In 2025 the Italian shipbuilding company Fincantieri has recorded financial performance record starting from the revenues that, with 9,19 billion euros, have marked an increase of +13.1% on the previous year. In particular, the revenues in the segment Shipbuilding are piled to 6,59 billion (+15.1%), of which 4,40 billion for the construction of ships from cruise (+12.5%), 2,12 billion for the construction of military ships (+20.7%) and 72 million for the design and realization of interiors for third parties (+16.1%). In the Offshore segment and special ships the revenues were pairs to 1,36 billion (- 1.8%), in that Systems, components and infrastructures to 1.32 billion (- 1.9%) and in the Underwater segment to 667 million euros (+88.2%). EBITDA amounted to 681 million (+33.9%), with a contribution of 72 million from the Shipbuilding division (+1.8%), 72 million from the Offshore and special ships (+1.8%), 109 million from that Systems, components and infrastructure (+33.0%) and 117 million from the Underwater division (+81.7%). The EBIT amounted to 368 million (+49.6%) and the operating result reached the record share of 117 million euros (+333.3%).

Last year also the value of the new orders acquired from the group has reached a record value pairs to 20,33 billion (+32.4%), of which 17,77 billion for the construction of ships (+42.0%), 1,29 billion in the Offshore segment and special ships (-17.2%), 1,34 billion in that Systems, components and infrastructure (+4.6%) and 581 million in the segment Underwater (-26.0%).

In the fourth quarter of 2025 the revenues of the group amounted to 2,47 billion, with a decrease of -3,0% on the same period of 2024 when the quarterly historical record had been marked. In decrease also the value of the new orders that in the period October-December last year has been pairs to 4,31 billion (-37.1%), of which 3,21 billion in the segment Shipbuilding (-48.1%), 327 million in that Offshore and special ships (- 21.2%) and 591 million in the segment Systems, components and infrastructure (+17.5%).

Regarding the forecasts of the trend of the operating and commercial activity in the main markets in which Fincantieri operates, the company has observed that "in 2025 the crocieristico market has recorded a significant increase, with approximately 37,7 million passengers and employment rates greater than 100%, supported by the increase of demand, reservations and onboard revenues. The field of the ships from cruise - it has found the group - continues to record an important expansion, with an increase of the orders that interests all types of product. In 2025, globally, orders for 23 ships were finalized, as well as contracts and options for 16 additional units, strengthening the orderbook and long-term productive visibility up to 2036. The present complex geopolitical context - it has found moreover Fincantieri - generates an incremental question of asset for defense, with a global budget allocated from the governments that is expected to reach beyond 2,9 trillion of dollars in 2030, in increment of 18.6% regarding 2025 (about 2,5 trillion of dollars), and with an expense per naval unit previewed to grow in line with such trend. In this context the Group has identified commercial opportunities in the period 2026-2030 for more than 56 billion euros of which approximately 23 billion euros with medium-high probability of success. The application will be supported by NATO's expenditure increase targets of up to 5% of GDP by 2035 and the European SAFE (Security Action for Europe) programme, which provides up to € 150 billion of funding for joint investments in the Defense, which can help further support demand in the short-half period. In the course of the exercise - it has remembered the company - the group has strengthened its competitive positioning in the defense market through industrial agreements and strategic collaborations, including joint venture with Edge in the United Arab Emirates, Maestral, and naval programs in Southeast Asia. In Indonesia, in particular, Fincantieri has completed the supply of two units PPA - Multipurpose Combat Ship, destined to represent the most important combat units of the Indonesian Navy. On the national market are evidenced the construction of two PPA units for the Italian Navy, the TLSM 2 support contract for the FREMM units and the start of the AGS program for two naval units, with a total value of approximately 1,6 billion euros and duration of 21 years. It is also expected in the next months the contractualization of some orders for the Italian Navy (including the DDX and the ships of the program J3MS Clara), besides the finalization of important contracts with some foreign marines, both for the supply of ships and for the supply of services".

Regarding the segment of the Underwater, Fincantieri has evidenced that "the strategy of strengthening the presence of the group in the fields of the protection of underwater infrastructure and of the unmanned dual-use solutions to high technological content, with the strategic agreement concluded with Defcomm Defense Communications S.r.l., Italian startup specialized in the unmanned solutions for the marine field, and the launch of the first system of underwater drones "DE.EP The subsidiary WASS Submarine Systems has acquired an order greater than 200 million euros from the Indian Navy for the supply of heavy torpedoes Black Shark Advanced and, in February 2026, acquired an additional order from the Ministry of Defense of the Kingdom of Saudi Arabia for the supply of light torpedoes MU90 for a value greater than 200 million euros. The group will also provide a supply Vessel for underwater operations to the Italian Navy".

Finally, in relation to the offshore sector, "a solid development of the commercial pipeline, with orders finalized in 2025 for five SOV/CSOV units, an OSCV (Offshore Subsea Construction Vessel) and a research unit. The group has also signed a contract with Ocean Infinity for four Multi-Purpose Robotic Vessels, for a value greater than 200 million euros, and maintains a significant presence in the subsea and cablelayer segment, characterized by a solid demand and increasing interest for multifunctional units".

For 2026 the group previews, net of impacts to today not foreseeable linked to the possible evolutions of the conflict in the Middle East, revenues pairs to euros 9,2-9,3 billion, an EBITDA in increase to approximately € 700 million, an EBITDA margin pairs to approximately 7.5% and a net profit greater than the data recorded at the end of 2025.