Consolidated 2018 results

• Record-high revenues at almost euro 5.5 billion increased by 9% compared to 2017
• Growing profitability with EBITDA at euro 414 million (+21% compared to 2017), with a margin of 7.6% (6.8% in 2017)
• Adjusted net income at euro 108 million (+19% compared to 2017)
• Net income at euro 69 million (+30% compared to 2017).
• Net debt at euro 494 million
• Order intake at euro 8.6 billion: orders for 27 units, 14 of which are cruise ships for 8 different clients, reconfirming the commercial effectiveness of Fincantieri. New orders awarded by TUI Cruises demonstrate the ability of the Group to attract new clients
• Record-high total backlog with 116 units at euro 33.8 billion (+29%): backlog at euro 25.5 billion (+16%) and soft backlog at euro 8.3 billion
• Successful delivery of 35 units from 15 different shipyards
• Completion of delisting process of VARD and launch of its full integration with the Italian activities of the Group aiming at ensuring greater coordination
• Continued focus on strategic initiatives:

-         Grounds laid for the establishment of a joint venture with Naval Group, with the support of the Italian and French Governments

-         Signed a share purchase agreement for the acquisition of 50% of Chantiers de l’Atlantique (ex STX France). Upon closing of the transaction, currently subject to the approval by the Antitrust Authorities, an additional 1% of the share capital will be lent to Fincantieri

-         Improved positioning in the infrastructure business through the involvement in relevant projects, notably in Romania and in Italy for the construction of the bridge over the Polcevera river in Genoa

-         Consolidation of the existing activities in the area of electronics and IT, a strategic sector for innovation, with the objective of further strengthening the existing knowledge base in the field of cybersecurity, automation, simulation, training and technologies for unmanned conduct, by creating synergies within the Group

Read the full report here https://www.fincantieri.com/en/media/press-releases/2019/2018-consolidated-financial-statements-and-draft-financial-statements-of-the-parent-company/