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I ▸ in www.fincantieri.com PRESS RELEASE FINCANTIERI The sea ahead THE BOD APPROVES Q1 2021 RESULTS : GUIDANCE CONFIRMED , REVENUES¹ AT EURO 1.4 BILLION WITH IMPROVED EBITDA AND TOTAL BACKLOG AT EURO 34.4 BILLION Consolidated Q1 2021 results² • • • • • • • 2021 guidance confirmed : revenues + 25 % -30 % ( excluding pass - through activities ) and EBITDA margin at 7 % Revenues at euro 1,426 million , excluding pass - through activities³ , up by 9.1 % compared to Q1 2020 ( euro 1,307 million at March 31 , 2020 ) , in line with the forecasts for the first quarter of the year EBITDA4 at euro 101 million ( euro 72 million at March 31 , 2020 ) , EBITDA margin at 7.0 % , up by 27.3 % compared to March 31 , 2020 ( at 5.5 % ) , confirming the positive trend already shown in Q4 2020 COVID - 19 related extraordinary expenses at euro 14 million , mainly attributable to production inefficiency and expenses to safeguard personnel's health and safety Net Debt5 , at euro 1,617 million ( euro 1,062 million at March 31 , 2020 ) , as planned and consistent with both the quarter production volumes and the delivery schedule ( 7 cruise units for the year , of which 3 in Q3 ) ; year - end levels expected to be broadly in line with 2020 Total backlog at euro 34.4 billion , covering approximately 6.6 times 2020 revenues with Q1 order intake at euro 0.3 billion : backlog at euro 26.5 billion ( euro 27.7 billion at March 31 , 2020 ) , with 98 ships in backlog and soft backlog at approximately euro 7.9 billion ( approximately euro 4.2 billion at March 31 , 2020 ) Successful delivery of the naval vessel LSS Vulcano , as part of the renewal plan of the Italian Navy's fleet and of the expedition cruise vessel Coral Geographer , the second luxury ship for the Australian company Coral Expeditions Key messages • • Pivotal role acknowledged both at national and international level in core sectors as well as in new markets Continuing Innovation : seamless growth in know - how and innovative technologies The competitive advantage achieved will enable to seize of further opportunities in the naval market and in the renewable energy and specialized vessels one Highlights • Cruise - delivery schedule carried on as expected - Viking Venus , the first of five cruise units to be delivered by Italian shipyards , was handed over to shipowner Viking on April 15 in Ancona ( Italy ) 1 Excluding revenues from pass - through activities 2 The percentage figures found in the Document are calculated based on amounts expressed in Euro / thousand 3 Revenues from pass - through activities stand at euro 222 million 4 This figure does not include extraordinary and non - recurrent income and expenses ; please , refer to the paragraph Alternative Performance Measures 5 This figure does not include construction loans and it includes non - recurrent financial receivables ( at euro 99 million ) 6 Sum of backlog and soft backlog 7 Excluding revenues from pass - through activities 1