Fincantieri Reports Nine-Month EBITDA Increase

Fincantieri shipbuilding

Fincantieri has reported EBITDA of 287 million euros on revenues of 4.3 billion euros for the first nine months of 2019 (ending Sept. 30, 2019), compared to EBITDA of 281 million euros on revenues of 3.8 billion euros for the same period last year.

The shipbuilding segment represented revenues of 3.7 billion euros of which cruise ships accounted for 2.6 billion euros, up 11 percent over last year.

The EBITDA for the shipbuilding section was 336 million euros.

Vard, however, made a negative contribution to the nine-month results, according to Fincantieri, citing the effect of the crisis in the oil and gas market and the costs associated with converting the subsidiary’s facilities to cruise ship building.

During the nine months, Fincantieri said it delivered 18 ships from 11 different shipyards, of which two were cruise ships and three were expedition cruise ships. In addition, three cruise ships were delivered in the month of October, built at three different yards for three different owners, Hapag’s Loyd’s Haseatic Inspiration, the Sky Princess and the Carnival Panorama.

In addition, last week the 135,900-ton Costa Firenze was floated out at the Marghera yard. Being built for the Chinese market, she is scheduled for delivery Sept. 30, 2020. Her maximum passenger capacity is 5,200.

The total backlog of orders is valued at 32.3 billion euros, comprising 106 ships, with deliveries slated through 2027.

According to Fincantieri, the EU Antitrust Authority is continuing its consideration of the company’s planned acquisition of Chantiers de l’Atlantique.

Fincantieri further stated that the business outlook is positive due to the favorable trends of cruise and naval shipbuilding across all geographies.

Source: cruiseindustrynews.com

 

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