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: Alessandro Pozzi - Mediobanca - Analyst
: Two for me. The first one is on the macro, let's say, outlook for defence. We've seen the outcome of US elections. And I think as we go into 2025
and beyond, geopolitical risk is here to stay quite elevated as well. And I was wondering how do you see your commercial pipeline or opportunities
evolving, say, in the next few years has there been an acceleration compared to what you saw, for example, just 12 months ago? That's the first
question.
The second question is everyone now is talking about consolidations across Europe. And you've been quite open about the potential opportunities
that you could have or synergies with the ThyssenKrupp Marine. And we know that the sale of ThyssenKrupp has now sold to the private equity. I
was wondering what do you think are the chances that you could do an agreement, you could do something with the German government
potentially taking over those shipyards?
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NOVEMBER 14, 2024 / 4:00PM, FCT.MI - Q3 2024 Fincantieri SpA Earnings Call
Question: Alessandro Pozzi - Mediobanca - Analyst
: Just maybe last one on Indonesia. What is the visibility that you have on the or the signing of the final, let's say, contract in Indonesia for the two
PPAs?
Question: Monica Bosio - Intesa Sanpaolo S.p.A. - Analyst
: I have three. The first one is in the Naval segment. On top of the Indonesian contract, which of the opportunities on the export markets do you
consider most interesting and most likely to be awarded when entering 2025? And am I right assuming that in the current backlog, the Naval
accounts roughly EUR4 billion, this is my first question.
The second one is on the cruise business. You have been very successful in stabilizing the cruise business. Just a confirmation, can you confirm that
starting from the next year, the cruise business will enter auto financing cycle? And maybe if you can give us a rough indication, if you can, on the
average working capital absorption from cruises from now on?
And the very last question is on the savings plan. According to the business plan, you have EUR300 million cost reduction target across the five-year
plan. Can you quantify the expected savings this year and give us a rough indication of potential additional savings on top of this one? Because it
seems to me that you are running ahead the target in terms of cost reduction? Maybe I'm wrong.
Question: Monica Bosio - Intesa Sanpaolo S.p.A. - Analyst
: And am I right assuming that in the soft backlog, the naval can count roughly EUR4 billion in the soft backlog my estimate.
Question: Gabriele Gambarova - Banca Akros - Analyst
: The first one is on offshore. Growth was extraordinary, especially in Q3. So, I guess you will, let's say, hit the targets you set for 2025 already with
one year in advance. I was wondering if you can, let's say, give me some more color on this business. Are you working at full capacity, you have
constraints or you can grow further and where margins may go maybe in 2025?
This is the first question. And the second one is on the net debt guidance. Basically, you improved it by EUR250 million more or less. I was wondering
if you are factoring, let's say, the financial impact of the Indonesian contract in full or there is some more upside left.
Question: Gabriele Gambarova - Banca Akros - Analyst
: If I may, just a follow-up on naval. I've read that Norway is interested in buying, I think, five new frigates. I don't know if you have any idea of when
this process will start, what might be the timing for a decision? Any color on this would be appreciated.
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NOVEMBER 14, 2024 / 4:00PM, FCT.MI - Q3 2024 Fincantieri SpA Earnings Call
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