Fincantieri S.p.a. · MIL:FCT
Fincantieri — 1H 2024 Earnings Presentation
31 slides from Fincantieri's earnings presentation, Jul 30, 2024
Slide 1: 1H 2024 Results Presentation
TH’2024 Results Presentation July 30, 2024 FINCANTIERI www. fincantieri.com
Slide 2: Agenda
Slide 3: Successful Completion of the Capital Increase
1H 2024 Results FINCANTIER! Successful Completion of the Capital Increase itive reaction from the market from the iy Capital Increase Acquisition of UAS The share capital increase of € 500 min is intended to fund the Acquisition of the UAS (“Underwater Armaments Systems”) business line from Leonardo
Slide 4: Agenda
Slide 5: Financial Results
1H 2024 Financial Results Revenues EBITDA EBITDA margin Net Financial Position 1H 2024 € 3,681 min € 214 min 5.8% € 2.42 bn FINCANTIER! +0.3% vs 1H 2023 with an acceleration expected in 2H 2024, in line with guidance +15.6% vs 1H 2023 +80 bps vs 1H 2023 vs € 2.81 bn in 1H 2023 (€ 2.27 bn in FY 2023)
Slide 6: 1H 2024 Key Commercial Highlights
FINCANTIERI 1H 2024 Key Commercial Highlights 1H 2024 Order Intake €7.6bn 3.6 times 1H 2023 Book-to-bill 2.1x Backlog € 27.4 bn +24.2% vs 1H 2023 Total Backlog € 41.1 bn 5 .4X 2023 revenues All time high
Slide 7: Excluding positive effect of capital increase
(Excluding positive effect of capital increase)
Slide 8: Commercial pipeline conversion into orders
1H 2024 Results Commercial pipeline conversion into orders Cruise NCLH EVEL Near Future Submarine FINCANTIER! CSOV = Six new next-generation cruise ships: two for Regent Seven Seas Cruises and four for Oceania Cruises = The six ships will be delivered in 2026 and 2029 (Regent Cruises), 2027, 2028, 2
Slide 9: Order book with strong visibility up to 2032
1H 2024 Results FINCANTIER! Order book with strong visibility up to 2032 Total backlog! of € 41.1 bn, equal to 5.4x FY 2023 revenues? — Soft Backlog at € 13.7 bn, further supporting the commercial pipeline Shipbuilding — Cruise Shipbuilding — Naval Offshore & Specialized Vessels #ship deliveries #sh
Slide 10: Group Performance
ful Com 5 O Group nial
Slide 11: Strong order intake of €7.6bn
1H 2024 Results Strong order intake of €7.6bn Order intake breakdown by segment FINCANTIER! with a book to bill at 2.1x (€ min) Book-to-bill! 6,695 2,134 (171) (330) 1H 2023 1H 2024 Wishipbuilding HB offshore & Specialized Vessels HM Equipment, Systems & Infrastructure Eliminations 1. Order intake /
Slide 12: Total backlog all time high of €41.1bn, 5.4x FY 2023 revenues
1H 2024 Results FINCANTIER! Total backlog all time high of €41.1bn, 5.4x FY 2023 revenues Total backlog! breakdown by segment (€ min) Total backlog at € 41.1 bn, approximately 5.4 times FY 2023 revenues Backlog at € 27.4 bn (€ 23.1 bn as of December 31, 2023), with 96 units in portfolio, with delive
Slide 13: Revenues at € 3.7 bn, in line with expectations
1H 2024 Results FINCANTIER! Revenues at € 3.7 bn, in line with expectations Revenues breakdown by segment! (€ min) Hicnuise Binaval Hequipment, Systems & Infrastructure Ship Interiors Hloffshore & Specialized Vessels Eliminations 3,669 3,681 Shipbuilding| Shipbuilding| 2,972 2,761 (324) (309) 1H 202
Slide 14: EBITDA up 16% YoY, margin at 5.8%
1H 2024 Results FINCANTIER! EBITDA up 16% YoY to € 214 min, margin at 5.8% (+80bps) EBITDA breakdown by segment! Shipbuilding EBITDA at € 172 mln, reflecting lower revenues, with improving EBITDA margin at 6.2%, +10 bps YoY (6.1% in 1H 2023) Offshore & Specialized Vessels EBITDA up 36.8% YoY at € 26
Slide 15: Net result adjusted almost at breakeven
