Slide 1: FY 2023 Results
FY'20 esults March 8, 2024 FINCANTIERI www. fincantieri.com
Slide 2: Manager declaration pursuant to art. 154-bis
Pursuant to art. 154-BIS, par. 2, of the Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at Fincantieri, Felice Bonavolontà, declares that the accounting information contained herein correspond to document results, books and account
Slide 3: Agenda
Slide 4: Financial Targets Overachieved
FY 2023 Financial Targets Overachieved Guidance 2023 Revenues EBITDA margin NFP/EBITDA ~€7.6bn ~5.0 % 7 .O-7.5x FINCANTIERI € 7.7 bn (1) 52% 5.7X Q)
Slide 5: Key Highlights
FY 2023 Key Highlights FINCANTIER! FY 2023 Net Result Adj. Cash Generation Order Intake almost at breakeven, € -7 min 2 years ahead of plan € 201 min € -672 min in 2022 € 6.6 bn +23.9% YoY
Slide 6: Highlights
FY 2023 Results FY 2023 Highlights FINCANTIER! Revenues EBITDA Order intake NFP 6,600 397 u 5,328 2S) 2,271 221 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 Solid top line growth with revenues at € 7,651 mln, up by 2.8% vs FY 2022 EBITDA at € 397 min, up 79.9% vs FY 2022, with EBI
Slide 7: Guidance 2024
FINCANTIERI Guidance 2024 New Guidance 2024 FY 2024 Guidance Revenues ~€8bn V4 EBITDA margin ~ 6.0% SA NFP/EBITDA 6.0-7.0x = 5.5-6.5x o)
Slide 8: Agenda
Slide 9: Cruise: orders sustained by market recovery
FY 2023 Results FINCANTIER! Cruise: orders sustained by market recovery and opportunities to lead the digital and green transition Market context Cruise performance underpinned by the rebound of the cruise industry's long-term growth path and the entry of new clients in the ultra-luxury sector Cruis
Slide 10: Naval: acceleration underpinned by increasing focus on defence spending
FY 2023 Results FINCANTIER! Naval: acceleration underpinned by increasing focus on defence spending Market context Given the current geopolitical scenario, demand from the Italian and US Navy is expected to grow Italian Navy US Navy Other deals Orders = Third submarine of the U212 Near Future Submar
Slide 11: Offshore: market leader in order book for SOV and CSOV
FY 2023 Results Offshore: market leader in order book for the construction of SOV and CSOV Offshore wind activity is expected to further accelerate from 2028 thanks to an unprecedented institutional Market context oe : support for green transition, a favorable market growth scenario and renewed acti
Slide 12: Solid order book with strong visibility up to 2030
FY 2023 Results FINCANTIER! Solid order book with strong visibility up to 2030 Backl Total backlog of € 34.8 billion, equal to 4.5x 2023 revenues Soft Backlog at € 11.7 billion, further supporting the commercial pipeline (1.5x 2023 revenues) Shipbuilding — Cruise Segment Shipbuilding — Naval Segment
Slide 13: Agenda
Slide 14: Strong order intake with a book to bill at 0.9x
FY 2023 Results Strong order intake with a book to bill at 0.9x Order intake breakdown by segment FINCANTIER! (Emin = Order intake at € 6.6 bn with strong contribution from Offshore and from Book-to-bill! Defence business = Book to bill at 0.9x Shipbuilding at € 4.1 bn = 3 Cruise2: two new hydrogen
Slide 15: 2023 total backlog covers 4.5x 2023 revenues
FY 2023 Results FINCANTIER! 2023 total backlog covers 4.5x 2023 revenues Total backlog! breakdown by segment (€ min) Total backlog at € 34.8 bn, approximately 4.5 times 2023 revenues Backlog at € 23.1 bn (€ 23.8 bn as of December 31, 2022), with 85 units in portfolio, confirming the delivery plan up
Slide 16: Revenues at € 7,651 mln, up 2.8% YoY
FY 2023 Results FINCANTIER! Revenues at € 7,651 min, up 2.8% YoY Revenues breakdown by segment! ie min) Hicruise Hinavai Ship Interiors J Offshore & Specialized Vessels Shipbuilding revenues at € 6,129 mln (73.9% of total revenues), HB Equipment, Systems & Infrastructure Eliminations down by 3.8% Yo
Slide 17: EBITDA up 80% YoY, margin at 5.2%
FY 2023 Results FINCANTIER! EBITDA up 80% YoY to € 397 min, margin at 5.2% EBITDA breakdown by segment! mind Hishipbuilding Hi offshore & Specialized Vessels Hlequipment, Systems & Infrastructure Eliminations sien, ae at € 367 min with EBITDA margin at 6.0% eos Margin (3.0% 9 . ’ Offshore & Speciali
Slide 18: Net result improving vs FY 2022
FY 2023 Results Net result improving vs FY 2022 Bridge EBITDA to Net Results (€ min) (236) 397 EBITDA D&A EBIT Net financial expenses. Taxes Extraordinary items Tax effect Net result Net result negative at € 53 min but significantly improving vs FY 2022 (negative at € 324 min in FY 2022) mainly due
Slide 19: Net debt at € 2,271 mln, Net debt/EBITDA halved YoY
FY 2023 Results FINCANTIER! Net debt at € 2,271 min, Net debt/EBITDA halved YoY Net Financial Position! bridge FY 2022 to FY 2023 Net Working Capital’ breakdown mind Emin) (2,694) (2,471) (125) (2,531) (191) (237) FY 2022 FY 2023 NFP 2022 Cash and Current financial Current Non current cash equivalen
