Fincantieri closed the first 9 months of 2026 with a record backlog of €44.7 billion, up 8.8% from €41.1 billion at the end of 2025.

Including the soft backlog of €27.9 billion (contractual options, letters of intent and advanced-negotiation contracts not yet included in the backlog), total workload rises to €72.6 billion (+14.9%), equal to 7.9 times 2025 revenues, with deliveries scheduled through 2036. Orders acquired in the period total €9.7 billion, versus €16.0 billion in the first 9 months of 2025, and exclude €12.3 billion in contracts signed but not yet effective as of September 30. In defense, the main contract covers 2 DDX destroyers for the Italian Navy, worth about €1.8 billion to Fincantieri (€800 million in options), and will generate revenues starting in 2027.

EBITDA rises to €511 million (+10.9%), with a margin of 7.7% (6.9% in the first 9 months of 2025), driven by shipbuilding and Underwater, where revenues reach €531 million (+37.6%). Revenues fall slightly to €6,605 million (-1.8%), partly because 2025 was boosted by the Indonesian order for 2 Multipurpose Combat Ships (PPA).

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