As of June 30, 2026, Fincantieri—the Italian shipbuilding giant and one of the world’s largest shipbuilding groups—held an order book valued at €74 billion (approximately US$85.211 billion), reflecting continued robust commercial performance with delivery schedules extending to 2039.
On July 29, Fincantieri released its financial results for the first half of 2026. During the reporting period (ending June 30, 2026), the company generated revenue of €4.58 billion (approximately US$5.274 billion), remaining essentially flat year-on-year (compared to €4.576 billion). Net profit reached €102 million (approximately US$117 million), nearly tripling from the previous year’s €35 million. EBITDA stood at €350 million, a 12.5% increase from the €311 million recorded in the same period last year, while the EBITDA margin rose by 0.8 percentage points to 7.6% (up from 6.8%).
By business segment, Fincantieri’s shipbuilding division generated revenue of €3.157 billion, a 5.9% decrease year-on-year (compared to €3.355 billion); EBITDA rose to €236 million, a 7.9% increase year-on-year (compared to €218 million); driven by improved profitability in the cruise ship segment, the EBITDA margin climbed to 7.5%, up 1 percentage point year-on-year (from 6.5%).
Specifically, revenue from the cruise ship segment stood at €2.439 billion, up 14.5% year-on-year (from €2.13 billion); revenue from the defense segment was €687 million, a year-on-year decline (from €1.184 billion); and revenue from third-party clients in the ship interiors sector was €31 million, down year-on-year (from €41 million).
In the Offshore and Specialized Vessels segment, Fincantieri generated revenue of €792 million during the reporting period, a 22.4% increase year-on-year (compared to €647 million); EBITDA rose to €40 million, up 14.4% from €35 million; and the EBITDA margin stood at 5%, consistent with recent trends.
Regarding orders, Fincantieri secured €6.12 billion (approximately US$7.047 billion) in new orders during the first half of 2026, resulting in a book-to-bill ratio (new orders/revenue) of 1.3. Of this total, the shipbuilding segment accounted for €4.5 billion in new orders—excluding orders signed during the period that had not yet become effective by June 30, 2026—while the offshore and specialized vessels segment secured €902 million.
During the reporting period, orders for four cruise ships became effective: two new vessels ordered by Carnival Corporation for its AIDA Cruises brand, and two new vessels ordered by Viking Cruises.
As of June 30, 2026, Fincantieri held an order book of 92 vessels, with a total order value of €73.9 billion—comprising €43.0 billion in firm orders and €30.9 billion in options—representing approximately eight times its projected 2025 revenue.
Regarding deliveries, Fincantieri delivered over ten vessels in the first half of 2026. These included five cruise ships—”Norwegian Luna”, “Four Seasons I”, “Viking Mira”, “Mein Schiff Flow”, and “Costanza I di Sicilia”—as well as four CSOVs and one cable-laying vessel.
Fincantieri has raised its performance guidance for 2026: revenue is projected to be between €9.3 billion and €9.4 billion, EBITDA between €700 million and €710 million, and net profit between €140 million and €180 million, with an estimated EBITDA margin of 7.5%.