Fincantieri SpA Q1 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Alessandro Pozzi - Mediobanca - Analyst : Hi there. Good afternoon and thank you for taking my questions. I have, three, and the first one is, with regards to the US, Last month, President Trump signed an executive order supporting the shipbuilding sector. I was wondering, also in light of the joint statement with the Italian Prime Minister, how that could translate into potential new opportunities for think and theory. In the short term. The second question is on, the impressive order intake that you have recorded in 11, a lot of orders in cruise, maybe, it's probably a good time for an update on the pricing, dynamics in the cruise market also in light of your push towards, the, digitalization. I believe the first, navy sapiens will be delivered. By the end of the year and possibly that would come with maybe higher margins. So maybe your thoughts on margins going forward includes. And if I may, last one on the new underwater segment, can you give us a bit more color on the, strong progression year on year both in terms of revenues and margins? I suspect it's linked to the, 212 program, but, any additional thought that would be appreciated. Thank you.

Question: Alessandro Pozzi - Mediobanca - Analyst : Absolutely I will see you there next week. Just to follow up on your, remarks, should we expect an updated business plan for the group level before year end?

Question: Alessandro Pozzi - Mediobanca - Analyst : Thank you very much, very clear.

Question: Antonio Gianfrancesco - Intermonte - Analyst : Good afternoon and thank you for taking my question. I have 2, please. The first one is on the, net financial position a bit the guidance for the 2025. You have confirmed the guidance for a stable evolution of debt ratio at 3.3 times as of as of the end of 2024. In light of the results you are achieving this target seems to be, let's say, a bit conservative. So I was wondering if you could give us a little more color on what are the main factors during the setting of this target and whether you you expect any dead pressure during the year. My second is about commercial momentum in the defense segment. How do you see development in this market and in particular what are your expectations, about the tender in which you are in the running right now? So the one for the frigate to the Norwegian Navy in which you are on the short list and the one for the two submariners for the Philippine Navy in cooperation with this single marine system. Thank.

Question: Antonio Gianfrancesco - Intermonte - Analyst : Very clear. Thank you.

Question: Emanuele Gallazzi - Equita - Analyst : Good afternoon everybody. Let's say a couple of questions left. One on the offshore business and the other one on cruises, but starting with the offshore, basically what we have seen is an additional 40 bes margin expansion. I would say an LC, path since the relaunch of this, business unit. Can you just share with us, your expectation for the offshore business going forward, and maybe an idea on the commercial pipeline for this division. The second one is, on the, cruise business, basically we have seen some, let's say innovative orders. Like the one for Viking I was wondering if you are seeing say an acceleration of demand for green or low emission ships and where do you see yourself in the competitive landscape for, these ships? Thank you.

Question: Emanuele Gallazzi - Equita - Analyst : Thank you very much, very clear.

Question: Lucas Ferhani - Jefferies - Analyst : Good afternoon and thanks for for taking the time. I have a few questions as well if we can take them one at a time just the first one was just to follow up on on offshore I think we We're getting the sense that potentially there would be actually a slowdown in demand when you look at US offshore wind. I know you're not necessarily in that segment, but generally what we hear on on offshore wind and seeing kind of the order intake a bit lower, on your last year. And so it was interesting to hear the comment. My question is, why do you think we're not seeing, as big of a backlog, if it's very much capacity driven business compared to, for example, what we see in crews where there are clear signs that the demand is there. Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 12, 2025 / 3:00PM, FCT.MI - Q1 2025 Fincantieri SpA Earnings Call

Question: Lucas Ferhani - Jefferies - Analyst : Thank you, yeah, that's really clear. And then another one was just on the phasing of of revenues for this year. So Q1 is usually the the weakest quarter, and then we see kind of acceleration throughout the year into into Q4 because you're already on quite elevated levels in Q1 that would put you potentially way above the guidance if you follow the usual pattern. Is there anything to highlight on the phasing of revenues for the quarters this year?

Question: Lucas Ferhani - Jefferies - Analyst : Thank you.

Question: Gabriele Gambarova - Intesa Sanpaolo - Analyst : Yes, good evening, Tilber and you that, just a few questions. The first one is on, this industrial cooperation agreement, with the this and grouper marine systems. So I was wondering if, it's something that we should, think of, only relating to this opportunity in the Philippines that appears to be material or it can become something let's say wider, more strategic and in general I would ask you. What are your thoughts about this group? What's the situation? I know that should, it should, go on the market to be listed, but apparently there is no, let's say industrial partner as far as I know, but, I ask you some more color on this situation. Thank you.

Question: Gabriele Gambarova - Intesa Sanpaolo - Analyst : Okay, thank you very much. My second and last question is on the Q1 results, if I may, and it regards to the contribution, of this important, let's say contract in Indonesia for, revenues, in the BDA. I was wondering if, you can be more precise on the contribution, at least in terms of revenues, and if, this event was, factored in, your fiscal year 25. Guidance thank you.