Slide 1: 2019 First Quarter Results
2019 FIRST QUARTER RESULTS May 10, 2019
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 2019 Key Messages
Q1 2019 Key Messages Revenues up 13%, orders at € 6.5 bln with 11 cruise vessels, total backlog at € 34.3 bln • Total order intake at € 6.5 bn: − Record order acquisition of 11 cruise ships for 5 different brands (Oceania, Regent Seven Seas Cruises, Viking, MSC, Princess) Order intake − 1 Littoral C
Slide 4: Q1 2019 main orders and main deliveries
Q1 2019 main orders Segment Vessel Client Number of ships Expected Delivery Oceania Cruises 2 2022-2025 Regent Seven Seas Cruises 1 2023 Cruise Ships Viking Cruises 2 2024-2025 Shipbuilding MSC Cruises 4 2023-2026 Princess Cruises 2 2023-2025 Littoral Combat Ship US Navy 1 2023 Offshore & Specialize
Slide 5: Overview of Q1 2019 main deliveries
Overview of Q1 2019 main deliveries Viking Jupiter Costa Venezia LCS 15 “Billings” OSCV: Topaz “Tangaroa” and “Tiamat” OSCV: “Skandi Olinda” (Dofcon Navegação) 5
Slide 6: Order intake and backlog
Order intake and backlog Breakdown by segment Order intake Total backlog(1) € mln € mln 5.5x 6.2x 6.3x 0.9x 4.7x 4.3x 4.7x 5.6x 6,455 33,824 34,342 168 39 8,300 3,600 • Total order intake for the quarter 1,607 27,730 € 6.5 bln 920 5,900 1,638 • Record order acquisition in 987 1,196 cruise business a
Slide 7: Backlog deployment
Backlog deployment Breakdown by segment and end market Shipbuilding Offshore & Specialized Vessels # ship deliveries(1) # ship deliveries(1) Cruise Naval(2) • 8 units delivered in Q1 2019 and 104 ships in backlog 2019 2 6 8 2019 1 2 3 2019 5 17 22 • Cruise: 50 vessels − Deliveries up to 2027 2020 8
Slide 8: Revenues
Revenues Revenues breakdown by segment(1) € mln 1,385 • Revenues up 13% vs Q1 2018 at 1,226 1,226 11.3% 170 € 1,385 mln 12.6% 167 12.4% 167 14.9% 224 18.4% 11.5% 155 − Shipbuilding revenues up 8.8% vs 245 Q1 2018 − Offshore & Specialized Vessels 73.8% 1,113 revenues up 44.5% vs Q1 2018 69.0% 76.1% 1
Slide 9: EBITDA
EBITDA EBITDA(1) and EBITDA margin € mln 7.3% 7.3% 6.5% • EBITDA at € 90 mln (€ 89 mln in 90 Q1 2018), EBITDA margin at 6.5% 89 89 (7.3% in Q1 2018) 9.2% 15 9.2% 15 10.3% 18 3.5% 9 11.4% 18 • Trend substantially resulting from: − Positive performance of the Shipbuilding and the Equipment, 8.0% 6.3%
Slide 10: Net working capital and net debt
Net working capital and net debt(1) Breakdown by main components € mln FY 2018 Q1 2019 Inventories and advances to suppliers 881 813 • Net working capital and Net debt Work in progress net of advances from customers dynamics mirror: 936 1,064 − The increase in production Trade receivables volumes 74
Slide 11: Outlook
Outlook • 2019 results expected to be in line with 2018 and consistent with 2018-2022 Business Plan guidelines ‒ Growth trend for revenues with an EBITDA margin confirmed to be in line with 2018 ‒ Expected increase in net debt due to working capital financing needs Shipbuilding • Delivery of 8 addit
Slide 12: Investor Relations contacts
Investor Relations contacts Investor Relations Team Tijana Obradovic – Head of Investor Relations +39 040 319 2409 tijana.obradovic@fincantieri.it Emanuela Cecilia Salvini +39 040 319 2614 emanuelacecilia.salvini@fincantieri.it Marco Pesaresi +39 040 319 2663 marco.pesaresi2@fincantieri.it Instituti
Slide 13: Q&A
Q&A FINCANTIERI The seo ahead a
Slide 14: Appendix
Appendix FINCANTIER! =
Slide 15: Financial overview - Shipbuilding
Financial overview - Shipbuilding Revenues € mln 1 5 291 5 292 292 • Revenues: € 1,113 mln (+8.8% vs Q1 2018) 1,023 1,113 − Increase due to higher volumes in cruise 916 Other Shipbuilding 726 821 619 Naval • EBITDA: € 83 mln, with margin at 7.4% Cruise − Benefiting from construction of higher margin
Slide 16: Financial overview – Offshore & Specialized Vessels
Financial overview – Offshore & Specialized Vessels Revenues € mln 245 • Revenues: € 224 mln (+44.5% vs Q1 2018) 224 155 − Increased production of specialized vessels as a result of the diversification strategy − Sub-optimal utilization of the production capacity Q1 2018 Q1 2018 Q1 2019 Reported Res
Slide 17: Financial overview - Equipment, Systems and Services
Financial overview - Equipment, Systems and Services Revenues € mln 170 167 167 • Revenues: € 170 mln, up 1.8% vs Q1 2018 Q1 2018 Q1 2018 Q1 2019 Reported Restated − Revenues in line with the same period of 2018 EBITDA − Includes the start of activities related to the orders € mln acquired in the in