Italian shipbuilder Fincantieri has published its first quarter 2025 financial results, which indicate that the company achieved a 35 per cent growth in revenue to €2.376 billion (US$2.64 billion) compared to the same period in 2024.
Fincantieri's gross operating profit increased materially year-on-year by 35 per cent to €154 million (US$171 million), having been driven by performances across all segments, in particular in shipbuilding.
The gross operating profit margin stood at 6.5 per cent, having improved significantly compared to 5.7 per cent achieved in Q1 2024.
Fincantieri said this was mainly due to the revenue growth in the defence segment, operational efficiency measures in the cruise business, and the contribution of WASS Submarine Systems (consolidated at the beginning of 2025).
Fincantieri said it had its best ever quarterly order intake totaling €11.7 billion (US$13 billion) as of March 31, 2025, compared to Q1 2024 (€500 million; US$560 million) and representing approximately 76 per cent of the total record value achieved in 2024, with a book-to-bill ratio at 4.9 times revenues.
The company delivered four ships in Q1 2025 while 102 units in portfolio with deliveries are scheduled up to 2036.
Among the four ships delivered by Fincantieri in Q1 2025 are the cruise ships Mein Schiff Relax and Norwegian Aqua and the cable laying vessel Monna Lisa,