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    FCT   IT0001415246

FINCANTIERI S.P.A.

(FCT)
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Fincantieri S p A : WILL PROVIDE 8 VESSELS TO INDONESIA

06/10/2021 | 03:10am EDT

FINCANTIERI WILL PROVIDE 8 VESSELS TO INDONESIA

The Group has been awarded the program for the Navy of the Asian Country

Trieste, June 10, 2021 - Fincantieri, one of the most important shipbuilding groups in the world, and the Ministry of Defense of Indonesia, have signed a contract for the supply of 6 FREMM class

frigates, the modernization and sale of 2 Maestrale class frigates, and the related logistical support.

The order represents a success for Fincantieri and for the Country, which has a fleet of 10 FREMM ships. The agreement is of the utmost importance to strengthen the collaboration between two Countries in a strategic area of the Pacific.

Fincantieri will be prime contractor for the entire program. The construction of the frigates will ensure significant employment benefits not only for several Italian shipyards of the Group in the next years, but also for other companies in the sector, namely Leonardo, as well as numerous small and medium-sizednational companies, and will see the collaboration of the local PT-PALshipyard (Java island). The modernization of the two Maestrale class vessels, which Fincantieri will acquire from the Italian Navy once decommissioned, will also be carried out in Italy.

Giuseppe Bono, CEO of Fincantieri, commented: "The acquisition of an order of this magnitude allows Fincantieri to also assume global leadership in the surface ships sector, and is the confirmation of the technological leadership of a project once again considered the most innovative on the market which led to 20 ships for several foreign Navies, between orders and options. This program has an extraordinary strategic importance, both for the economic return for our Country and for the Italian defense supply chain, and because it ensures Fincantieri's strong positioning in the area, paving the way for the finalization of further important negotiations for other programs already in progress also in the civil sector". Bono concluded: "Finally, I want to acknowledge our Navy, which has made a decisive contribution to building together with the Country's industry a ship that is appreciated all over the world and which fully satisfies its operational needs".

* * *

Fincantieri is one of the world's largest shipbuilding groups, the only one active in all high-tech marine industry sectors. It is leader in the construction and transformation of cruise, naval and oil & gas and wind offshore vessels, as well as in the production of systems and component equipment, after-sales services and marine interiors solutions. Thanks to the expertise developed in the management of complex projects, the Group boasts first-class references in infrastructures, and is a reference player in digital technologies and cybersecurity, electronics and advanced systems.

With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how, expertise and management centres in Italy, here employing 10,000 workers and creating around 90,000 jobs, which double worldwide thanks to a production network of 18 shipyards operating in four continents and with over 20,000 employees.

www.fincantieri.com

FINCANTIERI

Press Office

Investor Relations

Tel. +39 040 3192473

Tel. +39 040 3192111

press.office@fincantieri.it

investor.relations@fincantieri.it

Disclaimer

Fincantieri S.p.A. published this content on 10 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2021 07:09:06 UTC.


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Sales 2021 6 707 M 7 941 M 7 941 M
Net income 2021 60,8 M 71,9 M 71,9 M
Net Debt 2021 1 106 M 1 310 M 1 310 M
P/E ratio 2021 22,7x
Yield 2021 0,54%
Capitalization 1 248 M 1 477 M 1 477 M
EV / Sales 2021 0,35x
EV / Sales 2022 0,29x
Nbr of Employees 20 784
Free-Float 28,4%
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 0,74 €
Average target price 0,77 €
Spread / Average Target 4,35%
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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