Fincantieri Reports Record Backlog with Deliveries Scheduled Through 2036

Fincantieri, one of the world’s leading shipbuilding groups, has reported an all-time high total backlog of €57.7 billion in its recently approved first half 2025 results. The backlog, which includes 100 vessels with deliveries scheduled through 2036, represents approximately 7.1 times the company’s 2024 annual revenues.

The Italian shipbuilding giant saw its backlog increase by 35% compared to year-end 2024, reaching €41.9 billion, with an additional €15.8 billion in soft backlog. This commercial performance is backed by a significant 93% year-on-year increase in order intake, which reached €14.7 billion in the first half of 2025.

The company delivered 13 ships from eight shipyards during the reporting period, while continuing to expand its presence in the defense sector. In June, Fincantieri secured an order to construct two new Multi-Mission Combat Units (PPAs) in the “Light Plus” configuration for the Italian Navy, replacing two previous units sold to Indonesia.

Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, highlighted the significance of the growing order book: “Our industrial vision focused on long-term value generation continues, also benefiting the broader stakeholder ecosystem, with a record-level total backlog, amounting to 57.7 billion euros, that not only represents a solid foundation for future growth but also stands as proof of the trust our clients place in our ability to be strategic partners in their transformation journeys.”

The company’s financial performance showed solid growth across all segments, with revenues reaching €4.6 billion, up 24% compared to the first half of 2024. The Shipbuilding segment, which contributes 68% of total revenue before intersegment eliminations, posted a 26.3% increase compared to the same period last year. Growth was particularly strong in the Defense sector, which saw a 48% increase, partially driven by the sale of two MPCS/PPA units to the Indonesian Ministry of Defense in Q1 2025.

Fincantieri has also expanded its strategic partnerships in Southeast Asia and the Middle East, signing technical collaboration agreements in Indonesia and Malaysiaas well as memorandums of understanding in Qatar and Saudi Arabia.

The company confirmed its 2025 guidance, projecting revenues of approximately €9 billion and an EBITDA margin over 7%.

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