Slide 1: 2017 First Quarter Results
2017 FIRST QUARTER RESULTS May 12, 2017
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 2017 Key Messages
Q1 2017 Key Messages • Q1 2017 results in line with Business Plan 2016-2020 targets: revenues up 5.3% vs Q1 2016 and EBITDA margin at 6.0% vs 4.9% Q1 2016; Business Plan targets confirmed • Total backlog(1) at € 26.6 bln covering ~6 years of work if compared to 2016 revenues: − Backlog at € 20.8 bln
Slide 4: Q1 2017 main orders and deliveries
Q1 2017 main orders Vessel Client Delivery 4 cruise ships Norwegian Cruise Line 2022-2025 Shipbuilding TBU 1 krill fishing vessel Aker BioMarine 2018 Offshore Q1 2017 main deliveries Vessel Client Shipyard Cruise ship “Viking Sky” Viking Ocean Cruises Ancona Shipbuilding Cruise ship “Majestic Prince
Slide 5: Order intake and backlog – by segment
Order intake and backlog – by segment Order intake Total backlog(1) € mln € mln 0.7x 3.2x 4.6x 5.4x 6.0x 3,546 129 5,800 210 5,800 1,180 1,444 3,800 1,155 1,361 1,082 900 3,301 Backlog Backlog 20,760 Backlog 18,231 18,859 713 15,374 16,372 13,960 228 68 620 (203) (94) (568) (657) (723) (3) (3) Q1 20
Slide 6: Backlog deployment – by segment and end market
Backlog deployment – by segment and end market Shipbuilding Offshore Comments # ship deliveries(1) # ship deliveries • 103 ships in backlog at March 31, 2017 Cruise Naval(2) • Cruise: 22 vessels − Deliveries up to 2025, stretching to 2017 2 3 5 2017 10 2017 2 17 19 2027 in case of confirmation of th
Slide 7: Revenues and EBITDA – by segment
Revenues and EBITDA(1) – by segment Breakdown by segment(2) EBITDA and EBITDA margin € mln € mln 4.9% 6.0% 1,104 1,048 8.3% 97 9.5% 104 18.1% 210 67 21.5% 236 11.0% 11 51 4.4% 9 12.6% 13 73.6% 857 6.0% 14 69.0% 756 55 6.4% 4.1% 31 (48) (60) (7) (8) (3) (3) Q1 2016 Q1 2017 Q1 2016 Q1 2017 Shipbuildin
Slide 8: Shipbuilding
Shipbuilding Revenues Comments € mln 1 • Revenues: € 857 mln, up 13% vs Q1 2016 6 260 − Growth of volumes in cruise reaching 51% of 248 Other Shipbuilding total Group revenues, with 13 units under 857 Naval 756 construction vs 11 in Q1 2016 502 596 Cruise • EBITDA: € 55 mln, margin at 6.4% (1) − Goo
Slide 9: Offshore
Offshore Revenues Comments € mln • Revenues: € 210 mln, down 11% vs Q1 2016 − Reduction of activities at European and Brazilian yards 236 − Positive effect of NOK/EUR exchange rate (€ 210 12 mln) • EBITDA: € 9 mln, with margin at 4.4% Q1 2016 Q1 2017 − Margins still do not fully benefit from the gra
Slide 10: Equipment, Systems and Services
Equipment, Systems and Services Revenues Comments € mln • Revenues: € 97 mln, down 6.7% vs Q1 2016 − Decrease of ship conversion activities which had benefited in the Q1 2016 from work on the 104 MSC Renaissance program 97 • EBITDA: € 11 mln with margin at 11.0% (1) − Decrease due to the change in Q
Slide 11: Net working capital and net debt
Net working capital and net debt(1) Breakdown by main components Comments € mln FY 2016 Q1 2017 • Net working capital and net debt dynamics related to the increase of the Inventories and advances to production volumes in cruise and the suppliers cash-in of the final installments for the Work in prog
Slide 12: Outlook
Outlook • 2017 results expected to be in line with the Business Plan Shipbuilding • Further volume growth and margin improvement thanks to ‒ the start of construction works for cruise sister ships acquired after crisis at higher prices ‒ full swing production of the Italian Navy’s fleet renewal prog
Slide 13: Investor Relations contacts
Investor Relations contacts Investor Relations Team Cristiano Pasanisi - VP Corporate Finance & Investor Relations +39 040 319 2375 cristiano.pasanisi@fincantieri.it Tijana Obradovic +39 040 319 2409 tijana.obradovic@fincantieri.it Silvia Ponso +39 040 319 2371 silvia.ponso@fincantieri.it Alberta Mi
Slide 14: Q&A
Q&A FINCANTIERI The sea ahead