Fincantieri profit nearly triples in 1H 2026

Fincantieri delivered a sharp improvement in profitability in the first half of 2026, with net profit reaching €102 million compared with €35 million in the same period of 2025, an increase of 188.4%. This performance came even as group revenues were broadly stable at €4.58 billion, only slightly above the €4,576 million recorded a year earlier. The results highlight the impact of higher margins and operating efficiency rather than top-line expansion. Overall, the figures point to a more profitable mix of activities across the group’s businesses.

EBITDA rose 12.5% year-on-year to €350 million in the first half, lifting the EBITDA margin to 7.6% from 6.8% in 2025. EBIT increased to €207 million from €156 million, pushing the EBIT margin to about 4.5%. These improvements indicate that Fincantieri is converting a greater share of its revenues into operating profit, reflecting better project execution and cost control. The combination of higher operating income and flat revenues underscores the quality of earnings growth in the period.

The Underwater business delivered strong growth and profitability, contributing meaningfully to the group’s results. Segment revenues rose 29.9% to €356 million, confirming solid demand in this area. EBITDA in the Underwater division was about €60 million, corresponding to an EBITDA margin near 17%, well above the group average. This performance underscores the strategic importance of the underwater activities within Fincantieri’s portfolio.

Commercial momentum remained robust across the company’s markets. Fincantieri secured €6.1 billion of new orders in the first half of 2026, supporting a larger backlog and future workload. The strength in order intake provides visibility on future revenues and underpins the company’s guidance for the full year. The combination of high-margin segments and solid order flow positions the group for continued operational continuity.

Fincantieri’s balance sheet metrics improved over the period. The adjusted net financial position showed net debt of €756 million at 30 June 2026, compared with €1,311 million at the end of 2025. The reduction in net debt reflects stronger cash generation and financial discipline. A healthier leverage profile provides the group with more flexibility in managing its operations and investments.

Management confirmed its guidance for 2026, targeting full-year revenues of around €9.3–9.4 billion. The company also maintained its EBITDA target of about €700–710 million, corresponding to an expected EBITDA margin around 7.5%. Net profit for 2026 is anticipated between €140 million and €180 million. The reaffirmed guidance, alongside improved first-half results and a stronger financial position, indicates confidence in achieving the full-year objectives.