Fincantieri S.p.a. · MIL:FCT
Fincantieri — FY 2024 Earnings Presentation
32 slides from Fincantieri's earnings presentation, Mar 24, 2025
Slide 1: FY 2024 Results Presentation
FY°2024 Results Presentation March 24, 2025 FINCANTIERI www.fincantieri.com
Slide 2: Agenda
Slide 3: FY 2024 key highlights
FY 2024 Group Performance and FY 2025 Guidance FINCANTIERI FY 2024 key highlights Revenues EBITDA Net result Order intake NFP [ $+6.2% 7 +28.0% 7 +132.6% 7 [ -603 min 7,651 8,128 | 509 15,355 2,271 ] 397 1,668 7 |! | ofa eturn to _ Net Profit 1 6,600 27 11,2814 FY 2023 FY 2024 FY 2023 FY 2024 63) FY
Slide 4: Back to profit, exceeding all 2024 guidance targets
up Performance and FY 2025 Guidance FINCANTIERI Back to profit, exceeding all 2024 guidance targets (negative € 53 mln in FY 2023) FY 2024 Guidance 2024 € 8,128 min earn © Oo oe ~%» excl. ants se effect 4.5-5.0x oe € 27 min one year ahead 4 target
Slide 5: Record orders and total backlog securing more than 6 years of work
FY 2024 Group Performance and FY 2025 Guidance FINCANTIERI Record orders and total backlog securing more than 6 years of work FY 2024 . Record level, more than double FY 2023 Order intake! € 15.4 bn Book-to-bill 1.9x Backlog? € 31.0 bn +34.3% vs Fy 2023 Total backlog? € 5 1 . 2 bn 6.3x FY 2024 reven
Slide 6: FY 2025 Guidance
FY 2025 Guidance FY 2025 Guidance also including Remazel and WASS Revenues ~€9bn EBITDA margin > 7% NFP/EBITDA In line with 2024 NFP/EBITDA
Slide 7: Agenda
Slide 8: Business update
Business update Strong commercial pipeline driving order intake Cruise Four-cruise-ships order for NCL EVEL FREMM EVO frigates FINCANTIER! Ocean Energy Construction Vessel Major commercial agreements, further extending top line visibility Four new cruise ships for Norwegian Cruise Line brand ordered
Slide 9: Business update
Business update FINCANTIERI Backlo Total backlog! of € 51.2 bn, equal to 6.3x FY 2024 revenues? 8 Soft backlog? at € 20.2 bn, further supporting the commercial pipeline Shipbuilding — Cruise Shipbuilding — Naval Offshore and Specialized vessels ship deliveries ship deliveries ship deliveries 2024 [4
Slide 10: Agenda
Slide 11: Record orders of €15.4 bn exceeding twofold 2023
Financial results FINCANTIERI Record orders of €15.4 bn exceeding twofold 2023, book-to-bill at 1.9x Order intake breakdown by segment (Emin) Hishipbuilding MlOffshore and Specialized vessels HB Equipment, Systems and Infrastructure Eliminations Shipbuilding at € 13.2 bn = 6 new generation cruise sh
Slide 12: Record-high total backlog of € 51.2 bn
Financial results FINCANTIERI Record-high total backlog of € 51.2 bn, covering 6.3x 2024 revenues Total backlog! breakdown by segment Emin Mishipbuilding Eliminations HE Equipment, Systems and Infrastructure ‘Soft backlog, excl. DPP programs « Total backlog at € 51.2 bn, approximately 6.3 times FY 2
Slide 13: Revenues at € 8.1 bn, up 6.2% YoY
Financial results Revenues at € 8.1 bn, up 6.2% YoY Revenues breakdown by segment!.2 and (%) of total revenues FINCANTIER! (€ min) Hicruise Bi Naval HE Equipment, Systems and Infrastructure Ship Interiors Hl Offshore and Specialized vessels Eliminations Shipbuilding} 6,129} (73.9%)| Shipbuilding} 5,
Slide 14: EBITDA up 28%, with margin at 6.3%
Financial results FINCANTIERI EBITDA up 28% to € 509 min, with margin at 6.3% (+110 bps YoY) EBITDA breakdown by segment!.2 can Mishipbuitding MiOfishore and Specialized vessels PWD Shipbuilding EBITDA at € 396 min, with growing margin at HE Equipment, Systems and Infrastructure Eliminations \------
Slide 15: Return to Net Profit, one year ahead of Business Plan target
Financial results Return to Net Profit, one year ahead of Business Plan target Bridge EBITDA to Net Result (€ min) (263) (178) (18) ; a EBITDA D&A EBIT Financial Inc/Exp Taxes Adjusted Net Result Extraordinary items Tax effect Net Income Inc/Exp from investments Returned to Net Profit with positive
