Core Insights - Fincantieri reports a total order backlog of €41 billion as of September 30, 2025, representing a 32% increase from the end of 2024, with 100 ships scheduled for delivery until 2036 [2] - The company has set ambitious financial targets for the next five years, aiming for revenues of €12.5 billion by 2030, a 40% increase from 2025, and an EBITDA of over €1.25 billion, reflecting a 90% growth [2][3] - The defense sector is a strategic focus for expansion, with global defense spending expected to reach $2.93 trillion by 2030, an 18.6% increase from 2025 [6] Financial Goals - By 2028, Fincantieri anticipates revenues of approximately €11 billion, increasing to €12.5 billion by 2030 [3] - EBITDA is projected to rise from around €930 million in 2028 to €1.25 billion in 2030, with an EBITDA margin improvement from 8.5% to 10% [3] - Net profit is expected to grow from approximately €220 million in 2028 to €500 million in 2030, with profit margins doubling from 2% to 4% [3] Order and Market Opportunities - Fincantieri expects to secure over €50 billion in new orders from 2026 to 2030, with a significant portion of contracts in the defense sector anticipated to materialize between 2026 and 2028 [3] - The company has identified over €56 billion in commercial opportunities for the same period, with €23 billion having a medium to high probability of realization [3] Business Segments - In the cruise segment, Fincantieri maintains a leading market share of over 49%, with 34 cruise ship orders scheduled for delivery until 2036 [4] - The defense sector is a key area for growth, with plans to double production capacity at Italian shipyards and expand into new markets in the U.S., Southeast Asia, and the Middle East [6] - The offshore and special vessels segment is expected to benefit from increased global energy demand, with opportunities for constructing 130-140 new ships [6] Emerging Markets - The newly established underwater business segment is projected to see market size double from €22 billion to €43 billion between 2026 and 2030, driven by strong growth potential in defense, commercial, and dual-use applications [6] - Fincantieri aims to achieve its first zero-carbon cruise ship by 2035 as part of its energy transition strategy [6]