The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Monica Bosio - Intesa Sanpaolo S.p.A. - Analyst
: Good afternoon, everyone, and thanks for taking my questions. I have three. The first one is a more general question. It's on the cruise business.
With the resumption of the orders, what is now the pricing scenario in the segment? And as Fincantieri is planning the deliveries of the new cruise
orders in a disciplined way and I understood that group agreed with the customer deliveries -- a part of the delivery is beyond 2030. I was wondering
if the lengthening of the time for the horizon for the deliveries is impacting on the pricing scenario. And if yeah, how?
My second question is on the defense business. Can you please give us any update on the Constellation program and on the expected evolution
of the margins related to these programs from now on?
And the very last is on the equipment systems and services that beat our -- my personal expectation. On the back also of the Remazel consolidation,
what can we expect in term of margins for the division by year end and if you can give us any color on the evolution of the margins from 2025
onwards on this division? Thank you very much.
Question: Monica Bosio - Intesa Sanpaolo S.p.A. - Analyst
: And, sorry, if I ask a follow-up. Is there any extra capacity from other players or cruise manufacturers in the industry? Because I'm just wondering
the customer are putting the orders, such that a part of them will have to wait until 2030 may be to have the ships. So I was just wondering if that's
something that is changing in the dynamic of the industry.
Question: Monica Bosio - Intesa Sanpaolo S.p.A. - Analyst
: Okay. Thank you. I will have a look --?
Question: Alessandro Pozzi - Mediobanca - Analyst
: I have a couple of questions. The first one is on the recent agreement you signed with Accenture for the digitization of your operations, and I
remember the digitalization was a key pillar of the strategy at the Capital Markets Day back in 2023.
Can you give us an update on the progress, and a tangible progress that you've made in the last year or so in terms of digitalization and how that
could improve basically your margins and synergies within the group?
The second question is on defense. You recently signed an important order for the fourth submarine for the Italian Navy, can you maybe tell us
what potential other orders are in the pipeline for the Italian Navy in the next few quarters?
Question: Alessandro Pozzi - Mediobanca - Analyst
: Just before we move on. Do you have a timeline for the next key milestone for these projects or for when the software will be ready to be rolled
out?
Question: Alessandro Pozzi - Mediobanca - Analyst
: So next year stepping stone and then it will grow over the years?
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JULY 30, 2024 / 2:30PM, FCT.MI - Half Year 2024 Fincantieri SpA Earnings Call
Question: Gabriele Gambarova - Banca Akros - Analyst
: The first one is on the guidance for net financial debt on EBITDA. Is it possible to understand what's behind, I mean, there is this big improvement
around 480 million, is it a matter of, I don't know, higher advance payments or some lower CapEx? I don't know. Could you tell me something more
about this?
And then on the Constellation, again, I understand it's going to be, I mean, it's already a very important program, and it's going to grow in size. Is
it possible to have an idea of the margins that this program carries? And connected to this question, do you think you will have the opportunity
to offer life cycle support for the fleet of the Constellation? Is this something possible?
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