Fincantieri takes to the stock market on the wings of the new orders announced today, 10 June. In the middle of the day the stock gains 4,86% at €0,83 per share after reaching an intraday high of €0,846.
The shipbuilding company, signed with the Ministry of Defense of Indonesia a contract for the supply of 6 FREMM-class frigates, the modernization and sale of 2 Maestrale-class frigates, and related logistic support.
“This order represents a success for Fincantieri and for the country, which has equipped itself with a fleet of 10 FREMM multipurpose vessels. The agreement also assumes extreme importance with a view to strengthening collaboration between the two countries in a strategic area of the Pacific”, comments Fincantieri in a note, specifying that its role will be that of prime contractor for the entire programme.
“The construction of the frigates – adds the company led by Giuseppe Bono – will ensure considerable employment repercussions for various Italian plants of the group in the coming years, but also for other companies in the sector, in particular Leonardo who will supply the combat system, and numerous small and medium-sized national companies, and will see the collaboration of the local PT-PAL shipyard (island of Java)".
The CEO Bono commented: "The acquisition of an order of this magnitude allows Fincantieri to also assume global leadership in the surface vessel sector, and is confirmation of the technological supremacy of a project once again considered the most innovative on the market which, between orders and options, led to 20 ships for different foreign Navies. This program has extraordinary strategic importance, both for the economic return for our country and for the Italian defense supply chain, and because it ensures Fincantieri a strong position in the area, effectively paving the way for the finalization of further important negotiations for other programs under discussion also in the civil sector”.
We also recall that yesterday Somec acquired new orders from Fincantieri for a value of approximately 100 million, 'also considering the options fixed at a counter value of approximately 40 million. The orders concern the turnkey construction of glazed envelopes and public areas on nine new generation cruise ships under construction approximately between 2022 and 2028 in the Marghera, Monfalcone and Ancona shipyards. Somec underlined that at this point the orders acquired since the beginning of the year rise to over 158 million, while the total order backlog of the group as at 31 December 2020 was equal to 767 million euros.
