Fincantieri announced a 53.5% increase in its first-quarter core profits to 154 millions euros ($170.72million), driven by a strong performance in all segments, especially in shipbuilding and increased revenues in defence.

Fincantieri, based in Trieste, said that its total backlog was 57.6 Billion Euros, and revenues jumped 35% to 2.38 Billion Euros.

The increase in revenue in the defence sector and the consolidation of Fincantieri's three dimensions, namely cruise, defence, and offshore, confirm the effectiveness and efficiency of the integrated business model, said Pierroberto Fogiero.

Fincantieri has confirmed its forecasts up to 2025. Its order intake this year is at 11.71 billion euro, which is 76% of its record-breaking value in 2024. ($1 = 0,9020 euros) Reporting by Laura Contemori and Editing by Louise Heavens

(source: Reuters)