Fincantieri posts improved financial results
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Italian ship-building giant Fincantieri has doubled its EBITDA for the first six months of this year compared to the same period in 2012.
The shipbuilder registered an EBITDA (earnings before interest, taxes, depreciation, and amortisation) of EUR137 million (GBP117m, US$180m) on revenues of EUR1.9bn, compared to EUR68m and EUR1.2bn respectively in H1 2012.
Its operating result, the figure after interest, taxes and other fees are removed, came in at EUR101m for the half-year period.
On top of previous orders the company has secured another four builds this year for Carnival Cruise Lines, Holland America Line, Regent Seven Seas and Compagnie du Ponant.
New orders in the first six months of this year amounted to EUR1.8bn, with its total orderbook at EUR10.9bn. This includes new ships that are currently under construction for P&O Cruises and Viking’s new ocean arm.
Fincantieri attributed the increased numbers to the continued ship orders and its acquisition of Vard (formerly STX OSV).
In a statement from the company, Giuseppe Bono, Fincantieri’s CEO said: “There are reasons to be reasonably optimistic about the future, especially if the Fincantieri system and the national system will achieve a unity of purposes focusing on sectors that stimulate exports and employment and attract major foreign investments in Italy.”
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