Defence and underwater business propel Fincantieri's H1 2025 revenue growth

Italian shipbuilder Fincantieri reported on Wednesday a 45 per cent rise in core profits and a 24 per cent rise in revenues in the first half of 2025, with particularly strong growth in the key defence and underwater businesses. "Our results are not merely figures, but a snapshot of a company that is turning the complexity of the global scenario into a driver of growth and value creation," Chief Executive Pierroberto Folgiero said in a statement.

The company's order book almost doubled to €14.7 billion ($16.9 billion) in the first half of this year, up from €7.6 billion in the first six months of 2024 and reaching a record level backlog at €57.7 billion.

While confirming its full-year revenue and core profit margin guidance, the state-controlled group improved its forecast for its net debt to core profit ratio - or its reliance on debt - to between 2.7 and 3.0, from a previously estimated 3.3.

Revenues rose to €4.58 billion from €3.68 billion in the same period the previous year, and above expectations, lifted by orders from the Italian Navy and deals with Indonesia.

(Reporting by Giulia Segreti Editing by Keith Weir)