testata inforMARE

18 August 2022 The on-line newspaper devoted to the world of transports 18:01 GMT+2

July 27, 2022

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Original news
In the first half of the year, Fincantieri recorded growth in revenues and a decline in new orders

The period was archived with a net loss of -234 million euros

In the first half of 2022 the revenues of the navalmeccanico group Fincantieri amounted to 3.52 billion euros, with a increase of +8% on the first half of last year that rises to +16% excluding passing activities (contracts for which the company invoices the full amount of the contract to the customer final but does not directly manage the construction order). In the only the shipbuilding sector revenues were at €2.82 billion (-2%, +6% excluding assets passers-by), of which 1.90 billion in the cruise ship segment (+3%) and 911 million in that of military ships (+16%). In the Offshore and special ships sector revenues totalled 376 million euros (+78%) and in that of Systems, components and services 729 million euros (+30%). The group recorded an EBITDA of 90 million euros (-59%), with a contribution of 168 million from the segment Shipbuilding (-16%), of 9 million from the Offshore and special ships (+200%) and with a negative contribution of -66 million from Systems, components and services segment with respect to a contribution of positive sign for 39 million in the first half of 2021. Fincantieri has archived the first half of this year with a operating loss of -234 million euro compared to a profit of 7 million in the same period of 2021.

In the first six months of 2022 the value of new orders acquired from the company was 1.52 billion euros, with a decrease of -13% on the corresponding period last year, of which 691 million in the Shipbuilding segment (-36%), 445 million in Offshore and special ships (+167%) and 704 million in the segment Systems, components and services (+5%). At 30 June the value of the group's order book amounted to €35.72 billion, down by -7% on 30 June 2021.

Commenting on the results achieved by the company in the first part of 2022 the CEO of Fincantieri, Pierroberto Folgiero, focused on the trend of the second quarter, a period in which if revenues have increased by about +15% on the same quarter of 2021, new orders have instead accused a decrease of -29%: "the trend economic of the second quarter - explained Folgiero - is state negatively characterized by a strategic review on the non-core business portfolio, from the effects on the prices of raw materials resulting from the Russian-Ukrainian War, and from others non-recurring matches. The company - said Folgiero - in the the coming months will pursue an ever greater concentration on the core business of Shipbuilding, directing the expected growth in the military sector and the restart of the cruise sector; such route will also be characterized by a large focus on new digital and green solutions that increase in time the "distinctiveness" of great leadership of Fincantieri in the international shipbuilding industry. Likewise, the group will pursue with increasing attention to industrial projects aimed at the operational excellence of own construction sites in Italy and abroad as well as devoting maximum care the development of its significant human capital".

ADSP Tirreno Centrale
PSA Genova Pra

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