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    FCT   IT0001415246

FINCANTIERI S.P.A.

(FCT)
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Fincantieri S p A : Presentazione 1H 2021

07/30/2021 | 02:39am EDT

1H 2021 RESULTS

July 30, 2021

www.fincantieri.com

Safe Harbor Statement

This Presentation contains certain forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts reflecting current views with respect to future events and plans, estimates, projections and expectations which are uncertain and subject to risks. Market data used in this Presentation not attributed to a specific source are estimates of the Company and have not been independently verified. These statements are based on certain assumptions that, although reasonable at this time, may prove to be erroneous. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. If certain risks and uncertainties materialize, or if certain underlying assumptions prove incorrect, Fincantieri may not be able to achieve its financial targets and strategic objectives. A multitude of factors which are in some cases beyond the Company's control can cause actual events to differ significantly from any anticipated development. Forward-looking statements contained in this Presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No one undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Market data used in this Presentation not attributed to a specific source are estimates of the Company and have not been independently verified. Forward-looking statements speak only as of the date of this Presentation and are subject to change without notice. No representations or warranties, express or implied, are given as to the achievement or reasonableness of, and no reliance should be placed on, any forward-looking statements, including (but not limited to) any projections, estimates, forecasts or targets contained herein.

Fincantieri does not undertake to provide any additional information or to remedy any omissions in or from this Presentation. Fincantieri does not intend, and does not assume any obligation, to update industry information or forward-looking statements set forth in this Presentation. This presentation does not constitute a recommendation regarding the securities of the Company.

Declaration of the Manager responsible for preparing financial reports

Pursuant to art. 154-BIS, par. 2, of the Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at Fincantieri, Felice Bonavolontà, declares that the accounting information contained herein correspond to document results, books and accounting records.

Agenda

S U M M A R Y & B U S I N E S S U P D AT E

F I N A N C I A L R E S U L T S

O U T L O O K

A P P E N D I X

SUMMARY & BUSINESS UPDATE

Executive summary

Back to profitability: revenues up 28%, EBITDA +84%, adjusted net income €49 mln, guidance confirmed

Revenues (€ mln)

3,251 3,026

2,369

1H20 1H21 1H21(1) Ebitda (€ mln)

5.0% 6.7% 7.2%

219 219

119

1H20 1H21 1H21(1) Net debt (€ mln)

1,617

1,062

FY20 1H21

REVENUES EXCLUDING PASS-THROUGH ACTIVITIES +28% YOY

EBITDA AT €219 MLN AND EBITDA

MARGIN AT 7.2% EXCLUDING PASS-

THROUGH ACTIVITIES

ADJUSTED NET INCOME €49 MLN AND

€42 MLN EXTRAORDINARY COSTS

NET DEBT CONSISTENT WITH

EXPECTED DELIVERY SCHEDULE AND IN

LINE WITH 1Q21 (3 CRUISE SHIPS

DELIVERED IN JULY WITH A CUMULATIVE

CASH-IN OF €1.5 BN)

NET DEBT €1.2 BN AS OF JULY 2021

  • Confirmed guidance on FY 2021 with revenues expected to reach more than +25% YoY and EBITDA margin at 7%, despite increasing commodity prices
  • Total backlog with 111 units at €37 bn, 7.1x 2020 revenues: backlog with 93 units at €27.6 bn and soft backlog at €9.4 bn
  • Record-highproduction volumes (with 8.4 mln production hours at Italian sites, up ~50% YoY) in order to execute the hefty backlog and stick to the planned delivery schedule
  • Corporate vaccination program successfully launched in June at Italian yards, addressing both our employees and subcontractors
  • 7 ships successfully delivered from 6 different shipyards and 6 cruise ships to be handed over in the second half of the year (out of which 3 delivered in July)
  • Awards: Second FFG-62 frigate for the US Navy; prime contractor of the program for 6 frigates for the Indonesian Navy; new MSC cruise terminal at PortMiami

(1) Excluding the effect of pass-through activities

5

Questo è un estratto del contenuto originale. Per continuare a leggere, accedi al documento originale.

Disclaimer

Fincantieri S.p.A. published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 06:38:06 UTC.


© Publicnow 2021
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Sales 2021 6 707 M 7 884 M 7 884 M
Net income 2021 50,8 M 59,7 M 59,7 M
Net Debt 2021 1 061 M 1 247 M 1 247 M
P/E ratio 2021 24,3x
Yield 2021 0,55%
Capitalization 1 232 M 1 450 M 1 449 M
EV / Sales 2021 0,34x
EV / Sales 2022 0,29x
Nbr of Employees 20 784
Free-Float 28,4%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 0,73 €
Average target price 0,79 €
Spread / Average Target 8,39%
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Managers and Directors
Giuseppe Bono Chief Executive Officer & Director
Giampiero Massolo Chairman
Massimiliano Cesare Independent Non-Executive Director
Paola Muratorio Secretary & Independent Director
Federica Seganti Independent Director