Fincantieri, an Italian shipbuilder, reported on Wednesday that its core profits grew by 45% and revenues by 24% in the first six months of 2025. The key defence and undersea businesses saw particularly strong growth. In a press release, Chief Executive Pierroberto Fogiero stated that "our results are not just figures but a snapshot a company which is turning the complex global scenario into a driving force of growth and creating value."

The order book of the company almost doubled in the first half this year to 14.7 billion euro, from 7.6 billion in 2024's first six-month period. It also reached a record backlog of 57.7billion euros.

The state-controlled group, while confirming its guidance for full-year revenues and core profit margins, improved its forecast of its net debt-to-core profit ratio, or its dependence on debt, to between 2.7-3.0 from an earlier estimate of 3.3.

Orders from the Italian Navy, as well as deals with Indonesia, helped to boost revenues above expectations. ($1 = 0.8672 euro) (Reporting and editing by Keith Weir).

(source: Reuters)