Slide 16: Deleveraging well ahead of Plan
Financial results FINCANTIER! Deleveraging well ahead of Plan, with further improvements expected Net Financial Position! Debt maturity profile (as of Dec 31, 2024) (€ min) (2,271) (1,281) (1,645) (1,779) FY 2023 FY 2024 Mi Current financial receivables (Micurrent debt? MiCash and cash equivalent No
Slide 17: Agenda
Slide 18: Fincantieri as orchestrator of the Underwater ecosystem
Underwater opportunity for Fincantieri FINCANTIER! Fincantieri as orchestrator of the Underwater ecosystem, integrating capabilities and know-how of different players Fincantieri’s strategy = Taking on the role of orchestrator for the Italian underwater ecosystem pursuing a partnership strategy with
Slide 19: Growth opportunities in subsea through Remazel and WASS acquisitions
Underwater opportunity for Fincantieri Strong growth opportunities in the subsea domain through the acquisition of Remazel and WASS Company Expertise Strategic Rationale Date of Completion FINCANTIER! &® REMAZEL ENGINEERING WASS SUBMARINE SYSTEMS DFINCARTIERI Company Global leader in the design and
Slide 20: Agenda
Slide 21: Concluding remarks: greater visibility and long-term growth
Concluding remarks FINCANTIER! Greater visibility and long-term growth, driven by strong market demand and favorable macro trends, exceeding Plan assumptions Cruise Naval Rapidly evolving international geopolitical landscape expected to open new scenarios, with significant growth opportunities for t
Slide 22: Concluding remarks
Concluding remarks FINCANTIERI Concluding remarks = Continued outperformance on the Business Plan with profitable growth ensuring Net Profit = Uniquely positioned investment story, underpinned by clear strategic initiatives, to deliver long-term growth, improved margin and increasing cash flows = St
Slide 23: Q&A
Slide 24: Investor Relations contacts
FY 2024 Results Investor Relations contacts INSTITUTIONAL INVESTORS investor.relations@fincantieri.it INDIVIDUAL SHAREHOLDERS azionisti.individuali@fincantieri.it FINCANTIER!
Slide 25: Appendix
Slide 26: Greater visibility and long-term growth, driven by strong market demand
Appendix FINCANTIERI Greater visibility and long-term growth, driven by strong market demand and favorable macro trends, exceeding Plan assumptions = 2024 showed a significant recovery in demand for cruise ships, affecting all segments from luxury to mainstream large ships: for ships over 10,000 gro
Slide 27: Innovation Inclusion Integrity
Innovation Inclusion Integrity
Slide 28: Focus on Shipbuilding
‘Appendix Focus on Shipbuilding Orders, backlog and deliveries Revenues EBITDA Capex FINCANTIER! = Orders: € 13,194 min (€ 4,148 min in FY 2023) = Backlog: € 26,497 min (€ 18,908 min in FY 2023) = Deliveries: = «Sun Princess» for Princess Cruises (Carnival Group) = «Queen Anne» for Cunard = «Explora
Slide 29: Focus on Offshore and Specialized vessels
Appendix Focus on Offshore and Specialized vessels Orders, backlog and deliveries Revenues EBITDA FINCANTIER! Capex (Emin) (€ min) = Orders: € 1,555 min (€ 1,801 min in FY 2023) = Backlog: € 2,192 min (€ 1,866 min in FY 2023) <> = Deliveries: — = Two CSOVs for Norwind Offshore One SOV for Norwind Of
Slide 30: Focus on Equipment, Systems and Infrastructure
‘Appendix Focus on Equipment, Systems and Infrastructure FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex Emin Emin) — Emin = Orders: € 1,389 min (€ 1,050 in FY CO 6.9% 2023) Xen = Backlog: € 3,001 min (€ 2,688 n FY 2023) 1,498 103 35 1,100 28 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023
Slide 31: Safe harbour statement
Appendix FINCANTIERI 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," inte
Slide 32: FINCANTIERI
FINCANTIERI