Impressive Revenue Growth
Revenues grew by 20.5% year-on-year to EUR 6.725 billion, supported by strong contributions from all business segments, particularly Shipbuilding.
Significant Profitability Increase
EBITDA posted a 40.4% increase, reaching EUR 461 million with an EBITDA margin improvement to 6.9% from 6.3% at year-end 2024.
Record-High Backlog
The backlog reached EUR 41 billion, increasing 32.3% compared to the end of 2024 with a total backlog of EUR 61.1 billion, approximately 7.5x 2024 revenues.
Strong Order Intake
Order intake was EUR 16 billion, rising by 88.4% compared to the previous year with a book-to-bill of 2.4x.
Operational Efficiency in Cruise Segment
Higher operational efficiency in Cruise and a greater contribution from the defense segment drove margin expansion.
Deleveraging Progress
Net debt improved slightly to EUR 1.65 billion with a net debt-to-EBITDA ratio of 2.6x, down from 3.3x at the end of 2024.