October 26, 2016 1:43 AM ET


Company Overview of Fincantieri S.p.A.

Company Overview

Fincantieri S.p.A. operates in the shipbuilding industry. The company operates in three segments: Shipbuilding; Offshore; and Equipment, Systems and Services. The Shipbuilding segment designs and constructs cruise ships; ferries, including cruise, Ro-Pax, hi-tech, and fast ferries; naval vessels, such as aircraft carriers, submarines, destroyers, frigates, corvettes, patrol vessels, amphibious ships, logistic support, special vessels, and barges; and mega yachts. This segment also provides ship repair, refitting, conversion, and refurbishment services. The Offshore segment designs and constructs offshore support, construction, and drilling vessels; and offers drill ships, semi-submersible dr...

Via Genova, 1

Trieste, TS 34121


Founded in 1959

18,825 Employees


39 0403 19 31 11


39 0403 19 23 05

Key Executives for Fincantieri S.p.A.

Chief Executive Officer and Director
Age: 72
Total Annual Compensation: €1.2M
Compensation as of Fiscal Year 2015.

Fincantieri S.p.A. Key Developments

Carnival Signs Agreement to Purchase Two China-Built Cruise Ships from China State Shipbuilding Corp and Fincantieri

Carnival agreed to purchase the cruise industry's first ships built in China for what it hopes is a burgeoning Chinese market. Carnival has signed a memorandum of agreement to order two new cruise ships that will be built by China State Shipbuilding Corp. and Fincantieri. The memorandum also gives Carnival the option to order two more of the ships built in China. Carnival will use the ships to help launch the first multi-ship domestic cruise brand in China. They will be designed to fit "the specific tastes of Chinese travelers. The first ship is expected to be delivered in 2022.

Damen And Fincantieri Reportedly Eyes STX France

Damen Shipyards Group N.V. and Fincantieri S.p.A. (BIT:FCT) are the two potential buyers that have emerged for STX France SA, a shipyard subsidiary of STX Corp. (KOSE:A011810), French daily Le Monde said. "Fincantieri and Damen are fighting over the last big French company of the (shipyard) sector," Le Monde said, citing several sources.

Fincantieri Reports Earnings Results for the First Half of 2016; Provides Earnings Guidance for the Year 2016, 2018 and 2020

Fincantieri reported earnings results for the first half of 2016. For the period, from a financial point of view, the Group generated in growth and operating free cash flow of more than EUR 130 million after repayment of about EUR 227 million related to operating finance. Revenues were EUR 2.266 billion. The profit before extraordinary and non-recurring items was at EUR 19 million. Total loss before extraordinary and non-recurring items of last year was EUR 252 million. The net profit was EUR 5 million after extraordinary and non-recurring items, gross of tax effect at EUR 18 million. This is mainly -- those are mainly related asbestos claims at EUR 12 million and costs for VARD restructuring plans, EUR 5 million. The company had EUR 94 million of capital expenditures at 4.1% of the revenues, EUR 63 million of them were tangible CapEx. Those are mainly targeting the support of the development of the production volumes. The company also had net cash flows from operating activities at EUR 131 million. It was negative in the first half of 2016 by EUR 177 million but for the total of the year 2015 was minus EUR 287 million. For 2016, the company confirm the guidance with a revenue increase 4% to 6% versus 2015; an EBITDA margin of 5%; and a positive net result. For 2018, the company confirm guidance with a revenue increase of between 16% and 23% versus 2016; an EBITDA margin range between 6% and 7%; and a reduction in net debt at EUR 0.4 billion/EUR 0.6 billion. For 2020, guidance is also confirmed with a further revenue increase between 16% and 21%; EBITDA margin at between 7% and 8%; and net debt at EUR 0.1 billion to EUR 0.3 billion.

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