Italian Shipyard Fincantieri Looks to Slash Leverage, Avoid Capital Increase
- Italian company announced new business plan to 2027 Friday
- CEO Folgiero says there will be no need for a capital hike
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Italy’s Fincantieri SpA wants to slash its debt-to-profit ratio in its new business plan through 2027, as the state-controlled shipbuilder looks to avoid seeking new funds from investors, Chief Executive Officer Pierroberto Folgiero said in an interview in Milan.
The new guidelines of the new strategic plan for 2023-2027 unveiled on Friday, Folgiero’s first as CEO, target a decline of the ratio between net debt and earnings before interest, tax, depreciation and amortization to 2.5 to 3.5 times in 2027 from 4.5 to 5.5 times in 2025, according to a statement.