NO ORDER CANCELLATION AND TOTAL BACKLOG UP TO ALMOST EURO 38 BILLION COVID-19 emergency

The Board of Directors of FINCANTIERI, chaired by Giampiero Massolo, has examined and approved the Half year report at 30 June 2020, prepared in accordance with the international financial reporting standards (IAS/IFRS).

The Board of Directors also appointed Mr. Fabio Gallia as General Manager of the Company, wishing him the best. The Board is positive that Mr. Gallia, with his commitment and his professionalism, will contribute to the achievement of increasingly challenging and ambitious goals for the Group.

The Board then expressed its gratitude to Mr. Alberto Maestrini for the professionalism, the commitment and abnegation he exercised during his tenure as General Manager, wishing him the best for the prestigious professional challenges that he will embrace within the Group.

During the Board meeting Giuseppe Bono, Chief Executive Officer of Fincantieri, said: “

We faced this – for many reasons – dramatic time with the utmost determination as so the company would emerge from it stronger than before. This approach has proven right and it has allowed us not only to avoid any order cancellation, but, at the same time, to win noteworthy tenders. Our backlog has reached, once again, a new record. Today we can claim not only the world leadership in the construction of cruise ships, but also the one for the naval surface ships.

We lived the Coronavirus emergency, safeguarding our people and our subcontractors, representing a primary assets for Fincantieri and for the Country. We succeeded as we implemented some safety measures appreciated by more than 91% of the appreciation of our employees, as resulted by a survey carried out throughout the Group. It is worth remarking that at the current moment the presence of staff in our facilities stands at 30,000 people. It is evident that our economic and financial results are influenced by the production slowdown due to the Coronavirus. However, our current backlog allows us to look at the future with confidence, confirming a workload for the next 6/7 years with consequent financial and economic performances in line with the previous Business Plan’s targets. With regard to the other decisions taken by the Board of Directors, I would like thank Mr. Alberto Maestrini not only for the great dedication and professionalism excerised during its tenure of General Manager over the past four years but also for the absolute loyalty to the company in which he will continue to embrace important and delicate roles. My personal welcome, along with the one of the company, goes to Mr. Fabio Gallia, appointed by the Board as the new General Manager. His prestigious roles as Chief Executive Officer in many leading Italian companies and as member of numerous Board of Directors mirror his outstanding professional expertise”.