Over 400 billion in new orders! Shipbuilding giant releases new five-year plan.

Recently, the Italian shipbuilding group Fincantieri unveiled its next-phase long-term strategic plan, which will focus on expanding its business scale in the defense and underwater equipment sectors as well as in specialized vessels.

Fincantieri expects its group revenue to increase by 40% by 2030, with improvements in profit margins and profitability. EBITDA growth is projected to reach 90%, and net profit is expected to reach €500 million (approximately $587 million, or RMB 4.122 billion) by 2030.

Fincantieri stated that its solid growth foundation stems from its core shipbuilding business, in which it enjoys a recognized leading position in cruise ship construction, and from its strengths in the specialized offshore vessel sector through its Norwegian subsidiary VARD. In recent years, Fincantieri has continuously strengthened its defense business and, following the completion of its acquisition of Leonardo’s Underwater Weapons and Systems (UAS) business in May 2025, officially launched a new underwater equipment division. This new division will focus on the development of submarine defense systems, particularly torpedoes, countermeasures, and sonar systems.

As of September 30, 2025, Fincantieri reported total order backlog amounting to €41 billion (approximately $48 billion or RMB 338.039 billion), representing a 32% increase compared to the end of 2024. The company’s order backlog includes 100 vessels, with deliveries expected to continue through 2036.

According to the new strategic plan, Fincantieri aims to increase its revenue from the projected €9 billion in 2025 to approximately €11 billion by 2028 and further to €12.5 billion by 2030. Supporting this goal are new orders expected to total up to €50 billion (about RMB 413.782 billion). Among these, the defense business will serve as a key driver of revenue growth. The company is committed to improving profit margins, enhancing operational efficiency, and optimizing its business structure.

Pierroberto Folgiero, CEO and Managing Director of Fincantieri, stated: “The 2026-2030 Business Plan is first and foremost an industrial manifesto rooted in a forward-looking strategic vision. Both the commercial and defense sectors are currently experiencing broadly positive macro trends, placing us at a golden era for industry development. This plan will guide us into a new phase of growth—strengthening our production capacity, enhancing our competitiveness, and focusing on our core businesses and operational efficiency.”

The long-term strategic plan from 2026 to 2030 will rapidly strengthen Fincantieri’s global production system, enabling the company to seize multiple opportunities presented by rapidly growing markets. Built on a foundation of operational excellence, this strategy will ensure that order volumes remain at historically high levels over the coming years. Through targeted initiatives aimed at enhancing shipyard efficiency, strengthening the supply chain, and optimizing costs, the company will secure a promising pipeline of cruise ship projects with robust and continuously improving profitability. By implementing an investment strategy tailored to meet accelerating demand, Fincantieri will shorten delivery cycles and expand production capacity. The company anticipates securing new orders in Italy, the United States, and other export markets in 2026, while structurally bolstering the Group’s international competitiveness and increasing its production capacity to capitalize on macro trends driving global defense growth. Furthermore, leveraging Vietnam’s high-capacity assets and focusing on product offerings in high-tech sectors will enable Fincantieri to achieve significant margin improvements. In non-traditional underwater business segments, the company will build a more comprehensive and competitive product portfolio, driving strong growth in defense, commercial, and dual-use markets. Building on synergies from its traditional underwater business and leveraging its network of agreements and partnerships, Fincantieri will ensure full coverage of demand while leaving room for non-organic growth and expanding VARD’s presence in high-value-added markets. With its unique capabilities in the field of highly complex shipbuilding, Fincantieri is ideally positioned to capture market opportunities and provide long-term visibility for its business, supply chain, and stakeholders.

Among these, the cruise ship business remains a key pillar for Fincantieri, accounting for over 49% of its market share. In the first three quarters of this year, Fincantieri secured orders for 11 new cruise ships, bringing the total number of cruise ships currently under construction to 36. The company believes that the global cruise passenger market will continue to grow at an average annual rate of 4.5% from 2024 to 2032, thereby driving sustained growth in this business segment.

Meanwhile, Fincantieri is looking to its defense shipbuilding business as its primary driver of growth. The company plans to increase its production capacity, including doubling the production capacity at its Italian defense shipyard. Fincantieri points out that the current geopolitical environment presents significant growth opportunities for defense shipbuilding. By 2030, global government ship orders are projected to reach a total of $2.93 trillion, representing an 18% increase from the $2.47 trillion in orders recorded in 2025.

Fincantieri stated that it has identified potential business opportunities exceeding €56 billion over the three-year period from 2026 to 2028, of which approximately €23 billion are assessed as having medium-to-high probability. The first orders are expected to be awarded in 2026. The newly established underwater equipment business segment is projected to double in size between 2026 and 2030, reaching an estimated €43 billion, up from the current €22 billion.

In the specialized offshore engineering vessel sector, Fincantieri will also maintain its global leadership position. The construction and maintenance of energy and communication infrastructure will continue to drive demand for highly specialized vessels, including cable-laying ships, offshore wind construction and operation vessels (CSOVs), and service operation vessels (SOVs). The Group’s portfolio is renowned for its advanced offshore engineering vessels equipped with remote control systems and green propulsion solutions. These innovative solutions are poised to profoundly transform offshore operations by enhancing efficiency, safety, and sustainability.