On July 30, Fincantieri released its “Approval of 1H 2025 results” on its official website. During the reporting period, Fincantieri achieved a record-breaking order intake, with a total backlog of €57.7 billion (approximately US$65.9 billion) and 100 ships in order book, with deliveries scheduled until 2036.
Data shows that as of June 30, 2025, Fincantieri achieved operating revenue of approximately €4.6 billion (approximately US$5.254 billion) in the first half of this year, an increase of 24% year-on-year; it achieved a net profit of €35 million (approximately US$39.97 million), continuing the profit trend since the end of 2024, a significant improvement compared to the net loss of €27 million in the first half of 2024; Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached €311 million (approximately US$355 million), up 45% year-over-year; the EBITDA margin stood at 6.8%, higher than the 6.3% recorded at the end of 2024 and the 5.8% reported in the first half of 2024.
In the first half of this year, thanks to strong demand for the Group’s core businesses, Fincantieri’s total new orders reached €14.7 billion (approximately US$16.8 billion), equivalent to 96% of the total orders for the whole of 2024 (€15.355 billion), representing a significant year-on-year increase of 93%. The shipbuilding business segment made a particularly strong contribution (up 133% compared to the first half of 2024), with an order-to-revenue ratio of 3.2 times.
During the reporting period, Fincantieri’s order backlog reached a record high of €57.7 billion (approximately US$65.9 billion), equivalent to 7.1 times its 2024 revenue. This includes firm orders worth €41.9 billion (approximately US$347.9 billion) and options worth €15.8 billion (approximately US$18 billion). The company’s newbuilding orderbook stands at 100 ships, with deliveries scheduled through 2036.
Looking at each business segment, during the reporting period, Fincantieri’s shipbuilding division achieved operating revenue of €3.355 billion, an increase of 26% compared to the previous year (€2.657 billion). Of this, cruise ship revenue reached €2.13 billion, up 16% year-on-year (€1.832 billion); naval ship revenue reached €1.184 billion, up 48% year-on-year (€802 million); and ship outfitting revenue reached €41 million. The total value of new ship orders reached €14.008 billion, more than doubling from the previous year’s €6.025 billion.
The Offshore & Specialty Ships division achieved revenue of €643 million, a 10% year-on-year increase, continuing the division’s recent growth trend driven by the deployment of its order backlog. Newbuilding orders totaled €321 million (approximately US$367 million).
The underwater division achieved revenue of €274 million, up 83% year-on-year, mainly due to the consolidation of WASS Submarine Systems (€75 million) from January 2025 and the accelerated progress of contracts related to the Italian Navy’s U212 NFS submarine project in the first half of 2025. Total orders in the first half of 2025 amounted to €168 million.
The Equipment, Systems and Infrastructure segment generated revenue of €661 million, up 10% year-on-year.
In terms of ship deliveries, Fincantieri’s eight shipyards delivered a total of 13 ships, namely the cruise ship “Viking Vesta”, the FREMM series ship “Spartaco Schergat”, the Prima Plus class cruise ship “Norwegian Aqua”, the InTUItion class cruise ship “Mein Schiff Relax”, a cable laying vessel, two remote-controlled robotic units, a scientific research vessel and five offshore wind power operation and commissioning vessels (CSOVs).