Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Fincantieri S.p.A.
  6. News
  7. Summary
    FCT   IT0001415246

FINCANTIERI S.P.A.

(FCT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Shares in Fincantieri fall on capital increase worries

11/24/2021 | 12:21pm EST
FILE PHOTO: A view of Fincantieri shipyard is seen in Monfalcone near Trieste, Italy

MILAN (Reuters) - Shares in Fincantieri fell 4.6% on Wednesday, hit by the prospect of a possible capital increase, which a source said would be necessary if the Italian shipbuilder went ahead with an acquisition it is considering in the defence sector.

Fincantieri and Franco-German KMW+Nexter Defence Systems (KNDS) are both interested in buying Leonardo's OTO Melara and Wass units, several sources have told Reuters.

The two subsidiaries of the Italian defence group - in which the Treasury owns a 30% stake - make naval cannons, tank turrets and torpedoes.

Italian daily Il Messaggero on Wednesday reported Fincantieri had presented a 450 million euro non-binding offer for the units, adding it was considering a 1 billion euro rights issue to finance the deal, a figure roughly equal to its market value.

Fincantieri declined to comment on the report.

While confirming that a capital increase would be necessary if Fincantieri bid for Leonardo's assets, the source close to the matter gave no indication about its size.

KNDS is ready to pay more than 650 million euros for the Leonardo's assets, a third source close to the matter told Reuters.

MINISTERS' MEETING

Italy's defence, treasury and industry ministers are expected to meet later on Wednesday to discuss the sale of OTO Melara and Wass, a source close to the matter separately said.

Rome wants to have a say in the deal since the transaction could have implications for Italian government-funded programmes for the army, the source said.

A consortium comprising Leonardo's OTO Melara and Iveco Defence Vehicles is currently the supplier of the Italian army's tank 'Dardo'.

Rome plans to replace the Dardo with a new vehicle, launching a contract that would be attractive for its current supplier but also Germany's Rheinmetall and KNDS.

As part of its bid for Leonardo's units, KNDS has offered to include Italy in the Main Ground Combat System (MGCS) tank project, more popularly known as the "tank of the future", two industry sources had told Reuters.

Fincantieri Chief Executive Giuseppe Bono in September told reporters the group did not need a capital increase barring extraordinary operations which, at the time, were not in sight.

($1 = 0.8915 euros)

(Reporting by Elisa Anzolin; additional reporting by Francesca Landini, editing by Valentina Za and David Evans)

By Elisa Anzolin


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FINCANTIERI S.P.A. 0.49% 0.6155 Delayed Quote.11.67%
LEONARDO S.P.A. 0.89% 6.114 Delayed Quote.1.22%
RHEINMETALL AG 2.09% 83 Delayed Quote.-4.13%
All news about FINCANTIERI S.P.A.
12/03KMW+Nexter Defence Systems To Make $734 Million Bid For Two Leonardo Units
MT
12/01Leonardo Will Consider Long-Term Sustainability of Jobs in Units Sale, CEO Says
MT
12/01Wärtsilä To Supply LNG Cargo Storage System For Under-Construction Vessel In US
MT
12/01Italy's Leonardo says buyer's nationality not key issue in units' sale
RE
12/01FINCANTIERI : Most sought-after company by students and young professionals in the sector
PU
11/29FINCANTIERI S P A : GOLDMAN SACHS – THIRTEENTH ANNUAL INDUSTRIAL CONFERENCE
PU
11/25Italy, France to deepen ties as Merkel's exit tests European diplomacy
RE
11/25GLOBAL MARKETS LIVE : Tencent, Vivo Energy, AT&T, Verizon, Petrobras...
11/24Shares in Fincantieri fall on capital increase worries
RE
11/24Shares in Fincantieri fall on media report citing 1 bln euro cap hike
RE
More news
Analyst Recommendations on FINCANTIERI S.P.A.
More recommendations
Financials
Sales 2021 6 697 M 7 552 M 7 552 M
Net income 2021 66,8 M 75,3 M 75,3 M
Net Debt 2021 1 014 M 1 143 M 1 143 M
P/E ratio 2021 18,5x
Yield 2021 0,65%
Capitalization 1 043 M 1 173 M 1 177 M
EV / Sales 2021 0,31x
EV / Sales 2022 0,27x
Nbr of Employees 20 784
Free-Float 28,4%
Chart FINCANTIERI S.P.A.
Duration : Period :
Fincantieri S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FINCANTIERI S.P.A.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Last Close Price 0,62 €
Average target price 0,77 €
Spread / Average Target 24,7%
EPS Revisions
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