Recently, Fincantieri released its first quarter 2025 financial report. In the first quarter, Fincantieri's total revenue reached 2.376 billion euros (approximately RMB 19.22 billion), a significant increase of 35% from 1.76 billion euros in the same period of 2024. All business sectors performed well, especially the revenue of the shipbuilding business increased by 39.5% year-on-year, accounting for 72% of the group's total revenue.
In the first quarter, Fincantieri achieved a significant increase in profitability, with profit before interest, tax, depreciation and amortization (EBITDA) reaching 154 million euros (approximately RMB 1.246 billion), a year-on-year increase of 54%; EBITDA profit margin increased from 5.7% in the first quarter of 2024 to 6.4%.
Fincantieri pointed out that the company's EBITDA profit margin increase in the first quarter was particularly significant in the shipbuilding business segment, which was mainly due to the growth of the defense business and the various measures taken by the group to improve the operational efficiency of the cruise business. At the same time, the newly established underwater business segment also made important contributions, with its EBITDA profit margin as high as 17%, showing the high profitability of this segment.
Financial report data shows that Fincantieri's shipbuilding business revenue in the first quarter was 1.828 billion euros (approximately RMB 14.787 billion), an increase of 39.5% compared with the first quarter of 2024. Among them, the revenue of the cruise business increased from 914 million euros in the same period last year to 1.045 billion euros, accounting for 41% of the group's total revenue (48% of the same period last year); the revenue of the ship business increased from 388 million euros in the same period last year to 770 million euros, accounting for 30% of the group's revenue (20% of the same period last year).
In the first quarter, Fincantieri's shipbuilding business EBITDA was 125 million euros (approximately RMB 1.011 billion), an increase of 53.3% compared with 8,100 euros in the first quarter of 2024, and BITDA profit margin increased to 6.8% from 6.2% in the same period last year.
Meanwhile, Fincantieri's offshore and special ship business revenue in the first quarter was 319 million euros, an increase of 6.7% compared with 299 million euros in the same period of 2024; EBITDA increased from 13 million euros in the same period of last year to 15 million euros, an increase of 16.9%; BITDA profit margin also increased from 4.3% to 4.7%.
Fincantieri pointed out that the group achieved a record quarterly order reception in the first three months of 2025, with a total amount of 11.7 billion euros (approximately RMB 94.644 billion), far exceeding the 500 million euros in the first quarter of 2024, equivalent to 76% of the 15.4 billion euros in the whole year of 2024. Last year, Fincantieri's order reception amount set a new historical record.
