Fincantieri S.p.A. (0QWN) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the Fincantieri First Half twenty twenty six Results Conference Call. As a reminder, all participants are in listen only mode. After the presentation, there will be an opportunity to ask questions. At this time, I would like to turn the conference over to Mr. Fruggero, Chief Executive Officer and Managing Director. Please go ahead, sir. Hello, good afternoon. Welcome to Fincantieri First Out twenty twenty six Results Conference Call. We are pleased to report another outstanding set of results marked by strong margin expansion, record net profit and continued deleveraging driven by solid cash generation. These achievements further demonstrate the successful execution of our strategy and the group's ability to convert strong commercial momentum into sustainable and profitable growth. We delivered a further step change in profitability with EBITDA growing 12.5% and margin reaching 7.6%. Margin expansion was mainly driven by favorable pricing dynamic and efficiency measures in cruise, higher margin on defense programs currently under construction, as well as the increasing contribution of underwater. Net profit consequently rose to a record €102,000,000 almost trifling from first half of twenty twenty five and reaching a level close to the all time high of €117,000,000 achieved in full year 2025. Commercial performance remains particularly strong. VAA secured the largest contract in its history with the Royal Saudi Navy Forts. VAA acquired the record order in INFISH with INFISH for a next generation deep sea research vessel while new major cruise contracts extended visibility on deliveries through 2039. In defense, just a few days ago, the Portuguese and Italian governments ann...