Fincantieri continues to gain ground on Piazza Affari after the announcement of thepurchase by the Portugal receives three FREMM Evo frigates built by the Italian group. In Tuesday's session, the stock rose by more than 2%, continuing the rise already recorded on Monday, when it closed up 2,03% after the first details of the operation emerged. Inlast month Fincantieri shares have thus achieved a 14,42% markup.
Supporting purchases is the prospect of a commission from total value of approximately 3 billion euros.
Portugal chooses three FREMM Evo frigates
The purchase was announced at the end of themeeting at Palazzo Chigi between the Prime Minister Giorgia Meloni and Portuguese Prime Minister Luís Montenegro"I am very pleased with the Portuguese authorities' decision to purchase three Evo frigates, built by Fincantieri," Meloni said. According to the Prime Minister, Lisbon's decision also demonstrates that Europe can strengthen its strategic autonomy by investing in the industrial and technological capabilities of the continent's companies.
Montenegro has quantified theinvestment of approximately 3 billion euros, linking the programme to the need to strengthen the Portuguese and European capacity to monitor maritime resources, protect strategic interests and ensure the safety of international navigation.
La final figure and the composition of the contract will still have to be specifyThe package could include, in addition to ship construction, combat systems, weapons, sensors, crew training, maintenance, and logistical support.
A strategic order for Fincantieri and Leonardo
The frigates will be built inscope of Orizzonte Sistemi Navali, a joint venture 51% owned by Fincantieri and 49% owned by Leonardo. The company is already building two FREMM Evo vessels for the Italian Navy. According to Intermonte, the potential value of the transaction is estimated at approximately €3 billion gross for Orizzonte Sistemi Navali, with Fincantieri's share of approximately €1,5 billion. Leonardo is expected to receive a similar amount through its stake in the joint venture.
Analysts point out, however, that no official communication has arrived yet by the shipbuilding group. The agreement could be formalized in the coming weeks. "The news is positive because it would confirm the progressive conversion of the defense pipeline, a key element of the equity story," Intermonte notes. The market is indeed looking to Fincantieri's ability to transform the numerous international opportunities in the military sector into actual orders and new revenues.
The order amount will not be immediately and fully translated into revenue, because large naval programs are accounted for over several years. However, the order would guarantee greater visibility to production and continuity of a supply chain that includes hulls, propulsion, radar, communications, missiles, electronic warfare and anti-submarine systems.
Lisbon renews a fleet with over thirty years of service
The three Fremm Evo should progressively replace the Vasco da Gama class frigates, which entered service with the Portuguese Navy in the early 1990s and are now nearing the end of their operational life. The Portuguese fleet currently has five major frigates. Three are of the Vasco da Gama class, while the other two are Bartolomeu Dias-class vessels purchased second-hand from the Netherlands and subsequently modernized.
The new platforms will ensure a technological leapor in anti-submarine warfare, anti-aircraft defense, electronic warfare, maritime surveillance, and integrated battlefield management capabilities. They could also be used to protect trade routes, underwater infrastructure, and vast areas of the Atlantic, including those around the Azores and Madeira.
The FREMM Evo version introduces more advanced radars, new combat systems, and enhanced capabilities against missiles and drones. The platform is also designed to operate unmanned aerial, naval, and underwater vehicles.
From Defense to the Blue Economy
The agreement could also become the starting point for broader industrial collaboration between Italy and Portugal. Meloni described the contract as an opportunity to strengthen "cooperation between our maritime supply chains," extending it to civil shipbuilding, the Blue Economy, and other strategic sectors connected to the sea.
For Fincantieri the operation would therefore have a double value: consolidate the international presence of the Fremm family and the group's positioning in the European market for large military vessels and establish a long-term relationship with Portugal, through maintenance, technological upgrades, and assistance throughout the vessels' entire operational cycle.
While waiting for the final contracts to be signed and for details on the delivery schedule to be announced, the Milan Stock Exchange is currently vying for the prospect of a new billion-dollar order.
