Fincantieri Boosts 2026 Financial Outlook Amidst Record Q1 Orders
Fincantieri's Upward Revision and Q1 Performance
Revised Full-Year Guidance
ROME, May 11 (Reuters) - Italian shipbuilder Fincantieri on Monday revised upwards its full-year guidance for revenues, core profit and net profit on the back of strong orders in the first months of the year.
Analysis of New Orders
Order Volume Comparison
New orders were down just over 70% to 3.4 billion euros ($4.00 billion) in the first quarter compared to 2025, but these did not include large contracts which were signed but not accounted for from January to February, the group said in a statement.
Surpassing Contract Targets
The state-controlled group said that in the first months of the year it had surpassed a target of 11 billion euros ($12.95 billion) in new contracts it had set for the whole of 2026.
Executive Commentary
CEO Statement on Growth
"The first quarter of 2026 confirms the consistency and strength of the Group's growth trajectory," Chief Executive Pierroberto Folgiero said in a statement.
Commercial Performance Milestone
Backlog and Delivery Visibility
"Commercial performance has reached a new milestone, with the highest-ever backlog of 74.2 billion euros, providing visibility on deliveries further extended through 2039," he added.
Additional Information
Exchange Rates
($1 = 0.8495 euros)
($1 = 0.8500 euros)
Reporting Credits
(Reporting by Giulia Segreti, editing by Gavin Jones)
