Fincantieri group revenues fell by -17.3% in the third quarter

Group EBITDA amounted to 81 million euros (+2.5%), with a contribution of 76 million from the shipbuilding segment (-13.6%), one million from offshore and ships compared to a negative sign contribution for -15 million in the third quarter of 2019, and 13 million from the systems, components and services (-18.8%).

In the first nine months of 2020, a period that recorded - in particularly in the first half of the year - the impact of the effects of covi-19 pandemic, the Italian naval mechanical group has obtained revenues of €3.53 billion, down -16.2% january-september last year, of which 3.10 billion from the shipbuilding segment (-17.8%) - including 2.26 billion cruise ships (-15.7%) and 837 million from military vessels (-22.7%) - 271 million from the offshore and special ship segment (-1.1%) and 591 million from systems, components and services (+1.5%). EBITDA amounted to 200 million euros (-34.6%) with a contribution of 191 million from shipbuilding (-41.6%), with no contribution from the offshore segment and special ships compared to a negative contribution of -48 million in the first nine months 2019 and with a contribution of 37 million from the systems segment, components and services (-32.7%).

In the third quarter of this year, the value of new orders acquired by the group was 132 million euros, down -28.3% over the same period of 2019, of which 42 million for the shipbuilding sector (-62.8%), 22 million for offshore and special ships (-40.5%) and 158 million for the systems, components and services (+110.7%).

In the first nine months of 2020, new orders totalled total of €1.86 billion (-72.8%), of which €1.41 billion billion for shipbuilding (-78.3%), 186 million for offshore and special ships (+97.9%) and 480 million for systems, components and services (+13.2%).

"The results at 30 September - commented fincantieri's CEO, Giuseppe Bono- reflect the difficulties of one of the most for the world economy and that Fincantieri itself has never faced. The comparison with the same period of the year last year, net of the evidence of the numbers, is not significant because 2020 reflects a significant situation Exceptional. So, beyond the results, I think it's underline our ability to look to the future and to ensure that our shareholders and other stakeholders have a stability and continuity of work for the next Years. In cruises we are seeing a very gradual recovery, how understandable it is, and this corroborations our strategy that allowed us to keep orders that we will allow us to look at 2027/2028. In the military, in addition to the recent prestigious order for ships destined for the US Navy, we are in the process of negotiating concretely with foreign countries to the export of FREMM frigates. We are also reaching important results in innovative sectors and with an important development potential, in particular in infrastructure and the provision of state-of-the-art products and services.'

"At the same time," added Bono, "we have adopted a policy to safeguard the health of our workers, true wealth of the company, with a series of actions that allowed to limit infections. I must also acknowledge that all staff you're working enthusiastically to deal with the not easy situation and to ensure a prosperous future for the company."

Fincantieri has announced that, in response to the emergency health care, during the first nine months of this year the company considered it necessary to protect its resources by suspending, in advance of regulatory measures, all activities in the Group's Italian plants and gradually resuming them only as a result of the implementation of high standards of Security. In addition, the production programme as a result of the consequent remodulation of the delivery plans. These dynamics, mainly related to the shipbuilding sector - explained Fincantieri - have led to a loss of 3.1 million hours of production compared to those (-19%), of which 2.7 million relate exclusively to the first half of the year, and a corresponding failure to make progress revenues in the period amounted to 945 million euros (790 million euros) referable to the first half of the year).