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14 June 2021 The on-line newspaper devoted to the world of transports 13:15 GMT+2

July 31, 2020

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Fincantieri closes the first half with a net loss of -137 million euros

Revenues decreased by -15.6% and the value of new orders fell by -74.0%

In the first half of this year, the group's revenues Fincantieri's naval mechanic amounted to 2.37 billion euros, down -15.6% on the first half of 2019. EBITDA is 119 million euros (-47.6%) operating profit at 54 million (-64.0%). The first six months of 2020 were net loss of -137 million euros compared to net profit of 12 million euros in the same period of the year last year.

In the first half of 2020, Fincantieri acquired new orders with a total value of 1.72 billion euros, with a decrease of -74.0%. The value of the group's order book as of June 30, it was 36.68 billion euros (-0.8%). At 30 June 2020, the group's overall workload reached 37.9 billion euros (up 14.4% on 30 June 2019), of which EUR 28.0 billion backlog (-5.1%) and 9.9 billion euros backlogs (175.0%), which includes the latter value, which includes the existing contracts, options and letters of intent, contracts in an advanced state of non-negotiation already included in the backlog.

"Obviously," commented the CEO of Fincantieri, Giuseppe Bono - the economic and financial results are affected by the production slowdown due to coronavirus. However, the workload allows us to look to the future confidence, confirming a continuity of work for the next 6/7 years, resulting in financial and economic performance targets of the previous business plan."

In the first six months of this year, revenues from the segment Shipbuilding of the group amounted to 2.03 billion euros (-17,5%) EBITDA was 115 million euros (-51.9%). New orders acquired in the segment totaled 1.36 billions (-78.6%) and the value of the division's orderbook as of June 30, it was 34.16 billion euros (-0.6%).

In the Offshore and Special Ships segment, revenues amounted to 228 million euros (-2.6%) and the value of gross operating margin negatively for -1 million euros compared to negative value of -33 million in the first half of 2019. The segment has acquired new orders for 164 million euros (up 215.4%) and the value of the order book as of June 30, 2020 1.26 billion euros (-1.3%).

In the Component and Service Systems segment, revenues are results of 392 million euros (up 5.7%) EBITDA is 24 million euros (-38.5%). The new orders 322 million euros (-7.7%) and the value of the orderbook As of June 30, it stood at 2.76 billion euros 9.1%).

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