Latest news with #PierrobertoFolgiero
Reuters
20 hours ago
- Business
- Reuters
Defence and underwater business drive Fincantieri's first-half revenues
ROME, July 30 (Reuters) - Italian shipbuilder Fincantieri ( opens new tab reported on Wednesday a 45% rise in core profits and a 24% rise in revenues in the first half of 2025, with particularly strong growth in the key defence and underwater businesses. "Our results are not merely figures, but a snapshot of a company that is turning the complexity of the global scenario into a driver of growth and value creation," Chief Executive Pierroberto Folgiero said in a statement. The company's order book almost doubled to 14.7 billion euros in the first half of this year, up from 7.6 billion in the first six months of 2024 and reaching a record level backlog at 57.7 billion euros. While confirming its full-year revenue and core profit margin guidance, the state-controlled group improved its forecast for its net debt to core profit ratio - or its reliance on debt - to between 2.7 and 3.0, from a previously estimated 3.3. Revenues rose to 4.58 billion euros ($5.30 billion) from 3.68 billion euros in the same period the previous year, and above expectations, lifted by orders from the Italian Navy and deals with Indonesia. ($1 = 0.8672 euros)
Associated Press
16-07-2025
- Business
- Associated Press
CORRECTING and REPLACING Fincantieri Brings Together Thought Leaders to Discuss U.S. Shipbuilding Renaissance
WASHINGTON--(BUSINESS WIRE)--Jul 16, 2025-- Please replace the release with the following corrected version due to multiple revisions. This press release features multimedia. View the full release here: In his opening remarks at the July 15 Fincantieri event, Pierroberto Folgiero, CEO and Managing Director, Fincantieri, said: 'This is a defining moment for American shipbuilding—and Fincantieri is here to stay. We are not just investing in infrastructure; we are investing in the future of maritime security, industrial innovation, and the skilled workforce that powers it. With a new management team leading our U.S. operations, we are accelerating our commitment to deliver next-generation capabilities in full alignment with U.S. strategic priorities.' The updated release reads: FINCANTIERI BRINGS TOGETHER THOUGHT LEADERS TO DISCUSS U.S. SHIPBUILDING RENAISSANCE Fincantieri, the global leader in high-complexity shipbuilding, hosted 'FULL SPEED AHEAD: The U.S. Shipbuilding Renaissance' yesterday in Washington, D.C., bringing together senior voices from government, industry, and the national security community to examine the strategic future of American maritime power. The event opened with remarks from George Moutafis, newly appointed CEO of Fincantieri Marine Group (FMG), and Jan Allman, CEO of Fincantieri Marinette Marine, who reaffirmed the company's long-term commitment to the United States through its unique 'System of Shipyards' across Wisconsin. This advanced industrial network—operating in Marinette, Sturgeon Bay, Green Bay and Florida —employs more than 3,000 people and stands as a cornerstone of Midwest manufacturing resurgence. Moderated by Vice Adm. Rick Hunt, President of FMM, the expert panel featured Dr. CynthiaCooke (Center for Strategic and International Studies), Hon. Russell Rumbaugh (Atlantic Council), and Dr. Stacie Pettyjohn (Center for a New American Security). The discussion focused on the evolving defense-industrial landscape and how the U.S. can rebuild a resilient, sovereign shipbuilding base. Closing the event, Pierroberto Folgiero, CEO and Managing Director of Fincantieri, stated: 'This is a defining moment for American shipbuilding—and Fincantieri is here to stay. We are not just investing in infrastructure; we are investing in the future of maritime security, industrial innovation, and the skilled workforce that powers it. With a new management team leading our U.S. operations, we are accelerating our commitment to deliver next-generation capabilities in full alignment with U.S. strategic priorities.' Looking ahead, Fincantieri is focused on strengthening every dimension of its U.S. presence. The company is accelerating the integration of artificial intelligence and advanced robotics across its operations, transforming production processes to deliver mission-driven platforms with greater efficiency and reliability. By digitalizing its shipyards and leveraging data-driven solutions, Fincantieri is setting new standards in industrial performance. With more than $800 million invested in U.S. facilities and over 900 suppliers across 43 states, Fincantieri brings to the table a proven industrial model, a resilient supply chain, and an experienced workforce of over 3,000 employees in Wisconsin. Leveraging its global expertise and advanced capabilities, Fincantieri stands ready to support the United States in strengthening its shipbuilding industrial base—through innovation, execution excellence, and long-term strategic partnership. * * * View source version on CONTACT: FINCANTIERI Press Office Tel. +39 040 3192111 [email protected] Relations Tel. +39 040 3192111 [email protected] KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA INDUSTRY KEYWORD: OTHER MANUFACTURING MARITIME TRANSPORT OIL/GAS MILITARY MANUFACTURING ENERGY TRANSPORTATION DEFENSE TRAVEL SOURCE: Fincantieri Copyright Business Wire 2025. PUB: 07/16/2025 01:19 PM/DISC: 07/16/2025 01:19 PM
Bloomberg
30-06-2025
- Business
- Bloomberg
Italy's Fincantieri Swaps Cruises for Warships in Defense Pivot
By and Antonio Vanuzzo Save Fincantieri SpA plans to focus some Italian civil and military shipyards on just making warships, in the latest sign that Europe's defense-spending bonanza is reshaping industrial strategy. The state-controlled shipbuilder is preparing to boost its naval capacity and is weighing the roles of two locations in southern Italy, Chief Executive Officer Pierroberto Folgiero said.
