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  • 2019 February 26 14:06

    Fincantieri revenues increased by 9% at euro 5.5 billion in 2018

    The Board of Directors of FINCANTIERI S.p.A., chaired by Giampiero Massolo, has approved the Consolidated financial statements at December 31, 2018, the draft financial statements of the parent company at December 31, 2018, prepared in accordance with international financial reporting and accounting standards (IAS/IFRS) and the Consolidated Non-financial Statement at December 31, 2018 pursuant to Legislative Decree No. 254/2016.

    Consolidated 2018 results
     Record-high revenues at almost euro 5.5 billion increased by 9% compared to 2017
     Growing profitability with EBITDA at euro 414 million (+21% compared to 2017), with a margin of 7.6% (6.8% in 2017)
     Adjusted net income at euro 108 million (+19% compared to 2017)
     Net income at euro 69 million (+30% compared to 2017).
     Net debt at euro 494 million
     Order intake at euro 8.6 billion: orders for 27 units, 14 of which are cruise ships for 8 different clients, reconfirming the commercial effectiveness of Fincantieri. New orders awarded by TUI Cruises demonstrate the ability of the Group to attract new clients
     Record-high total backlog with 116 units at euro 33.8 billion (+29%): backlog at euro 25.5 billion (+16%) and soft backlog at euro 8.3 billion
     Successful delivery of 35 units from 15 different shipyards
     Completion of delisting process of VARD and launch of its full integration with the Italian activities of the Group aiming at ensuring greater coordination
     Continued focus on strategic initiatives:
    - Grounds laid for the establishment of a joint venture with Naval Group, with the support of the Italian and French Governments
    - Signed a share purchase agreement for the acquisition of 50% of Chantiers de l’Atlantique (ex STX France). Upon closing of the transaction, currently subject to the approval by the Antitrust Authorities, an additional 1% of the share capital will be lent to Fincantieri
    - Improved positioning in the infrastructure business through the involvement in relevant projects, notably in Romania and in Italy for the construction of the bridge over the Polcevera river in Genoa
    - Consolidation of the existing activities in the area of electronics and IT, a strategic sector for innovation, with the objective of further strengthening the existing knowledge base in the field of cybersecurity, automation, simulation, training and technologies for unmanned conduct, by creating synergies within the Group
     Approval and publishing of the Group’s first Sustainability Plan, with the purpose of combining business growth and financial solidity with the principles of social and environmental sustainability
     Proposed Dividend payment of euro 0.01 per share
     Approval of Consolidated Non-financial Statement pursuant to Legislative Decree No. 254/2016
     Ordinary Shareholders’ Meeting convened forApril 5, 2019 on single call

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