Fincantieri, an Italian shipbuilder, revised upwards on Monday its '2026 guidance in terms of revenue and core profit. It also increased its net profit. This was after it signed a number of large contracts earlier this year that surpassed its full-year goal.

The group focused on high-margin contracts in the naval sector, and also benefited from the recovery of cruise ship demand as part a larger push to improve profits and reduce debt. The state-controlled company said that revenue for this year will be between 9.3 billion and 9.4 billion euro ($10.9 billion to $11 billion), a slight increase from the 9.2 billion to 9.3 million euros stated at its capital market day in March.

The company said that the earnings before interest, taxes, depreciation, and amortization (EBITDA), for 2026, would range between 700?millions and 710?millions euros. This is a significant increase from 700 million euros. Fincantieri stated that the value for new orders fell 70% in the first three months of 2025 compared to the same period of 2025, to 3.4 billion euro. However, the company said the total does not include large contracts signed between January and March which have yet to be implemented.

The company said that these contracts had allowed it to exceed a target set by the company for 2026 of new contracts worth 11 billion euros.

In a statement, Chief Executive Pierroberto Folgiero stated that "the?first quarter 2026 confirms consistency and strength of Group's growth path".

"Commercial Performance has Reached a New Milestone with the Highest-Ever Total Backlog of 74.2 Billion Euros, which provides visibility on further deliveries extended until 2039,"?he added.

Trieste-based firm expects its net profit for 2026 will be between?140 and?180 million euros, compared to the initial forecast that it would beat 2025's full-year profits of 117 millions euros.

(source: Reuters)