Fincantieri Revenue Up

Rome - As of 31st March, revenue was up 11% compared to the previous year; EBITDA margin up 7.3%, a 22% increase on the previous year’s 6.0%. This was the performance in Fincantieri’s quarterly report, in line with the objectives of the 2018-2022 Business Plan approved by the Board of Directors, which met under the chairmanship of Giampiero Massolo. The quarter ended with a total workload of €27.7 billion, which equates to more than five years of work when compared to 2017 revenues. The backlog at 31 March 2018 amounted to €21.8 billion (€20.8 billion at 31 March 2017) with 104 ships in the portfolio and a soft backlog of approximately €5.9 billion (approximately €5.8 billion at 31 March 2017). Net financial debt amounted to €446 million (€314 million at 31/12/2017). Speaking informally at the Board meeting, Giuseppe Bono, Fincantieri’s CEO, commented: “Our performance in the first quarter of 2018 represents an initial confirmation of the lines of development set forth in the Industrial Plan we presented at the end of March. It is in line with the growth recorded in the previous two years. With production volumes and margins still growing, our company is once again proving its ability to create value while operating in an extremely complex sector.” Bono then concluded: “Strengthened by this encouraging first step, we continue along the path of growth that will make us the leaders of the global shipbuilding industry in the years to come.”