Yahoo
27-05-2025
- Business
- Yahoo
Europe's largest shipbuilder says the continent must spend bigger and better on underwater defenses
The CEO of Fincantieri called on Europe to scale up its subsea defenses in the face of rising threats. Pierroberto Folgiero told the FT it's time for Europe to take "responsibility" for subsea defenses. This comes amid intensifying Russian threats and reduced US commitments to the region. The CEO of Italian shipbuilder Fincantieri said Europe needs to boost its subsea defenses amid intensifying threats and weakening US security guarantees. "The Mediterranean has always been populated by Russian and US submarines, it's up to us Europeans now to take responsibility for our underwater defence," Folgiero told the Financial Times in an interview published Tuesday. "If European countries are going to spend more on defence, we should spend better," he added. Since Russia's full-scale invasion of Ukraine in 2022, European military and political leaders have repeatedly accused Russia of sabotaging subsea cables that carry vital internet data and energy. European militaries have scaled up their protection, with a specialist NATO unit launched in January increasing the surveillance and patrols of the vital infrastructure. European defense firms are also boosting the development of technology to help underwater defenses. Fincantieri, Europe's largest shipbuilder, announced last week that it expects its underwater division, which makes submarines, underwater drones, and other technology, to double in size over the next few years, to account for 8% of group revenue by 2027, and bring in the equivalent of $930 million. When announcing its new subsea-focused strategy, the company said it would be partnering with Italy's Graal Tech to develop new subsea drone technology. Folgiero told the FT that Europe faces a range of subsea threats, and that it's boosting production to meet them. "Attention has focused on the Baltic Sea following the outbreak of the war in Ukraine," he said. "But the Mediterranean is twice as big as the Baltic and a crucial juncture from a geopolitical perspective." "This is why we are betting on underwater defence and technology and increasing our industrial capabilities," Folgiero added. Meanwhile, earlier this month German defense firm Helsing said it was working with the UK's Royal Navy to deploy new subsea drones to better monitor subsea infrastructure. Read the original article on Business Insider
Zawya
23-05-2025
- Business
- Zawya
Top shipbuilder Fincantieri seals Red Sea Authority deal
Saudi Arabia - Fincantieri, one of the world's leading shipbuilding groups, has announced that it has signed a MoU with the Saudi Red Sea Authority, the official regulatory body of the Kingdom of Saudi Arabia for coastal tourism in the Red Sea. This partnership marks a significant milestone in Fincantieri's expansion in the Kingdom and reinforces its commitment to sustainable growth in the Red Sea ecosystem, said the company in a statement. By consolidating its position in the rapidly expanding Saudi maritime market, Fincantieri sees tremendous potential for future growth and collaboration with local stakeholders across the civilian and military sectors, establishing itself as a trusted partner, it stated. Signed today (May 22) in Riyadh by Fincantieri's CEO and General Manager, Pierroberto Folgiero, and SRSA's CEO, Mohammed Al-Nasser, the agreement looks to explore collaborative opportunities in the development and management of maritime and coastal activities in the Red Sea region. Opportunities include the construction of luxury cruise ships, as well as the development of state-of-the-art maritime and tourist port facilities that cater to the growing demand for high-quality, sustainable infrastructure, it stated. On the Red Sea Authority collaboration, Folgiero said the partnership marks an exciting new chapter in Fincantieri's expansion in the region. "By combining our commercial strength, our expertise in shipbuilding, and our experience in designing and implementing underwater infrastructure and technologies with the forward-looking goals of the Saudi Red Sea Authority, we aim to contribute to the development of the Red Sea Region," he stated. "Our ambition is to help it become one of the world's top tourist destinations while ensuring the protection of its unique natural heritage, both above and below the sea surface," he added. As part of the company's strategic expansion in the region, Fincantieri also inaugurated the new offices in Riyadh of its local subsidiary, Fincantieri Arabia for Naval Services. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
