Fincantieri archives the first half with results in line with group forecasts and with the 2018-2022 Business Plan. THE revenues an increase of 12% on an annual basis, to 2,837 billion euros (from the 2,527 billion recorded in the same period last year). L'Ebitda rises by 17%, to 215 million, with Ebitda margin by 7,6% (from 7,3%).
Il result of the period on the other hand, it decreased to 12 million (from 15 million at 30 June 2018) net of charges relating to disputes for asbestos damages of 18 million and tax charges of 40 million. The adjusted data drops to 34 million (from 39 million).
In sharp increase thenet financial debt, which rises on an annual basis from 494 to 724 million, reflecting "the impact of IFRS 16 (euro 88 million) and a financial structure consistent with the growth in the size and value of the cruise vessels under construction and the related delivery schedule ”, explains the group.
On the front of orders, Fincantieri records the all-time high at a six-monthly level, reaching 6,6 billion. In detail, contracts were signed for 15 units, including 11 cruise ships for 5 different brands (Oceania, Regent Seven Seas, Viking, MSC, Princess) and a further unit for the US Navy as part of the Littoral Combat program Ship.
Deliver instead 15 ships (from 11 different establishments): among these, two cruise ships, three expedition cruise units and two military ships. Two units of the Italian Navy's fleet renewal program were also launched.
Giuseppe Bono, CEO of Fincantieri comments on the results achieved as follows:
“In this first half of the year we have achieved exceptional growth and a new record for the seventh consecutive semester, a level of orders never reached before. These are extraordinary results also in light of the degree of innovation of the acquired projects which reward and confirm the great work carried out in research and development, thanks to which we offer our customers solutions that are ahead of their time. We design and install cutting-edge solutions for a market that tends to demand more and more attention to the environment, a universal heritage that we must defend for ourselves and for future generations
At the end of the board meeting which approved the accounts, the CEO also recalled the Joint Venture agreement with Naval Group which began to shape the Poseidon project and paved the way for the strengthening of military naval cooperation between France and Italy. "We expect to be able to count on the support of new professionals, also developed thanks to the introduction of new ITS courses and collaboration with universities".
