Fincantieri Reports Positive Financial Results for 2021

Fincantieri has reported adjusted net income of 92 million euros on revenues of 6.7 billion euros for the year ended Dec. 31, 2021, compared to a loss of 245 million euros on revenues 5.2 billion euros for the previous year.

The shipbuilding segment dominated with revenues of 5.7 billion euros.

The company reported a back log of 115 ships with contract values of 35.5 billion euros slated for deliveries through 2029.

During 2021, Fincantieri delivered 19 ships from 12 shipyards, including eight cruise ships of which six were delivered in the second half of the year. The cruise ships were the Viking Venus, Valiant Lady, MSC Seashore, Rotterdam, Silver Dawn, Le Commandant Charcot, Hanseatic Spirit and Viking Octantis.

In addition, the offshore and specialized vessel segment delivered two expedition vessels to Coral Expeditions and Island Escape Cruises, respectively, built at the Vung Tau shipyard in Vietnam.

Seven more cruise ships were on the schedule for deliveries in 2022: the Discovery Princess (delivered in March), Viking Mars and Neptune, Resilient Lady, Norwegian Prima, MSC Seascape and Viking Polaris.

Another seven are slated for deliveries in 2023, six in 2024, five in 2025, three in 2026 and one “beyond 2026,” according to Fincantieri’s year-end report.

During the year, Fincantieri also made several strategic initiatives including teaming up with partners to develop electricity-powered solutions for port ground logistics, lithium batteries, green hydrogen, and with MSC Cruises and SNAM, to study the requirements for ocean-going hydrogen-powered cruise ships.

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