Fincantieri, the Italian shipbuilder, saw its shares jump by 10% after it unveiled plans to invest $600 million in acquiring four companies to bolster its underwater technology division. The acquisitions include Next Geosolutions, WSense, Graal Tech, and Defcomm, all of which are active in the subsea economy sector. This strategic move is aimed at creating a comprehensive industrial supply chain for underwater activities and accelerating the company's path to becoming a global leader in the underwater business.
The acquisitions are projected to significantly boost Fincantieri's financial targets. The company expects the deals to increase its pro-forma EBITDA by 9% and pro-forma net profit by 40% by 2026. These figures represent an acceleration of the industrial plan's goals for 2026 and 2028, improving the prospects for debt reduction and contributing to group net profit generation for over $1 billion by 2026.
This aggressive expansion into the underwater sector follows Fincantieri's focus on high-margin naval programs and defense, amidst rising geopolitical tensions. The company has also benefited from a recovery in cruise ship demand. Earlier, Fincantieri had acquired Leonardo S.p.A.'s "Underwater Armament Systems" business, indicating a consistent strategy to strengthen its control over critical underwater acoustic technologies. CEO Pierroberto Folgiero has previously stated the company is actively pursuing M&A opportunities, focusing on smaller, complementary deals rather than a single large transformational acquisition.