Slide 20: 2024 maturities already refinanced
2024 maturities already refinanced ▪ ▪ ▪ ▪ ▪
Slide 21: Agenda
Slide 22: Cruise rebound of the industry's long-term growth path
sults FINCANTIER! Cruise rebound of the industry's long-term growth path and rising interest in green and tech products 2023 full recovery Gap between supply and demand of vessels expected starting from 2027, foreseeing a revamp of new orders from 2024 Net carbon neutrality Neutrality by 20508 and 4
Slide 23: Naval: Domestic & EU scenarios
Domestic & EU scenarios 1. Global Defence Budget, Jane's, 2! National Center for the Underw: Geopolitical tensions worldwide Geopolitical context and foreign policy impacting industrial Defence sector and demand for larger fleets with more advanced technological requirements Polo Nazionale della Dim
Slide 24: Offshore: underlying drivers supporting long-term growth
FY 2023 Results FINCANTIER! Offshore: underlying drivers supporting long-term growth are confirmed, especially for the floating sector Offhose wind market at Outlook for next years Acceleration of offshore wind from 2028 Unprecedented governmental support for green transition, simplification of auth
Slide 25: ESG: main results achieved
FY 2023 Results FINCANTIER! ESG: main results achieved Ratings and scores Awards Fincantieri included | in Sustainalytics’ list of “Top-Rated ESG Companies" Fincantieri confirmed in the Wepp Al (D>A) S&P Global 592 (0>100) Qanmnee 14.23 RATED | (low risk) (4070) 5 . 694 Moopy’s | ESG Solutions advan
Slide 26: Agenda
Slide 27: The underwater domain is composed by a complex set of activities, players and technologies
The underwater domain is composed by a complex set of activities, players and technologies
Slide 28: Underwater is gaining traction due to the geopolitical scenario
FY 2023 Results FINCANTIER! Underwater is gaining traction due to the geopolitical scenario and critical role of subsea infrastructure = Mediterranean Sea increasingly under threat of security being crossroad between three continents Significant economic (20% of maritime traffic) and social flows in
Slide 29: Laying the foundations in the underwater dimension
FY 2023 Results FINCANTIER! Laying the foundations in the underwater dimension 2023 Fincantieri accelerated its journey to strengthen its positioning in the underwater space, acting as an aggregator and catalyst in civil and defence fields January — June July — November December 2024 = Award for the
Slide 30: Agenda
Slide 31: Concluding remarks
FY 2023 Results Concluding remarks FINCANTIER! = FY 2023 results highlight solid top line growth at € 7.7 bn, margins above guidance at 5.2% and accelerated deleveraging vs business plan with net debt/EBITDA at 5.7x = Deleveraging ahead of schedule over the Business Plan period = Management fully fo
Slide 32: Q&A
Slide 33: Investor Relations contacts
FY 2023 Results FINCANTIER! Investor Relations contacts INSTITUTIONAL INVESTORS investor.relations@fincantieri.it INDIVIDUAL SHAREHOLDERS azionisti.individuali@fincantieri.it
Slide 34: Appendix
Slide 35: On track with key strategic projects (I/II)
FY 2023 Results On track with key strategic projects underpinning the pillars of the 2023-2027 Business Plan (I/II) FINCANTIER! , Operations nine eae Whole Warship Cruise digital Energy Grojects excellence LSS STS IT Integration offering transition partnering Key goals 2023 Vv Vv Vv ~v v4 ns = Conti
Slide 36: On track with key strategic projects (II/II)
FY 2023 Results FINCANTIER! On track with key strategic projects underpinning the pillars of the 2023-2027 Business Plan (II/II) 5 Marine VARD Procurement SG&A and Brojects Interiors business model excellence SLT oS Industrial Governance Key goals 2023 Vv Vv Vv v4 v4 ns = Implement digital tools = C
Slide 37: Focus on Shipbuilding
FY 2023 Results Focus on Shipbuilding FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex (€ min) (€ min) (Emin) = Orders: € 4,148 min (€ 3,765 min in FY 2022) = Backlog: € 18,908 min (€ 20,425 6,373 6.129 min in FY 2022) ’ _ NN «ne pay ( 6.0% = Deliveries: C 53% ) Yee, = Viking Saturn
Slide 38: Focus on Offshore
FY 2023 Results FINCANTIER! Focus on Offshore Orders, backlog and deliveries Revenues EBITDA Capex (€ min) (€ min) (€ min) = Orders: € 1,801 min (€ 837 min in FY 2022) = Backlog: € 1,866 min (€ 1,160 min in FY 2022) = Deliveries: Cae) = Two coast guard vessels for the Norwegian Coast Guard ~ Cx) — =
Slide 39: Focus on Equipment, Systems & Infrastructure
FY 2023 Results FINCANTIER! Focus on Equipment, Systems & Infrastructure Orders, backlog and deliveries Revenues EBITDA Capex (€ min) (€ min) (€ min) = Orders: € 1,050 min (€ 926 in FY 2022) = Backlog: € 2,688 min (€ 2,535 in FY 2022) FY 2022 FY 2023 FY 2022 FY 2022 FY 2023 = Revenues at € 1,100 min
Slide 40: Fincantieri
FINCANTIERI