Fincantieri Board of Directors approves 1H 2019 results
• Group results in line with the 2019 economic and financial guidance and with the 2018 – 2022 Business Plan
• Revenues up 12% at euro 2,837 million (euro 2,527 million at 30 June 2018)
• EBITDA increase by 17% at euro 215 million with EBITDA margin at 7.6% (7.3% at 30 June 2018)
• Adjusted Net profit of euro 34 million (euro 39 million at 30 June 2018)
- Net profit for the period of euro 12 million (euro 15 million at 30 June 2018), after extraordinary costs for asbestos-related litigations for euro 18 million and net of tax expenses of euro 40 million
- Net debt at euro 724 million (euro 494 million at 31 December 2018) including the impact of IFRS 16 (euro 88 million) and a financial structure consistent with the increased volume and value of Cruise units in production and with the delivery schedule
- Record order intake in a single semester, with orders acquired amounting to euro 6.6 billion: signed contracts for 15 units, of which 11 cruise ships for 5 different brands (Oceania, Regent Seven Seas, Viking, MSC, Princess) and an additional vessel for the US Navy within the Littoral Combat Ship (LCS) program
- Total backlog at euro 33.1 billion, comprising 108 ships, equivalent to approximately 6.1 times 2018 revenues: backlog at euro 29.5 billion (+34% compared to 30 June 2018) with 98 units to be delivered up to 2027, and soft backlog at euro 3.6 billion
- Delivered 15 ships from 11 different shipyards, among which 5 cruise ships and 2 naval units; launched 2 vessels of the Italian Navy fleet renewal program
Full report here https://www.fincantieri.com/en/media/press-releases/2019/fincantieri-bod-approves-1h-2019-results/
aug 05 2019
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