Fincantieri: 1.9 billion investment plan to 2030

Four pillars: a strong boost in production capacity, increased productivity, strengthening of strategic projects, and adjacent growth. Exploiting the thrust coming from the two main businesses, defence - supported by the decisive increase in the budget starting from Europe (read Safe plan) - and the cruiser industry, which is experiencing renewed growth, as explained by CEO Pierroberto Folgiero. This is the route outlined by Fincantieri in the new industrial plan 2026-2030 that the group's top management presented today to the financial community and that envisages 1.9 billion in investments, of which 250 million linked to the possible doubling of offshore production in Vietnam, the centre of gravity of the subsidiary Vard.

In the plan, whose guidelines were anticipated last December and which has garnered the market's appreciation (on the stock exchange the share is currently up 6%), the group estimates more than 50 billion orders expected between now and the end of the plan, with the decisive contribution of defence, as mentioned, from which, already in the next 6 months, orders of around 5 billion euros are expected (including exports and orders from the Italian Navy). Net profit in 2026 is expected to be higher than the expected profit in 2025, at EUR 220 million in 2028 and EUR 500 million in 2030. Revenues are expected to increase to euro 9.2-9.3 billion in 2026, around euro 11 billion in 2028 and around euro 12.5 billion in 2030, with an average annual growth rate of 8%.

Revenues in 2026 reflect the impact of the redefinition of the Constellation programme in the US, the effects of which will be offset by new orders expected in the year and which will be reflected in revenues from 2028 onwards. It is also estimated that ebitda will grow to about €700 million in 2026, €930 million in 2028 and €1,250 million in 2030, with an ebitda margin of 7.5%, 8.5% and 10%, respectively, up 2.5 percentage points over the plan period, supported not only by an improvement in margins in all business segments, but also by a business mix with higher margins, and with revenues from the defence and underwater segments reaching one third of the total in 2030. As for 2025, the figures for which were released together with the presentation of the plan, Fincantieri improves its guidance for the year, for which it estimates a net profit of €110 million and a gross margin on revenues at 7.4%. With the revenue target confirmed at EUR 9 billion.

"With the 2026-2030 industrial plan Fincantieri takes a further decisive step forward in its growth trajectory, confirming the solidity of the strategic vision of the last three years, combined with an increase in production capacity to match the macro-trends of demand," explained CEO Pierroberto Folgiero, "demonstrating the ability to generate very sustainable value over time. In addition to the record total workload of around EUR 60 billion already acquired, which provides high visibility over time'.

In the plan, which also outlines significant progress on other elements considered crucial by the group, starting with digitalisation and acceleration on the green footprint of ships (with the first zero-emission unit expected in 2035), without neglecting the implementation of nuclear power - also declined through the axis with newcleo - Fincantieri also estimates to reduce its debt to zero in 2032 (expected to be around 1.8 billion in 2025 and decreasing to 1.25 billion in 2030) and to bring the net financial position to credit within the same timeframe. With the possibility of a return to the dividend - the last one was in 2019, five years after listing - in 2028 subject to the results of the 2027 financial year.