Fincantieri establishes an underwater division comprising eight companies, with revenue of 1.1 billion and EBITDA of 200 million

Fincantieri aims to establish itself as an “international leader” in the diving sector and has announced the acquisition of Next Geosolutions, WSense, Graal Tech and Defcomm). With this move, the group led by Pierroberto Folgiero – having recently completed transactions in the submarine business with Remazel, Wass and Ids – is thus establishing an underwater division comprising eight companies, with a presence in Italia, the United Kingdom, the Netherlands, Norway and the United Arab Emirates, 1,500 professionals and pro forma 2026 revenues of 1.1 billion euros, capable of integrating all enabling technologies and covering the entire value chain.

“Today’s transaction,” commented CEO Folgiero, “represents a historic industrial transformation for Fincantieri, creating an international leader in the underwater sector, thanks to the full integration of technologies, expertise and operational capabilities across the value chain. These acquisitions also enable us to accelerate the implementation of our business plan, significantly strengthening profitability and capitalising on a rapidly expanding market, where the dual-use component is set to become increasingly important. “We have also chosen to preserve the industrial continuity of the acquired companies by retaining the existing management teams, as we believe that expertise and execution are essential to the Group’s growth.”

The transactions were announced on Monday morning by the shipbuilding group, which is further strengthening its position in the underwater sector, where it recorded revenues of €667 million last year, accounting for 6.7 per cent of the group’s total revenues. The underwater market is forecast to grow significantly: according to current estimates, it is expected to reach a cumulative value of €155 billion between 2026 and 2030.

In short, the potential for further growth within the group is there. It is no coincidence that, following the announcement, Fincantieri’s share price soared on the Milan Stock Exchange. The share price jumped by 8 per cent to 11.8 euros. The market has therefore shown its appreciation for the strategy implemented by senior management, which is set to give the segment a significant boost. According to projections released by Fincantieri itself, the sector is set to grow ‘at a significant rate’, with pro-forma revenues – partly thanks to acquisitions – exceeding €1.1 billion, and EBITDA of €220 million, thereby achieving the underwater growth targets set for 2030 in the 2026–2030 business plan presented in February, four years ahead of schedule.”

‘The acquisitions will also contribute over an additional 60 million euros to the group’s pro forma profit for 2026’ and “are highly accretive for the group, with earnings per share set to rise by 30 per cent by 2028 and by 20 per cent by 2030”. Looking ahead to the coming years, the diving division’s revenue will reach 1.4 billion by 2028, rising to 1.8 billion euros by 2030; the pro-forma EBITDA margin, taking into account the acquisitions, will rise to 19.2 per cent in 2026, reaching 21 per cent in 2028 and 23 per cent in 2030. By 2030, the contribution of acquisitions to the group’s net profit will reach approximately 130 million euros. The acquisitions will enable the group to accelerate its growth trajectory – Fincantieri emphasises – with revenue generated from high-tech services, and prospects for an increase in EBITDA and net profit of 13 per cent and 40 per cent respectively compared with the 2026 targets set out in the 2030 plan.