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SHIPYARDS
In the first half of 2023, the value of new orders acquired by Fincantieri grew by 40% percent
Folgiero ; the three pillars of our business all present encouraging perspectives
Trieste
July 27, 2023
In the first six months of this year, the revenues of Italian navalmechanical group Fincantieri amounted to 3.67 billion, with growth of 4.5% percent in the first half of 2022 and a contribution of 2.97 billion from the shipbuilding segment. (-2.1%)-including 1.97 billion related to the cruise ship sector (+ 0.9%%) and 972 million from that of military vessels (-7.4%)-, of 482 million from the segment relating to Offshore and special ships (+ 28.2%) and EUR 539 million from the Systems, components and services segment (+ 45.7%). The gross operating margin was 185 million (+ 105.6%) and operating profit of 72 million compared to a negative sign result for -21 million in the first half of last year. Fincantieri closed the first half of 2023 with a net loss of -22 million euros compared with a net loss of -234 million in the same period in 2022. The two operating results discounted foreign charges of ordinary and non-recurring management of 33 million and 156 million euros, respectively.
In the first six months, the group acquired new orders totalling 2.13 billion euros, up 40.0% percent from sales increases for the Shipbuilding sector (1.11 billion, + 32.5%) and for the Offshore sector and special vessels (817 millions, + 83.6%), while new orders for the Systems, components and services sector have experienced a slight decrease (382 million, -0.8%). As of June 30, the value of the group's order book was 34.20 billion euros (-4.3%), of which 28.63 billion for the Shipbuilding division (-6.6%) and 2.48 billion for that Offshore and special ships (+ 27.3%).
"The first half of 2023," Fincantieri Chief Executive Officer Pierroberto Folgiero said in a statement, confirming the recovery of the main performance indicators. Thanks to the progression of production volumes, revenues rose 4.5% percent compared to the same period in 2022 and acquired orders reached 2.1 billion, up from the same period of the year. previous, with both data supported by Offshore, in line with the group's relaunch strategy in the construction of specialized ships for the offshore wind sector. EBITDA and EBITDA margin have substantially doubled, consolidating the positive already recorded results of the first quarter and the acceleration expectations outlined by the new business plan. "
"With the cruise sector, which has fully recovered the path of long-term growth, the potential new opportunities in both Italy and abroad and the megatrend of offshore renewable energy," he said. of our business all present encouraging prospects and we can confirm for 2023 the maintenance forecasts of the full productive regime that will enable the consolidation of revenues and marginality, that will stand at a value around 5% by confirming expectations. "
As for future prospects, Fincantieri noted that "in the context of Cruise, the occupancy rates of ships (which reached 100%) and the level of bookings, above pre-pandemic values, confirm the signs." positive already recorded in late 2022, highlighting how the crocery sector has overcome the effect of the pandemic, resuming the long-run growth path. Such dynamics are pushing interest in new construction, increasingly technological and green solutions, "while for the defense sector," the geopolitical reflections of the Russian-Ukrainian conflict support increased investment, " on the maritime front, creating numerous potential new opportunities for Fincantieri. " "The current environment and the increasingly high focus on the creation of wind renewable energy is pushing the robust investment plan of the sector, supporting the expansion of the fleet of mediums," the company said. for support and maintenance operations ".
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