Fincantieri board approves 1h 2018 results

July 27, 2018 – The Board of Directors of FINCANTIERI S.p.A. ("Fincantieri" or the "Company"), chaired by Giampiero Massolo, has examined and approved the Half year financial report at June 30, 2018, prepared in accordance with international financial reporting and accounting standards (IAS/IFRS). During the Board meeting Giuseppe Bono, Fincantieri's Chief Executive Officer, said: “Fincantieri proved once more its ability to transform its industrial and commercial strategy into a solid economic and financial performance. Revenues, profits and margins are increasing if compared to last year, and will witness a further improvement in the second half of the year, confirming the Business Plan guidelines.

I would also like to highlight once more our outstanding ability to acquire new orders. Standing already at a record level at the end of the first half, with the new orders acquired during July our backlog now exceeds euro 32 billion and testifies our ability to build and deliver on time high value added products. These orders will ensure workload for all the Italian shipyards in the coming years; in 2018 alone, we will deploy 15 millions of production hours, giving a fundamental contribution to the Country’s exportations. Fincantieri is a strong Group that was able, with its own forces, to lay the foundations for a bright future and that will ensure stability for the years to come in terms of both workload and margins. Leveraging on this strength, Fincantieri will be a protagonist in the consolidation of the European shipbuilding sector.”