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Fincantieri reports exceptional mid-year financial results
The Fincantieri group has reported a strong financial performance in the first half of 2025, citing growth in each of its key areas of business. The company continues to follow a strategy to diversify and strengthen its role not only as a leading cruise ship builder, but also in defence, offshore, energy, and its newly launched underwater segment.
The shipbuilder has continued a strong rebound from the challenges of the pandemic, and with limited participation in commercial shipbuilding, as it is not involved in segments such as containerships or LNG carriers, which have been driving others’ growth. Order intake was strong
during the first half of 2025, with the company highlighting a 93 percent increase versus 2024 to €14.7 billion ($16.8 billion). It was equal to 96 percent of the group’s total orders for all of 2024, with the shipbuilding segment of its operations driving the growth.
Fincantieri reports that as of mid-year, its backlog stands at an all-time record of €57.7 billion ($65.9 billion) with €41.9 billion ($47.8 billion) in firm orders. The committed orders increased 35 percent compared to year-end 2024 and represent more than seven times 2024 revenues. Cruise was a critical part of this, with the company reporting it had booked orders and options for a total of 21 cruise ships (Crystal Cruises, Norwegian Cruise Line, Four Seasons Yachts, and Viking), compared with 19 firm orders for cruise ships during all of 2024. However, it also points to orders from the Italian Navy and a replacement order for the Indonesian Navy, and a total orderbook of 100 vessels.
For the first half of 2025, Fincantieri reported a 24 percent increase in revenues to €4,576 million ($5,226 million). EBITDA increased 45 percent to €311 million ($355 million) with a net profit of €35 million ($40 million). It reported a total of 13 ships delivered for eight yards, including three cruise ships (Norwegian Aqua, Mein Schiff Relax, and Viking Vesta) as well as the ninth vessel in the 10-unit FREMM series.
AkzoNobel posts second quarter financial results
Coatings manufacturer AkzoNobel, parent to Interlux, Awlgrip and Sikkens, has announced its second-quarter financial results. The company reported revenues of €2.63 billion ($3.04 billion), a 6% decline year-over-year, and operating income of €214 million ($250.2 million), a 21% decrease from the year-ago quarter. The
marine and protective coatings segment posted revenues of €413 million ($482.8 million), a €1 million ($1.2 million) increase from the year-ago quarter.
According to a statement, revenues were driven by positive pricing in all businesses, offset by lower volumes. Strong volume growth in marine and protective coatings, along with growth in most businesses in Asia, was more than offset by the continued impact from macroeconomic uncertainties, particularly in North America.
AkzoNobel provided the following guidance for the remainder of the year: “Subject to ongoing market uncertainties and adjusted for exchange rates as of the end of [the first half], the company expects to deliver adjusted EBITDA above €1.48 billion ($1.73 billion) for full-year 2025.”
THE REPORT | SEP 2025 | ISSUE 113 | 23
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