Fincantieri raises 2026 targets. New orders for 11 billion in 4 months above annual target

Fincantieri arrives at the quarterly accounts test by improving the guidance for the current year, confirming the validity of the strategy implemented by top management, and with figures showing a 3% growth in EBITDA, to 159 million, and 0.9% for the EBITDA margin, which rose from 6.5% a year ago to 7.4%. On the other hand, revenues fell to EUR 2.1 billion, down 10.1% on last year's figure, which, however, had been positively impacted by the effect of the Indonesian Navy's order for two patrol vessels (Ppa).

Turning to financial exposure, the bar was negative at EUR 771m at the end of March, but was a marked improvement on the EUR 1.3bn with which the group had closed 2025: hence also the positive effect on the debt ratio, which thus drops to 1.1x compared to 1.9x at the end of 2025 thanks to cash generation and the 500 million capital increase concluded last February (net of which, on the other hand, the adjusted net financial position stands at 1.25 billion and the debt ratio at 1.8x against guidance for the full year set at 2x).

In short, the 'machine' continues to march at full speed. Proof of this is, first of all, the performance of orders which, in the quarter, amounted to 3.4 billion, but, as the group explains in the note accompanying the accounts, the contracts concluded in the first four months of the year have undergone a decisive leap forward, allowing the annual target of 11 billion set by the plan to 2030 to be exceeded, bringing the workload to 74.2 billion, "the highest level ever", explains Fincantieri.

A decisive push forward that has also led the company chaired by Biagio Mazzotta to tweak upwards, as mentioned, the targets for the rest of the year: revenues were therefore estimated at EUR 9.3-9.4 billion (compared to EUR 9.2-9.3 billion in the previous guidance), an Ebitda of EUR 700-710 million (around EUR 700 million previously), an Ebitda margin of around 7.5%, and an expected net profit of between EUR 140 million and EUR 180 million' (compared to the indication provided, which envisaged a value higher than the 2025 figure). Finally, the adjusted debt ratio is estimated at 2.0 times (1.3 times including the February capital increase).

Group CEO Pierroberto Folgiero is satisfied. "The first quarter of 2026 confirms the coherence and strength of the group's growth path," explained the top manager, according to whom the results achieved allow the company to look "to the future with confidence, strengthened by an unprecedented order backlog and extended operational visibility over the long term which, in line with the 2026-2030 industrial plan, reinforces Fincantieri's role as an industrial platform of reference in the highly complex naval engineering and maritime technology sectors.