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17 February 2020 The on-line newspaper devoted to the world of transports 13:08 GMT+1

November 8, 2019

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The increase of the economic results of the Fincantieri group is stopped by the performances of the Vard

In the first nine months of the 2019 group it has acquired new orders for 6,81 billion euros (- 10.4%)

In the first nine months of this year the revenues of the navalmeccanico group Italian Fincantieri are piled to 4,25 billion euros, in increase of +9.7% regarding 3,89 billion in the same period of 2018, and the EBITDA has been pairs to 287 million euros (+2.1%). In the single segment of the shipbuilding the turnover has been of 3,68 billion euros, in increase of +11.1% regarding 3,32 billion (rectified value as a result of the redefinition of the operating fields of the group) in the first nine months last year, and the EBITDA has been of 336 million euros (+30.2%), with revenues pairs to 2,59 billion in the single field of cruise ships (+11.0%) and to 1,08 billion in that of military ships (+11.0%). In the section of means for the offshore industry and of the special ships the revenues have been attested to 392 million euros (- 17.5%) and the EBITDA has been of sign negative and pairs to -75 million euros respect to an EBITDA restated of sign negative for -4 million euros in the period January-september of 2018. The division of the group that takes care of search, planning and production of systems and naval members has totaled revenues pairs to 582 million euros (+27.1%) and an EBITDA of 55 million euros (+5.8%).

In the first nine months of the 2019 Italian group it has acquired new orders for a value total of 6,81 billion euros, with a bending of the -10,4% regarding the rectified value of 7,60 billion as a result of the redefinition of the operating fields, of which 6,48 billion in the segment Shipbuilding (- 0.3%), 94 million in those Offshore and special ships (- 89.2%) and 424 million in the segment Systems, members and services (- 27.6%). In the course of the first nine months of this Fincantieri year it has undersigned contracted for 17 units, between which 11 cruise ships for five various brands (Oceania, Regent Seven Seas, Viking, MSC, Princess) and an ulterior unit for US Navy in the within of the program Littoral Combat Ship (LCS). Moreover in the period the ship yards of the group have delivered 18 ships, between which two cruise ships, three units expedition cruise and three military ships, and are launched two unit of the program of renew of the fleet of Marina Militare Italiana.

Fincantieri has emphasized that the operating results of the group are positive and in improvement in all the sections although limited from the results negatives of controlled the Norwegian Vard, that produces mainly average naval for the offshore market and that at the end of 2018 has exited from the list of the Stock exchange of Singapore, for which are in existence a process of reorganization face to the improvement of the managerial course.

"In these months - the managing director of Fincantieri has commented, Giuseppe Bono - we have demonstrated of being a rare example in the industrial panorama. A pluriennale visibility, in fact, guarantees us a concrete increase of the revenues, gone up in these nine months of 10% regarding 2018. Unfortunately, the results of the group are influenced by the contribution negative of Vard that discounts permanere of the effects of the deep crisis of the market of reference of the Oil & Gas and the costs supported for the income in the construction of cruise ships. The reorganization of Vard - it has specified Bono - is a priority for all the group and has dedicated to this initiative many of the best Italian resources. The complexity of our produced one and the relative processes pushes us towards the continuous innovation to the aim of being able to improve the performances up to here reached. Of the delivery in the single month of October is test very three cruise ships from three yards of the group for three various customers. The successes of our group and the positive economic-social impact of our activities concur to the prestige of the exports of the Country and, after all, to the affirmation of the Made in Italy in the world. We can moreover say that we are participating from protagonists to the shipbuilding consolidation of the European".

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