Slide 1: 2018 Nine Months Results
2018 NINE MONTHS RESULTS November 9, 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: 9M 2018 Key Messages
9M 2018 Key Messages • 9M 2018 results in line with Business Plan 2018-2022 targets: revenues up 8.5% vs 9M 2017 and EBITDA margin at 7.3% vs 6.5% in 9M 2017 (+11%) • Total backlog(1) at € 32.5 bln, almost 6.5 times 2017 revenues: − Backlog at € 26 bln (104 ships) up from € 20.3 bln in 9M 2017 − Sof
Slide 4: 9M 2018 main orders (1/2)
9M 2018 main orders (1/2) Orders acquired in Q3 Vessel Client Delivery 2 Cruise ships Viking Cruises 2022-2023 1 Cruise ship Silversea Cruises 2021 2 Cruise ships Norwegian Cruise Line 2026-2027 Shipbuilding 2 LNG Cruise ships TUI Cruises 2024-2026 1 Cruise ship Cunard Line 2022 1 Littoral Combat Sh
Slide 5: 9M 2018 main orders (2/2)
9M 2018 main orders (2/2) Orders acquired in Q3 2 Expedition cruise vessels Ponant 2020 1 Cable laying vessel Prysmian 2020 3 Offshore Patrol Vessels Norwegian Defence 2022-2024 Offshore Materiel Agency 1 Expedition cruise vessel Hapag-Lloyd Cruises 2021 2 Expedition cruise vessels Viking Cruises 20
Slide 6: 9M 2018 main deliveries
9M 2018 main deliveries Deliveries in Q3 Vessel Client Delivery Cruise ship “Carnival Horizon” Carnival Cruise Line Monfalcone (Carnival Corporation) Oceanographic vessel Institute of Marine Riva Trigoso - “Kronprins Haakon” Research Muggiano Cruise ship “Seabourn Ovation” Seabourn Cruise Line Sestr
Slide 7: Order intake and backlog – by segment
Order intake and backlog – by segment Order intake Total backlog(1) € mln € mln 1.5x 2.0x 5.7x 5.2x 6.5x 6,500 7,601 586 1,367 4,100 2,493 5,000 1,826 1,186 5,485 1,227 1,418 465 1,300 486 Backlog Backlog 25,966 Backlog 22,053 22,975 5,603 20,299 20,238 18,572 4,848 (314) (414) (800) (789) (869) 9M
Slide 8: Backlog deployment – by segment and end market
Backlog deployment – by segment and end market Shipbuilding Offshore Comments # ship deliveries(1) # ship deliveries • 27 units delivered in 9M 2018, 104 ships Cruise Naval(2) in backlog at September 30, 2018 • Cruise: 30 vessels 2018 4 1 5 2018 4 2 6 2018 19 13 32 − Deliveries up to 2027, thanks to
Slide 9: Revenues and EBITDA – by segment
Revenues and EBITDA(1) – by segment Revenues breakdown by segment(2) EBITDA and EBITDA margin € mln € mln 6.5% 7.3% 3,878 3,575 10.8% 458 281 9.6% 367 11.4% 52 19.3% 819 233 17.5% 666 11.0% 40 4.9% 33 2,959 270 72.9% 2,779 69.9% 9.1% 6.6% 184 (237) (24) -1.9% (16) (358) (25) 9M 2017 9M 2018 9M 2017
Slide 10: Shipbuilding
Shipbuilding Revenues Comments € mln 11 • Revenues: € 2,959 mln, up 6.5% vs 9M 2017 9 812 976 − Strong growth of volumes in naval (+20.2%) Other Shipbuilding − Progress of Italian Navy's fleet renewal program and first phase of production activities for the Qatari 2,779 2,959 Naval Ministry of Defen
Slide 11: Offshore
Offshore Revenues Comments € mln • Revenues: € 819 mln, up 22.9% vs 9M 2017 − Despite negative effect of NOK/EUR exchange rate (€ 31 mln) − Ongoing implementation of diversification strategy, which 819 generated an increase in production volumes especially in 666 Romanian yards • EBITDA: € (16) mln,
Slide 12: Equipment, Systems and Services
Equipment, Systems and Services Revenues Comments € mln • Revenues: € 458 mln, up 24.8% vs 9M 2017 − Thanks to the increased volumes of cabins and public areas and workload related to the Italian 458 Navy fleet renewal program and the Qatari Ministry 367 of Defense order • EBITDA: € 52 mln with marg
Slide 13: Net working capital and net debt
Net working capital and net debt(1) Breakdown by main components Comments € mln FY 2017 9M 2018 • Net working capital and net debt dynamics related to the production volumes in cruise and the receipt of Inventories and advances to the final installments for the cruise suppliers 835 842 ships deliver
Slide 14: Outlook
Outlook • 2018 results expected to be in line with 2018-2022 Business Plan targets Shipbuilding • Expected delivery of 3 units, of which 1 cruise ship and 2 naval vessels • Italian Navy’s fleet renewal program fully operational • First phase of production activities related to the Qatari order Offsh
Slide 15: 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 16: Q&A
Q&A FINCANTIERI The sea ahead