Fincantieri expands underwater business with €600 million acquisition strategy

Monday 06 - 08:45

By: Sahili Aya

Fincantieri expands underwater business with €600 million acquisition strategy

Italian shipbuilding group Fincantieri is significantly expanding its footprint in the underwater technology sector through a series of acquisitions worth approximately €600 million, strengthening its position in one of the fastest-growing segments of the maritime industry.

The company announced that it has reached agreements to acquire majority stakes in four Italian firms specializing in subsea technologies and marine services, a move designed to accelerate the development of its underwater business and broaden its technological capabilities.

Four acquisitions strengthen underwater portfolio

Under the agreements, Fincantieri will acquire controlling interests in Next Geosolutions, WSense, Graal Tech, and Defcomm, each operating in specialized areas of underwater innovation.

The acquisitions bring expertise across several strategic fields, including marine surveying and geoscience, offshore engineering support, autonomous underwater and surface drone systems, and advanced wireless communication technologies designed for the emerging Internet of Underwater Things (IoUT).

By combining these complementary businesses, Fincantieri aims to create a more integrated offering for commercial, industrial and defense-related maritime operations.

Financial targets reached ahead of schedule

The expansion is expected to dramatically increase the scale of Fincantieri's underwater division.

On a pro forma basis, the business is projected to generate approximately €1.1 billion in revenue and €220 million in EBITDA during 2026, allowing the company to achieve objectives originally outlined in its 2030 strategic plan four years earlier than anticipated.

The stronger earnings profile reflects growing demand for advanced underwater technologies across sectors ranging from offshore energy and scientific research to security and naval applications.

Positive impact on group profitability

Fincantieri expects the newly acquired businesses to contribute more than €60 million in additional net profit during 2026.

The company also forecasts a substantial improvement in shareholder returns, with earnings per share expected to increase by roughly 30% by 2028 and 20% by 2030.

Across the broader group, the acquisitions are projected to lift pro forma EBITDA by approximately 13% in 2026 while boosting pro forma net profit by around 40%.

Expansion financed without increasing leverage

The acquisition program will be funded primarily through proceeds from Fincantieri's €500 million capital increase, completed earlier this year, together with existing corporate resources.

According to the company, the transactions will not alter its financial leverage guidance for 2026, as management expects to maintain previously announced net debt-to-EBITDA targets despite the sizeable investment.

The latest expansion underscores Fincantieri's strategy of positioning itself as a leading European player in advanced underwater technologies, an area attracting increasing investment as governments and industries seek to enhance offshore infrastructure, maritime security and subsea digital connectivity.