1H 2024 Results FINCANTIER! Net result adjusted almost at breakeven EBITDA to Net Results (Emin) (123) 91 (92) Extraordinary items ? = == ae 7) q ! —a—: —j— i D&A Financial Taxes 1 Asbestos ' Tax effect expenses 1 1 EBITDA EBIT Income Adjusted net result | Other | Net result from investments Net res
Slide 16: Deleveraging path ahead of plan
1H 2024 Results Deleveraging path ahead of plan Net Working Capital! breakdown Net Financial Position? eam enn 1H 2023 FY 2023 1H 2024 1H 2023 FY 2023 1H 2024 767 1 (2,707) (2,471) (2,694) (209) (237) (239) (1,779) (1,627) (1,164) Nwc! 891 (316) (177) NEP2 (2,813) (2,270) (2,424) Hil inventories and
Slide 17: 2024 maturities already refinanced
2024 maturities already refinanced Variable rate ~20% Fixed rate or hedged by derivatives ~ 80%1 ~ 4.3% ~ 42% ESG linked / Green credit line 2
Slide 18: Agenda
Slide 19: Full recovery of Cruise market, new opportunities in Defence and Offshore
1H 2024 Results Full recovery of Cruise market, new opportunities in Defence and Offshore expected to continue FINCANTIER! Gap between supply and demand of vessels expected starting from 2026, with a revamp of new orders and negotiations from 2024 already observed, affecting both the luxury and main
Slide 20: First company in Italy with Travel Risk Management certification (ISO 31030)
On July 11, 2024, Fincantieri was the first company in Italy to obtain the "Travel Risk Management" certification (ISO 31030) from RINA
Slide 21: Agenda
Slide 22: Concluding remarks
1H 2024 Results FINCANTIER! Concluding remarks = Uniquely positioned investment story with strong top line and profitability growth over the plan period = Strong commercial pipeline translating into acceleration of orders in all market segments driven by supportive macrotrends = Deleveraging path we
Slide 23: Q&A
Slide 24: Investor Relations contacts
1H 2024 Results Investor Relations contacts INSTITUTIONAL INVESTORS investor.relations@fincantieri.it INDIVIDUAL SHAREHOLDERS azionisti.individuali@fincantieri.it FINCANTIER!
Slide 25: Appendix
Slide 26: Business Plan revenues at c. €9.8 bn in 2027
1H 2024 Results FINCANTIER! Business Plan revenues at c. € 10 bn in 2027, not including the strategic M&A initiatives’ contribution ACTU REVISED BUSINESS PLAN FY 2019! FY 2022 FY 2023 FY 2024 FY 2025 FY 2027 Revenues (€) 5.8 bn 7.4 bn 7.7 bn ~8.0bn YA ~ 8.8 bn ~ 9.8 bn EBITDA Margin 5.5% 3.0%2 5.2%
Slide 27: Focus on Shipbuilding
1H 2024 Results Focus on Shipbuilding FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex (Emin (Emin) (Emin " Orders: € 6,695 min (€ 1,106 min in 1H 2023) = Backlog: € 23,068 min (€ 18,908 6.1%) ——— min in FY 2023) oer C 61% ) (62%) = Deliveries: : 2,761 — = «Sun Princess» for Princess
Slide 28: Focus on Offshore
1H 2024 Results FINCANTIERI Focus on Offshore Orders, backlog and deliveries Revenues EBITDA Capex (Emin) (Emin (Emin = Orders: € 762 min (€ 817 min in 1H 2023) = Backlog: € 2,106 min (€ 1,866 min in FY 2023) —~ = Deliveries: <> = One Marine Robotic Unit for Ocean Cao%) Infinity = One Fishery Unit f
Slide 29: Focus on Equipment, Systems & Infrastructure
1H 2024 Results Focus on Equipment, Systems & Infrastructure FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex Emin €min min = Orders: € 493 min (€ 382 in 1H 2023) = Backlog: € 2,743 min (€ 2,688 n FY 2023) 1H 2023 1H 2024 1H 2023 1H 2024 1H 2023 1H 2024 = Revenues at € 647 min (vs €
Slide 30: Safe harbour statement
1H 2024 Results FINCANTIER! Safe harbour 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
Slide 31: FINCANTIERI
FINCANTIERI