Fincantieri Reports Record Quaterly Performance

Italian shipbuilding giant Fincantieri S.p.A. reported unprecedented growth in the first quarter of 2025, with EBITDA surging 54% to €154 million and total backlog reaching a record €57.6 billion.

The company’s performance was marked by significant revenue growth of 35% year-over-year, reaching €2,376 million. A key highlight was the launch of their new Underwater segment, which achieved an impressive 17% EBITDA margin.

Pierroberto Folgiero, CEO and General Manager of Fincantieri, stressed the strategic importance of the new Underwater segment, stating it “represents a fundamental step in the Group’s industrial evolution” in the defense and critical submarine infrastructure domain.

The quarter saw notable developments in sustainable shipping technology, with Fincantieri announcing the construction of the world’s first hydrogen-powered cruise ship. The Viking Libra, scheduled for delivery in 2026, will feature innovative hydrogen storage solutions developed by subsidiary Isotta Fraschini Motori.

The company’s order intake reached €11.7 billion, its best quarterly performance ever, driven by major contracts including four jumbo cruise ships for Norwegian Cruise Line Holdings and four vessels for Viking Cruises.

In the defense sector, Fincantieri secured strategic agreements in Asia and the Middle East, including a partnership with thyssenkrupp Marine Systems for the Philippine Navy’s modernization program and a €500 million contract through its joint venture MAESTRAL for supporting the UAE Navy fleet.

Subscribe for Daily Maritime Insights

Sign up for gCaptain’s newsletter and never miss an update

— trusted by our 109,064 members