compared to Q1 2024 (€1,767 million).
- EBITDA: €154 million, a 54% increase from Q1 2024 (€100 million), driven by strong performances in all segments, especially Shipbuilding (+53%).
- EBITDA margin: 6.5%, up from 5.7% in Q1 2024, driven by higher revenues in the defence sector, operational efficiency improvements in the cruise ship business and the contribution of WASS Submarine Systems.
- Launch of Underwater segment: The newly launched Underwater operating segment generated €95 million in revenue and achieved an EBITDA margin of 17%. This marks a critical step in strengthening the company’s forefront position in the defence and critical subsea infrastructure sectors.
- New orders reached €11.7 billion in Q1 2025, representing an extraordinary 76% of the total new orders secured in 2024.
- Backlog reached €40.3 billion, up 30% from the end of 2024, with the total backlog (including soft backlog) reaching a record €57.6 billion.
- 4 ships delivered in Q1 2025 and 102 units in the portfolio with deliveries expected until 2036.
Commenting on the results, Pierroberto Folgiero, Chief Executive Officer and General Manager of Fincantieri, said: “The creation of the new Underwater segment represents a fundamental step in the Group’s industrial evolution. We have entered a strategic domain of very high technological complexity, where the ability to integrate advanced systems and develop dual-use solutions will be decisive for European competitiveness and national security. This positioning further strengthens our role as a technology enabler in the defense and critical submarine infrastructure domain. The first quarter of 2025 marks the best result in our history, with EBITDA growth of 54% and an unprecedented order backlog. These are the results of a long-term strategic vision based on rigorous financial discipline, solid industrial governance, and a strong ability to turn innovation into concrete solutions. The increase in revenues in the Defense segment and the consolidation of our three dimensions – cruise, defence and offshore – confirm the effectiveness of our integrated business model.”
Mr. Folgiero concluded: “We will continue to pursue our goals for 2025 with determination and beyond, actively contributing to the reindustrialization of the country and the strengthening of the European manufacturing system. Fincantieri is today a future-proof laboratory of heavy industry, a champion of Made in Italy ingenuity, committed to generating employment, competitiveness, and sustainable innovation along the entire value chain.”
Fincantieri is well-positioned to meet its 2025 goals and beyond, and the Company continues to pursue innovation and industrial growth across its three core business segments: cruise, defence and offshore.
Please find attached the full press release for a detailed overview of the results and key achievements over the period. For any additional information or questions, please don’t hesitate to reach out.
