(Reuters) -Italian shipbuilder Fincantieri reported on Wednesday a 40% rise in its nine-month core profit pushed by growth in all of its business segments. Revenue for the group's defence unit was up
Fincantieri Reports 40% Increase in Core Profit for Nine Months
Fincantieri's Financial Performance Overview
(Reuters) -Italian shipbuilder Fincantieri reported on Wednesday a 40% rise in its nine-month core profit pushed by growth in all of its business segments.
Growth in Business Segments
Revenue for the group's defence unit was up 39% year-on-year compared to a 23% rise in the shipbuilding sector, in a further sign that the state-controlled group is shifting its attention towards the increasingly profitable defence sector.
Order Intake and Backlog
The Trieste-based firm's order intake reached 16 billion euros ($18.66 billion), up 88% yearly, with a total backlog just over 61 billion euros, guaranteeing 7.5 years of work.
Future Business Plans
The group - which is set to approve a new business plan for 2026-2030 at the end of the year - confirmed its 2025 targets pointing to revenues at around 9 billion euros and core profit margin above 7%.
($1 = 0.8575 euros)
(Reporting by Romolo Tosiani in Gdansk, Giulia Segreti in Rome)
