Fincantieri-The BOD approves Q1 2021 results

2021 guidance confirmed: revenues +25%-30% (excluding pass-through activities) and EBITDA margin at 7%.
Revenues at EUR 1,426 million, excluding pass-through activities, up by 9.1% compared to Q1 2020 (EUR 1,307 million at March 31, 2020), in line with the forecasts for the first quarter of the year.
EBITDA at EUR 101 million (EUR 72 million at March 31, 2020), EBITDA margin at 7.0%, up by 27.3% compared to March 31, 2020 (at 5.5%), confirming the positive trend already shown in Q4 2020.

COVID-19 related extraordinary expenses at EUR 14 million, mainly attributable to production inefficiency and expenses to safeguard personnel’s health and safety
Net Debt, at EUR 1,617 million (EUR 1,062 million at March 31, 2020), as planned and consistent with both the quarter production volumes and the delivery schedule (7 cruise units for the year, of which 3 in Q3); year-end levels expected to be broadly in line with 2020
Total backlog at EUR 34.4 billion, covering approximately 6.6 times 2020 revenues with Q1 order intake at EUR 0.3 billion: backlog at EUR 26.5 billion (EUR 27.7 billion at March 31, 2020), with 98 ships in backlog and soft backlog at approximately EUR 7.9 billion (approximately EUR 4.2 billion at March 31, 2020)
Successful delivery of the naval vessel LSS Vulcano, as part of the renewal plan of the Italian Navy’s fleet and of the expedition cruise vessel CORAL GEOGRAPHER, the second luxury ship for the Australian company Coral Expeditions