Italian shipbuilder Fincantieri on Tuesday set a goal of a 40 per cent rise in revenues and a near doubling of core profits in its new five-year plan, expanding to the defence and underwater businesses while keeping its leadership on cruise ships.
The 2026-2030 strategy, dubbed "F4 fast forward further future" and expected to be detailed in the first months of next year, forecasts more than €50 billion ($58.79 billion) of new orders, particularly in the defence sector.
"With this plan, we enter a new phase of growth: we strengthen production capacity, increase competitiveness and maintain focus on our core business and operational efficiency," Chief Executive Pierroberto Folgiero said in a statement.
The group expects revenues to reach €12.5 billion in 2030, up from around €9 billion in 2025, with earnings before interest, taxes, depreciation and amortisation (EBITDA) seen rising 90 per cent to €1.25 billion at the end of the five years.
Net profit was forecast at €500 million in 2030, with a profit margin of about four per cent by the end of the period.
The state-controlled group said it planned to invest in its Italian shipyards to double production capacity for the defence segment and reduce delivery times, to meet rising domestic and international demand.
The company said it expected new defence orders from Italy and the US as soon as 2026.
Its underwater unit, formed at the beginning of the year, was seen benefitting from a market expected to double in 2026-2030 to €43 billion, driven by traditional products as well as new demand for defence systems and solutions to address hybrid threats.
Fincantieri said its traditional cruise sector would be supported by a 4.5 per cent average annual growth rate in passengers. The company already has 34 units in its portfolio and deliveries scheduled up to 2036, it said.
(Reporting by Giulia Segreti, editing by Alvise Armellini and Ros Russell)