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Fincantieri présente ses résultats pour le premier semestre

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FINCANTIERI BOARD APPROVES 1H 2017 RESULTS

Results for the first half of 2017[1]

Results in line with the Business Plan 2016-2020 targets: revenues up 1.3% compared to the same period of 2016, EBITDA margin at 6.3% marking an improvement of more than 20% from 5.0% of the first half of 2016. Business Plan targets confirmed

Total backlog2 at euro 25.5 billion, covering approximately 5.8 years of work if compared to 2016 revenues: backlog as at June 30, 2017 was euro 20.4 billion (euro 19.3 billion as at June 30, 2016) with 102 ships in the order book; the soft backlog at the same date was approximately euro 5.1 billion (approximately euro 2.5 billion as at June 30, 2016)

Commercial success continues with orders and agreements signed in the first few months of the year for a total of 12 cruise ships (including options)

Consistently sound operating performance with the delivery of five vessels in the first six months, of which three cruise ships ("Viking Sky", "Majestic Princess" and "Silver Muse") and two naval vessels (the sixth units of FREMM program and the submarine “Romeo Romei”). Ongoing implementation of actions aimed at improving profitability also through further development of important production and commercial synergies with VARD

Signed a share purchase agreement for the acquisition of 66.66% of the share capital of STX France from its current shareholder STX Europe AS: the agreement entails a purchase price of euro 79.5 million, to be paid through available financial resources. The closing will be subject to customary conditions for this kind of transactions as well as the French state’s choice not to exercise the preemption right on share subject to sales by STX Europe AS. Fincantieri continues to negotiate with the French State for the finalization of the shareholders’ agreemen