Fincantieri on Thursday pledged to double its core profit to €1.25 billion ($1.49 billion) in 2030 under a new defence-centred multi-year strategy that will also double its shipyard production capacity in Italy and expand its underwater business.
Rising demand from the defence sector as Europe steps up military spending, with new contracts coming in already this year, is driving the need to increase production capacity, Fincantieri said.
The Italian shipbuilder projected a 40 per cent increase in revenue through 2030, with a further target to double it to €18 billion by 2035 from the around €9 billion it expects to report for 2025. It revised up its core profit margin expectation for 2025 to 7.4 per cent and said it would further expand it to 13 per cent, or €2.3 billion, in 2035.
To increase profit margins, Fincantieri aims to expand operations in Vietnam under a revamp of its shipyard production system. It will shift part of the cruise-ship section production to Romania and reorganise the offshore and specialised vessels business.
