Fincantieri on Thursday pledged to double its core profit to €1.25 billion ($1.49 billion) in 2030 under a new defence-centred multi-year strategy that will also double its shipyard production capacity in Italy and expand its underwater business.
Rising demand from the defence sector as Europe steps up military spending, with new contracts coming in already this year, is driving the need to increase production capacity, Fincantieri said.
The Italian shipbuilder projected a 40 per cent increase in revenue through 2030, with a further target to double it to €18 billion by 2035 from the around €9 billion it expects to report for 2025. It revised up its core profit margin expectation for 2025 to 7.4 per cent and said it would further expand it to 13 per cent, or €2.3 billion, in 2035.
To increase profit margins, Fincantieri aims to expand operations in Vietnam under a revamp of its shipyard production system. It will shift part of the cruise-ship section production to Romania and reorganise the offshore and specialised vessels business.
Fincantieri said it aimed to develop new technologies at its underwater division, deepening links with its defence business and pursuing selective acquisition opportunities in what it sees as a high-tech, strategically important market. It previously targeted a margin for earnings before interest, tax, depreciation and amortisation above seven per cent and a positive net profit for 2025.
It now said its 2025 net profit would reach €110 million. Shares rose four per cent by 12:01 GMT.
In 2026 the company is targeting revenue of between €9.2 billion to €9.3 billion, net profit above the previous year, and an EBITDA margin of around 7.5 per cent.
(Reporting by Mirko Miorelli in Gdansk and Valentina Za in Milan; Editing by Matt Scuffham, Kirsten Donovan)
