Slide 1: 2019 Nine Months Results
2019 NINE MONTHS RESULTS November 8, 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: 9M 2019 Key Messages
9M 2019 Key Messages Revenues up 10% and total backlog at € 32 bln with deliveries up to 2027 • Revenues up 9.7% at € 4.3 bln (€ 3.9 bln in 9M 2018) • EBITDA at € 287 mln (€ 281 mln in 9M 2018) and EBITDA margin at 6.7% (7.3% in 9M 2018): Shipbuilding +30.2% (despite negative contribution of Vard Cr
Slide 4: 9M 2019 main orders and main deliveries
9M 2019 main orders Segment Vessel Client # 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 & Specialized Exp
Slide 5: Overview of 9M 2019 main deliveries
Overview of 9M 2019 main deliveries Viking Jupiter Costa Venezia LCS 15 Billings FREMM Marceglia Shipbuilding Ponant Le Dumont d'Urville Ponant Le Bougainville Hapag-Lloyd Hanseatic Nature LCS 17 – USS Indianapolis Offshore & Specialized Vessels OSCV Topaz (x2) OSCV Skandi Olinda (DOF) Coral Adventu
Slide 6: Order intake and backlog
Order intake and backlog Breakdown by segment Order intake Total backlog(1) € mln € mln 6.5 x 6.2 x 5.9 x 2.0 x 1.6 x 5.2 x 4.7 x 5.2 x 32,466 33,824 32,274 7,601 8,300 6,811 6,500 3,900 586 1,525 1,367 • Total order intake for the 869 424 1,638 836 94 1,087 987 quarter € 6.8 bln, mainly coming from
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) • 18 units delivered in 9M 2019 2019 5 3 8 2019 3 3 2019 10 8 18 and 96 ships in backlog • Cruise: 47 vessels − Deliveries up to 2027 2020 8 8
Slide 8: Revenues
Revenues Revenues breakdown by segment(1) € mln 4,254 3,878 3,878 12.5% 582 10.8% 458 10.8% 458 8.4% - 392 16 11.2% 475 19.3% 819 11 • Revenues up 9.7% vs 9M 2018 11 1,083 − Shipbuilding revenues up 11.1% 976 vs 9M 2018 976 79.1% 3,686 − Offshore & Specialized Vessels 78.0% 3,318 revenues down 17.5%
Slide 9: EBITDA
EBITDA EBITDA(1) and EBITDA margin € mln 6.7% 7.3% 7.3% 287 • EBITDA at € 287 mln, EBITDA margin at 6.7% (7.3% in 9M 2018) 281 281 9.5% 55 − Positive performance of the 11.4% 52 Shipbuilding (+30.2% vs 9M 11.4% 52 2018), despite the adverse contribution of Vard Cruise projects due to the revision of
Slide 10: Deep – dive: Vard
Deep – dive: Vard Ongoing integration and alignment to Group best practices What we did What we are working on Vard full integration process: Delisting of the subsidiary in December 2018 Change in management Additional efforts to align industrial management Operational reorganization of bo
Slide 11: Net working capital and net debt
Net working capital and net debt(1) Breakdown by main components € mln FY 2018 9M 2019 Inventories and advances to suppliers 863 • Net working capital and Net debt Work in progress net of dynamics mirror: advances from customers 881 1,399 − The increase in production volumes and cruise delivery Trad
Slide 12: Outlook
Outlook • Positive Group performance related to the propitious dynamics of cruise and naval projects across all geographies, limited by negative performance of Vard both in cruise and offshore • Efforts to align industrial management systems and economic planning of Vard to the best practices of the
Slide 13: 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 Institutional Investors investor.relations@fincantieri.it Individual Sha
Slide 14: Q&A
Q&A FINCANTIERI The seo ahead a
Slide 15: Appendix
Appendix FINCANTIER! =
Slide 16: Financial overview - Shipbuilding
Financial overview - Shipbuilding Revenues € mln • Revenues: € 3,686 mln (+ 11.1% vs 9M 2018) 16 11 1,083 − Higher volumes in Cruise driven by the construction of 11 976 bigger and more valuable vessels 976 − Good progress of production activities in naval 3,318 3,686 Other Shipbuilding 2,959 2,331
Slide 17: Financial overview - Offshore & Specialized Vessels
Financial overview - Offshore & Specialized Vessels Revenues € mln • Revenues: € 392 mln (vs € 475 in 9M 2018) − Volume contraction related to the lack of order intake in the core sector 819 475 • EBITDA: € (75) mln, with margins at -19.3 % 392 − Impacted by the review of estimated costs at completi
Slide 18: Financial overview - Equipment, Systems and Services
Financial overview - Equipment, Systems and Services Revenues € mln 582 • Revenues: € 582 mln, up 27.1% vs 9M 2018 458 458 − Positive impact of the backlog related to naval contracts and higher volumes in ship repairs and conversion 9M 2018 9M 2018 9M 2019 − Include the contribution from the activit