Somec’s Oxin Wins Record €53 Million Cruise Ship Galley Contract

Somec S.p.A. ( (IT:SOM) ) has shared an announcement.

Somec’s Talenta division, via subsidiary Oxin, has secured a record €53 million contract to design and build the kitchens, pantries, catering areas and bars for two next-generation cruise ships at a major Italian shipyard for a German cruise operator. The 14,000-square-metre supply includes an onboard brewery production line, reflecting rising technical demands in food and beverage systems and reinforcing Oxin’s specialization in integrated galley solutions.

The order, the largest in Oxin’s 22-year history, is expected to generate economic benefits between 2027 and 2030, ahead of ship deliveries scheduled for 2030–2031. Management says the deal strengthens Oxin’s leadership in turnkey professional galleys and enhances the group’s long-term order backlog visibility, underscoring the strategic weight of cruise sector newbuild programmes for Somec’s future growth trajectory.

The most recent analyst rating on (IT:SOM) stock is a Buy with a EUR19.00 price target. To see the full list of analyst forecasts on Somec S.p.A. stock, see the IT:SOM Stock Forecast page.

More about Somec S.p.A.

Somec S.p.A., listed on Euronext Milan, specializes in the engineering, design and construction of complex turnkey projects in civil and naval sectors. Through its Horizons, Talenta and Mestieri divisions, the group delivers engineered systems for shipbuilding and façades, professional kitchens, and customized interiors, operating globally with over 1,000 employees and significant 2024 revenues.

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Technical Sentiment Signal: Strong Sell

Current Market Cap: €98.31M

For detailed information about SOM stock, go to TipRanks’ Stock Analysis page.