Slide 1: 9M 2021 Results
9M 2021 R ESULTS November 12, 2021 www.fincantieri.com
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: Agenda
Agenda S U M M A R Y & B U S I N E S S U P D AT E F I N A N C I A L R E S U LT S OUTLOOK APPENDIX
Slide 4: Summary & Business Update
SUMMARY & BUSINESS UPDATE FINCANTIERI The sea ahead
Slide 5: Executive summary
Executive summary Revenues up by 28% and EBITDA +65%, Backlog at €36 bn, 2021 guidance fully confirmed Revenues (€ mln) REVENUES EXCLUDING PASS-THROUGH 4,536 4,771 ▪ FY 2021 guidance fully confirmed with revenues expected to reach +25-30% YoY and 3,534 ACTIVITIES +28.3% YOY EBITDA margin over 7% ▪ T
Slide 6: Business update
Business update Positive business operating performance across all segments CRUISE ▪ Sound operating performance with 4 units delivered in 3Q: - Valiant Lady, the second of four ships ordered by Virgin Voyages - MSC Seashore, the largest cruise ship ever built in Italy - Rotterdam, third unit of the
Slide 7: Sustainable strategy
Sustainable strategy Tireless effort to become a model of excellence E S G A WARDS G REEN FINANCE • Range “Advanced” and #1 among its • Group’s first trade finance credit line to peers in 2021 support the construction of custom-built • Score A- and Leader score (A) in the green cable layer for a Van
Slide 8: New orders and main deliveries
New orders New orders across all segments amount to € 2.3 bn Segment Vessel Client Expected Delivery ◼ Shipbuilding FFG-62 frigate US Navy Beyond 2025 Somnio Somnio Superyachts 2024 ◼ Offshore & 3 Service Operation Vessels North Star Renewables 2023 Specialized Vessels 2 Service Operation Vessels(1)
Slide 9: Backlog deployment
Backlog deployment Well-balanced visibility both in Cruise and Naval, 4 new orders in Offshore and Specialized Vessels in 3Q Shipbuilding Offshore & Specialized Vessels # ship deliveries # ship deliveries CRUISE 2021 6 2 8 NAVAL 2021 4 4 8 OSV 2021 3 1 4 31 VESSELS 2022 7 36 VESSELS (1) 2022 9 25 VE
Slide 10: Financial Results
FINANCIAL RESULTS FINCANTIERI The sea ahead
Slide 11: Order intake and backlog
Order intake and backlog Solid order intake and hefty soft backlog Order intake breakdown by segment Total backlog breakdown by segment(1) ▪ No orders cancellation € mln € mln 0.5x 0.5x 6.3x 6.9x 6.9x ▪ Sizeable order intake at € 2.3 bn, thanks to the positive impact of Offshore & Special Vessels an
Slide 12: Revenues
Revenues Revenue growth in line with 2021 guidance, with positive contribution across all segments Revenues breakdown by segment(1) € mln +28.3% 4,771 Revenues excluding pass-through activities are up 4,536 764 28.3% YoY thanks to record-high production 764 volumes in the 9M 2021 (12.3 mln productio
Slide 13: EBITDA
EBITDA Remarkable increase in volumes and margins EBITDA breakdown by segment(1) € mln +65.0% EBITDA margin at 7.3% excluding pass-through activities mainly thanks to the positive contribution from Shipbuilding despite the impact 5.7% 7.3% 6.9% from increased steel prices 330 330 ◼ Shipbuilding EBIT
Slide 14: EBITDA growth
EBITDA growth Better operating margin thanks to higher production volumes and improved margins EBITDA breakdown by segment ◼ Shipbuilding: EBITDA improvement driven by higher production volumes and improved operating margin ◼ Offshore and Specialized Vessels: increased EBITDA thanks to higher operat
Slide 15: Capex
Capex Significant investments creating further efficiencies in engineering and production scenarios Capex by segment ▪ Capex up 50% vs 9M 2020 to support € mln 4.9% 5.7% shipyards upgrade and further efficiencies to address new productive scenarios 258 16 ▪ Investments breakdown as follows: 20 - Int
Slide 16: Net working capital and net financial position
Net working capital and net financial position NFP in line with expectations with 2 cruise units to be delivered in 4Q Net Working Capital breakdown by component Net Financial Position breakdown by component(1) € mln € mln ▪ NWC negative at €398 mln, - € 196 mln vs 881 FY 2020, mainly due to the del
Slide 17: Outlook
OUTLOOK FINCANTIERI The sea ahead
Slide 18: Update on cruise
Update on cruise Around 57% of the global fleet in service with 65 brands already operating by the end of October ▪ The Conditional Sailing Order will expire in January 2022; After January 15, CDC will transition to a voluntary program in coordination with cruise ship operators CRUISE ▪ Pent up dema
Slide 19: Business outlook
Business outlook Confirmed FY 2021 guidance E XPECTED FINANCIAL PERFORMANCE IN 2 0 2 1 • Revenues +25%-30% YoY and EBITDA margin over 7.0% despite the surge in commodity and energy prices • FY 2021 net debt to be in line with FY 2020 levels M E D I U M T O L O N G T E R M E X P E C TAT I O N S • Bac
Slide 20: Investor Relations contacts
Investor Relations contacts I N V E S TO R R E L AT I O N S T E A M Paola Dimario +39 040 319 2279 paola.dimario@fincantieri.it Caterina Venier-Romano +39 040 319 2229 caterina.venierromano@fincantieri.it Martina Saiu +39 040 319 2672 martina.saiu@fincantieri.it INSTITUTIONAL INVESTORS investor.rela
Slide 21: Q&A
Q&A FINCANTIERI The sea ahead
Slide 22: Appendix
APPENDIX FINCANTIERI The sea ahead
Slide 23: Financial overview – Shipbuilding
Financial overview – Shipbuilding Orders, backlog and deliveries Revenues EBITDA Capex € mln € mln € mln ▪ Orders: €1,366 mln (€1,406 mln in 1,140 1,375 6.2% 7.6% 7.2% 9M 2020) 837 - Residential yacht Somnio 3,989 4,224 - Second Constellation-class frigate 3,104 2,849 2,849 to the US Navy 2,267 303
Slide 24: Financial overview – Offshore & Specialized Vessels
Financial overview – Offshore & Specialized Vessels Orders, backlog and deliveries Revenues EBITDA Capex € mln € mln € mln ▪ Orders: €382 mln (€186 mln in 9M 0.0% 2.0% 2020) ▪ Backlog: €995 mln (€712 mln in 9M 2020) 271 313 6 ▪ Deliveries(1): 0 2 3 9M 2020 9M 2021 9M 2020 9M 2021 9M 2020 9M 2021 - 1
Slide 25: Financial overview – Equipment, Systems & Services
Financial overview – Equipment, Systems & Services Orders, backlog and deliveries Revenues EBITDA Capex € mln € mln € mln 6.3% 6.9% ▪ Orders: €822 mln including new MSC cruise terminal at PortMiami (vs €480 mln in 9M 2020) 764 21 20 591 ▪ Backlog: €3,515 mln vs € 1,795 mln in 52 37 9M 2020 9M 2020 9