Italy’s Fincantieri said its sales rose 18% in the first-quarter to 1.7 billion euros ($1.76 billion) driven by a strong performance of its core shipbuilding business.
Earnings before interests, taxes, depreciation, and amortization (EBITDA) were up 17.2% at 118 million euros. Its EBITDA margin was flat at 7.0% despite commodity price rises.
For the full year it said it expected production activities to remain at full swing with a growth in revenues higher than pre-pandemic levels and a consolidation of margins.
The group is gearing up for the exit of current chief executive Giuseppe Bono, who will retire after being at the helm of the company for the last 20 years.
($1 = 0.9525 euros)
