Italian shipbuilder Fincantieri reported on Wednesday a 40 per cent rise in its nine-month core profit pushed by growth in all of its business segments.
Revenue for the group’s defence unit was up 39 per cent year-on-year compared to a 23 per cent rise in the shipbuilding sector, in a further sign that the state-controlled group is shifting its attention towards the increasingly profitable defence sector.
The Trieste-based firm’s order intake reached €16 billion ($18.66 billion), up 88 per cent yearly, with a total backlog just over €61 billion, guaranteeing 7.5 years of work.
The group - which is set to approve a new business plan for 2026-2030 at the end of the year - confirmed its 2025 targets pointing to revenues at around €9 billion and core profit margin above seven per cent.
(Reporting by Romolo Tosiani in Gdansk, Giulia Segreti in Rome)