Slide 1: 2018 First Quarter Results
2018 FIRST QUARTER RESULTS May 8, 2018
Slide 2: Safe Harbor Statement
Safe Harbor Statement This Presentation contains certain forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "pl
Slide 3: Q1 2018 Key Messages
Q1 2018 Key Messages • Q1 2018 results in line with Business Plan 2018-2022 targets: revenues up 11% vs Q1 2017 and EBITDA margin at 7.3% vs 6.0% in Q1 2017 (+22%) • Total backlog(1) at € 27.7 bln covering ~5.5 years of work if compared to 2017 revenues: − Backlog at € 21.8 bln (104 ships) up from €
Slide 4: Q1 2018 main orders and main deliveries
Q1 2018 main orders Vessel Client Delivery Shipbuilding 2 Cruise ships Viking Ocean Cruises 2022-2023 Offshore 2 Expedition cruise vessels Ponant 2020 Q1 2018 main deliveries Vessel Client Delivery Cruise ship “Carnival Horizon” Carnival Cruise Line Monfalcone (Carnival Corporation) Shipbuilding Oce
Slide 5: Order intake and backlog – by segment
Order intake and backlog – by segment Order intake Total backlog(1) € mln € mln 3.2x 0.9x 6.0x 5.2x 5.5x 3,546 5,900 5,800 4,100 129 210 1,186 1,196 1,180 1,418 1,363 1,444 Backlog Backlog Backlog 3,301 20,760 22,053 21,830 20,238 20,005 1,076 18,859 167 217 750 (94) (58) (723) (789) (734) Q1 2017 Q
Slide 6: Backlog deployment – by segment and end market
Backlog deployment – by segment and end market Shipbuilding Offshore Comments # ship deliveries(1) # ship deliveries • 8 units delivered in Q1 2018, 104 ships Cruise Naval(2) in backlog at March 31, 2018 • Cruise: 27 vessels 2018 1 4 5 2018 1 6 7 2018 6 26 32 − Deliveries up to 2025, stretching to 2
Slide 7: Revenues and EBITDA – by segment
Revenues and EBITDA(1) – by segment Revenues breakdown by segment(2) EBITDA and EBITDA margin € mln € mln 1,226 6.0% 7.3% 1,104 12.6% 167 8.3% 97 245 89 18.4% 18.1% 210 9.2% 15 67 3.5% 9 11.0% 11 4.4% 9 857 69.0% 916 73.6% 74 8.0% 55 6.4% (60) (102) (8) (9) Q1 2017 Q1 2018 Q1 2017 Q1 2018 Shipbuildi
Slide 8: Shipbuilding
Shipbuilding Revenues Comments € mln 5 • Revenues: € 916 mln, up 6.9% vs Q1 2017 1 260 292 − Growth of volumes in cruise reaching 47% of total Other Shipbuilding Group revenues 857 916 Naval − Progress of Italian Navy's fleet renewal program and 596 619 start of design activities for the Qatari Mini
Slide 9: Offshore
Offshore Revenues Comments € mln • Revenues: € 245 mln, up ~17% vs Q1 2017 − Despite negative effect of NOK/EUR exchange rate (€ 18 mln) − Ongoing implementation of diversification strategy, 210 245 which generated an increase in production volumes especially in Romanian yards Q1 2017 Q1 2018 • EBIT
Slide 10: Equipment, Systems and Services
Equipment, Systems and Services Revenues Comments € mln • Revenues: € 167 mln, up 72% vs Q1 2017 − Growth in volumes of after sales activities, of life- cycle management services and in the cabins and 167 public areas business 97 • EBITDA: € 15 mln with margin at 9.2 % − Reflects the change in the m
Slide 11: Net working capital and net debt
Net working capital and net debt(1) Breakdown by main components Comments € mln FY 2017 Q1 2018 • Net working capital and net debt dynamics related to the production Inventories and advances to volumes in cruise and the cash-in of suppliers the final installments for the cruise ship Work in progress
Slide 12: Outlook
Outlook • 2018 results expected to be in line with 2018-2022 Business Plan targets Shipbuilding • Expected delivery of 10 units, of which 4 cruise ships and 6 naval vessels • Italian Navy’s fleet renewal program fully operational • Start of design activities related to the Qatari order Offshore • On
Slide 13: Investor Relations contacts
Investor Relations contacts Investor Relations Team Cristiano Pasanisi – VP Group Treasury, Corporate Finance & Investor Relations +39 040 319 2375 Cristiano.pasanisi@fincantieri.it Matteo David Masi – Head of Investor Relations +39 040 319 2334 MatteoDavid.masi@fincantieri.it Alberta Michelazzi +39
Slide 14: Q&A
Q&A FINCANTIERI The sea ahead