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EarningsQ4 2025 Earnings Report
IT:FCT Q4 2025 EPS Results
Actual EPS€0.26
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.28
IT:FCT Q4 2025 Revenue Results
Actual Revenue€4.43B
Expected Revenue€2.33B
Beat/MissBeat by +€2.09B
YoY Revenue Growth+1.94%
Earnings Announcement Details
QuarterQ4 2025
Date03/25/2026
TimeTBA
Conference CallWednesday, March 25, 2026
IT:FCT Upcoming Earnings
Fincantieri S.p.A.'s next earnings date is estimated for November 12, 2026, based on past reporting schedules.
Q4 2025 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q4 2025 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive on commercial momentum and profitability: record order intake (EUR 20.3bn), record backlog (EUR 63.2bn), double‑digit revenue growth (+13% YoY), large EBITDA increase (+~34%) and a record net profit (EUR 117m). Balance sheet metrics improved materially (net debt/EBITDA 2.7x) and a EUR 500m capital increase enhances flexibility. Key strengths include exceptional underwater and defense growth, improved cruise economics from capacity saturation, and a deep pipeline including U.S. opportunities. Remaining concerns are timing volatility in naval revenue recognition, increased D&A from the WASS acquisition, a rise in reverse factoring, and limited disclosure on margins for specific new cruise awards—factors that introduce near‑term uncertainty but appear manageable given the company’s operational execution and financial actions.Company Guidance
Revenue and EBITDA Growth
Revenues of approximately EUR 9.2 billion, up ~13.1% year‑on‑year. EBITDA rose to EUR 681 million, up ~34% YoY, with an EBITDA margin of 7.4% versus 6.3% in 2024 (≈ +1.1 percentage points).
Record Net Profit and Improved Profitability
Net profit reached a record EUR 117 million (more than 4x the 2024 level). EBIT increased to EUR 368 million from EUR 246 million, reflecting a material improvement in bottom‑line performance and a structural turnaround.
All‑time High Order Intake and Backlog
Record order intake of EUR 20.3 billion (growth >32% YoY) with book‑to‑bill of 2.2x (vs 1.9x in 2024). Total backlog at an all‑time high of EUR 63.2 billion (≈6.9 years of work), with firm backlog growing ~33% to EUR 41.1 billion and soft backlog at EUR 22.1 billion.
Strong Segment Performance — Shipbuilding, Defense, Underwater
Shipbuilding revenues up 15.1% YoY and Shipbuilding EBITDA up 29.3% to EUR 451 million (margin 6.8%, +0.8 p.p.). Defense revenues +20.7% YoY. Underwater revenues surged +88.2% (consolidation of WASS) and delivered EBITDA of EUR 117 million with a 17.6% margin, confirming premium profitability.
Deleveraging, Liquidity and Capital Move
Net debt/EBITDA improved to 2.7x (from 3.3x at YE2024), adjusted net debt roughly EUR 1.3 billion (EUR ~1.8bn excluding noncurrent receivables). Free cash flow generation >EUR 250 million excluding the WASS purchase. Completed a EUR 500 million capital increase (ABB) to enhance financial flexibility; senior unsecured Schuldschein of EUR 395 million extended maturities; free float increased to 36%.
Robust Commercial Wins and Large Pipeline
Secured important cruise orders (NCL, Crystal, Viking, TUI), naval orders including Italian Navy units, offshore contracts (Ocean Infinity) and large WASS torpedo order for Saudi Navy. Management shortlisted ~EUR 32.5 billion of tenders to pursue and flagged ~EUR 5 billion of near‑term naval opportunities; new U.S. Navy RFP positions Fincantieri Marinette among two candidate shipyards for medium landing ships.
Operational Execution and Delivery
Flawless backlog execution with 24 units delivered across 11 shipyards (5 cruise, 7 defense, 12 offshore). Backlog includes 97 units (36 cruise) and visibility extends through 2037, supporting capacity planning and margin stability through absorption of fixed costs.
Margin Recovery in Equipment & Infrastructure and Offshore
Equipment, Systems & Infrastructure EBITDA up ~33% with margin rising to 8.2% (from 6.1% in 2024). Offshore & specialized vessels achieved EBITDA of EUR 72 million with margin improvement to 5.3%.
IT:FCT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed