Italy's Fincantieri H1 profits nearly triple, driven by underwater business

Fincantieri SpA

29/07/2026 11:41

ROME, July 29 (Reuters) - Italian shipbuilder Fincantieri FCT.MI said on Wednesday its first-half net profit had almost tripled from a year earlier and  core profit rose 12.5%, pushed by organic growth in its high-margin underwater business. 
"Net profit, nearly tripling compared to the same period of the prior year, underscores the effectiveness of the strategic path undertaken, as well as our ability to translate a profound order book into concrete and tangible results,"  CEO Pierroberto Folgiero said in a statement. 
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to €350 million ($398.69 million)in the first six months of the year from €311 in H1 2025.
The EBITDA margin improved to 7.6% compared to 6.8% in the same period the previous year.
Excluding the benefits from a capital increase, adjusted net debt edged down to €1.23 billion from a previous €1.31 billion.
Orders in the first six months were down sharply to €6.1 billion from 14.7 billion, but these did not include new contracts signed in the period that have not yet become effective. 
Including these orders, the value exceeds an annual target of €11 billion, the company said.
Revenue at the expanding underwater division rose nearly  30%, with a core profit margin of 17%. 
 Total backlog increased 17% year-on-year to €73.9 billion "providing deep visibility through 2039", Folgiero said. 

        


($1 = 0.8779 euros)

 (Reporting by Giulia Segreti in Rome, editing by Gavin Jones)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))