(Telestock) – Fincantieria publicly-controlled Italian giant active in the shipbuilding sector, has closed its first half of 2024 with revenues equal to 3,681 million euros, +0.3% compared to 3,669 million euros in 1H 2023. TheEBITDA is growing by 16% to €214 million (€185 million in 1H 2023), with an acceleration in the Systems, Components and Infrastructures segments (€40 million, approximately 6 times the result of 1H 2023) and Offshore (+37% on an annual basis). TheEBITDA margin is at 5.8%, up from 5.0% in 1H 2023.
The financial charges and income have a negative value of 92 million euros (negative for 74 million at 30 June 2023). adjusted period result it is negative for 10 million euros (positive for 3 million in the first half of 2023).
There net financial position in debt for €2,424 million, a clear improvement compared to 1H 2023 (€2,813 million) and a slight increase compared to the end of 2023 (€2,271 million).
New orders acquired amounted to 7.6 billion euros, more than triple the orders of 1H 2023 (2.1 billion) and higher than the figure for the whole of 2023 (6.6 billion). book to bill is equal to 2.1x and the commercial pipeline is rapidly accelerating, driven by the cruise ship and defense sectors. backlog amounts to 27.4 billion euros, up 19% compared to the end of 2023, with an overall backlog, at record levels, equal to 41.1 billion euros, approximately 5.4 times the revenues of 2023. Fincantieri reports 7 ships delivered from 5 yards and 96 ships in the portfolio with deliveries scheduled up to 2032
“The half-year figures confirm and improve the economic and financial results that we had ambitiously set ourselves in 2022 in our Industrial Plan – comments theAD Pierroberto Folgiero – The actions taken, the focus of a strong management team and the sense of belonging to Fincantieri of our people have in fact driven the improvement of margins and cash generation”.
“These final results, combined with a record commercial performance in all businesses they make us think positively about the continuation of the Industrial Plan – he added – The path of technological expansion in the underwater dimension and in the energy and digital transition continues with satisfaction”.
Fincantieri confirms revenue and EBITDA margin targets for 2024 and improves guidance on Debt Ratio: revenues of around €8 billion, up around 4.5%; EBITDA margin around 6%; debt ratio (PFN/EBITDA) expected to be between 4.5x and 5.5x (excluding the effects of the capital increase – value between 3.7x and 4.7x including the temporary effect of the capital increase), improving compared to the previous 2024 guidance of between 5.5x and 6.5x.