(Alliance News) - The board of directors of Fincantieri Spa on Tuesday approved interim financial information as of March 31. The company reported first-quarter revenues that were broadly stable at EUR1.76 billion from the first quarter of 2023.

The 2024 guidance is therefore confirmed, with revenues expected to be around EUR8 billion at year-end, up about 4.5 percent on 2023.

Ebitda is EUR100 million, up year-on-year by about 16 percent from EUR87 million in Q1 2023.

Ebitda margin is 5.7 percent, a significant improvement from 4.9 percent in Q1 2023 and 5.2 percent at the end of 2023.

Net financial debt, at EUR2.41 billion as of March 31, is down sharply from the figure at the end of Q1 2023, when it was EUR2.92 billion, and broadly in line with the figure at the end of 2023, when the figure indicated EUR2.27 billion.

"The ongoing deleveraging path is confirmed, which envisages a debt-i.e. NFP/Ebitda ratio at the end of the year between 5.5 and 6.5x," the company wrote in the released note.

Fincantieri on Tuesday trades in the red by 0.3 percent at EUR0.61 per share

By Maurizio Carta, Alliance News reporter

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