Fincantieri S.p.A. approved its half‑year financial report as of 30 June 2025, according to the company's release.
Revenues totalled approximately €4 576 million, up 24% from €3 681 million in 1H 2024. EBITDA climbed 45% to €311 million (versus €214 million), with an EBITDA margin of 6.8% compared with 5.8% in 1H 2024 and 6.3% for FY 2024.
Net profit reached €35 million (adjusted net result €48 million), marking a reversal from a €27 million loss in 1H 2024 (adjusted result of –€10 million).
Net financial debt was €1 644 million, slightly improved from €1 668 million at end‑2024 (excluding the temporary effect of the WASS acquisition capital increase), yielding a PFN/EBITDA ratio of 2.7×.
This fulfils the leverage target originally set for 2027 ahead of schedule.
On the commercial front, new orders in 1H 2025 totalled €14 744 million, nearly double the €7 620 million recorded in 1H 2024, and representing 96% of full‑year 2024 orders.
Backlog stood at €41 852 million (+35% from end‑2024) and soft backlog at €15 800 million, resulting in a total work volume of €57 652 million—about 7.1× 2024 revenues—with 100 ships in portfolio and deliveries scheduled to 2036.
Fincantieri S.p.A. is a listed Italian società per azioni (FCT.MI), headquartered in Trieste. It is controlled by Cassa Depositi e Prestiti (approx. 71%). Fincantieri is Europe’s largest shipbuilder and a top global player, with activities covering cruise ships, naval vessels, offshore and underwater systems, and naval components.