Annual Orders Of 8.5 Billion Euros! Fincantieri's Earnings Surge

- Apr 02, 2018-

With the surge of profits and revenues, the Fincantieri Group, an Italian shipping company, achieved a complete recovery of its business and economic performance in 2017. The annual volume of orders received reached 8.55 billion euros, a significant increase from the 6.5 billion euros in 2016. glenflange


Last year, Fincantieri’s revenue reached a record high of 5 billion euros, an increase of 13% compared to the 4.4 billion euros in 2016. This mainly comes from the shipbuilding sector. Last year, revenue increased by 27%, of which the postal service accounted for 49% of the group's total revenue, while the naval vessel business revenue increased by 5% year-on-year.LR 45 DEG ELBOW


Fincantieri’s profit in 2017 surged to 53 million euros, while 2016 profit was 14 million euros; core operating profit was 341 million euros.


Fincantieri expects that by 2022, the company's revenue will increase by another 50% from the $5 billion in 2017. The core operating profit is expected to increase by 100% from last year's 341 million euros, and the target profit margin is 8% to 9%. DIN2567 FLANGE


As of December 31, 2017, Fincantieri received orders for 8.55 billion euros. Among them, the shipbuilding business accounted for 88% of the total orders, offshore business accounted for 10%, equipment, systems and services accounted for 7%.


Based on the current order volume, Fincantieri’s delivery schedule will continue for the next five years. In 2017, Fincantieri received a total of 12 new ship orders, of which 11 were cruise ships.