Slide 1: 1Q 2021 Results
1Q 2021 R ESULTS May 14, 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 E C O N O M I C A N D 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 Year-end guidance confirmed, increased revenues and profitability in 1Q 2021 Year-end targets confirmed Guidance for 2021 confirmed: revenues excluding pass-through activities +25%-30%, EBITDA margin at 7%, and net financial position flat YoY. First quarter performance confirms t
Slide 6: Business update
Business update Leveraging our core competencies, while expanding our strategic capabilities… Delivery schedule carried on as expected CRUISE Viking Venus, the first out of five cruise ships to be delivered from Italian shipyards this year, was successfully handed over to Viking on April 15th in
Slide 7: Business update
Business update …and gearing up to become a key player within the missions set by the Recovery Plan D I G I TAL Cloud computing: A cooperation agreement was signed with Amazon Web Services to accelerate digital innovation and T R A N S F O R M AT I O N technological development at national level,
Slide 8: Events: new orders and deliveries in the quarter
Events 3 new orders in wind offshore and 2 deliveries in the quarter New orders Segment Vessel Client Expected Delivery Offshore & 3 Service Operation Vessels North Star Renewables 2023 Specialized Vessels Deliveries Segment Vessel Client Shipyard Shipbuilding LSS “Vulcano” Italian Navy Muggiano
Slide 9: Backlog deployment
Backlog deployment Fully preserved order backlog with visibility stretching up to 2029 in Naval Shipbuilding Offshore & Specialized Vessels # ship deliveries # ship deliveries CRUISE 2021 7 NAVAL 2021 1 7 8 2021 1 3 4 2022 8 2022 9 2022 11 2023 9 2023 5 2023 5 3 8 2024 5 2024 6 2024 1 2025 5 2025 5
Slide 10: Economic and Financial Results
E CONOMIC AND F INANCIAL R ESULTS
Slide 11: Order intake and backlog
Order intake and backlog Order intake is still limited but long-term visibility is confirmed Order intake breakdown by segment Total backlog breakdown by segment(1) € mln € mln 5.5x 6.1x 6.6x 0.2x 0.2x 4.7x 4.7x 5.1x 35,681 34,436 Limited order intake in 31,878 Shipbuilding with a wait-and-see 7,9
Slide 12: Revenues
Revenues Top-line growth on the right track: full swing of production programmes driving revenues up 9.1% YoY Revenues breakdown by segment(1) € mln 1,648 232 1,426 1,307 Revenues excluding pass-through activities up 96 232 205 96 9.1% YoY thanks to resumption of operations 126 574 and full swing of
Slide 13: EBITDA
EBITDA Operating profitability at 7.0% is in line with 4Q 2020 performance and 2021 guidance EBITDA breakdown by segment(1) € mln Significantly improved profitability on track with previous quarter positive 5.5% 6.1% 7.0% performance and guidance for 2021 Shipbuilding up 39% YoY with 101 101 margi
Slide 14: Net working capital and net financial position
Net working capital and net financial position NWC and net debt increase are consistent with the delivery schedule: deleveraging expected by year-end Net Working Capital breakdown by component Net Financial Position € mln € mln 904 881 2,775 1,963 602 580 111 51 Net debt mirrors net working capita
Slide 15: Outlook
OUTLOOK FINCANTIERI The sea ahead
Slide 16: 2021 Company outlook
2021 Company outlook In the US, the CDC may reportedly be open to lift or modify the Conditional Sailing Order - in Europe cruise operations are about to be resumed starting from late spring/early summer Strong 2022 booking volumes for cruises are ahead of pre COVID-19 levels and are driven by p
Slide 17: Investor Relations contacts
Investor Relations contacts I N V E S T O R R E L AT I O N S T E A M Caterina Venier-Romano +39 040 319 2229 caterina.venierromano@fincantieri.it Valentina Fantigrossi +39 040 319 2243 valentina.fantigrossi@fincantieri.it INSTITUTIONAL INVESTORS investor.relations@fincantieri.it INDIVIDUAL SHAREHOLD
Slide 18: Fincantieri: The sea ahead
FINCANTIERI The sea ahead
Slide 19: Appendix
APPENDIX FINCANTIERI The sea ahead
Slide 20: Financial overview – Shipbuilding
Financial overview – Shipbuilding Orders, backlog and deliveries Revenues EBITDA Capex € mln € mln € mln 6.3% 6.7% 7.8% Orders: €101 mln (€83 mln in 1Q 2020) 574 352 303 Backlog: €24,695 mln (€25,857 1,500 1,133 1,278 mln in 1Q 2020) 830 926 926 50 100 100 35 72 Deliveries: 1Q 2021 – 1Q 2021 –
Slide 21: Financial overview – Offshore & Specialized Vessels
Financial overview – Offshore & Specialized Vessels Orders, backlog and deliveries Revenues EBITDA Capex € mln € mln € mln -0.8% 1.6% Orders: €145 mln (€116 mln in 1Q 2020) : - 3 Service Operation Vessels for North Star Renewables to 126 2 96 be delivered in 2023 (1) 0 1 Backlog: €970 mln (€813
Slide 22: Financial overview – Equipment, Systems & Services
Financial overview – Equipment, Systems & Services Orders, backlog and deliveries Revenues EBITDA Capex € mln € mln € mln 6.0% 4.5% Orders: €148 mln vs €157 mln in 1Q 2020 Backlog: €1,822 mln vs €2,008 205 232 mln in 1Q 2020 12 10 7 8 1Q 2020 1Q 2021 1Q 2020 1Q 2021 1Q 2020 1Q 2021 EBITDA Margin