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σ ▸ in www.fincantieri.com PRESS RELEASE FINCANTIERI The sea ahead THE BOD APPROVES 1H 2021 RESULTS : REVENUES UP BY 28 % , EBITDA + 84 % , TOTAL BACKLOG AT EURO 37 BILLION , BACK TO PROFITABILITY AND 2021 GUIDANCE CONFIRMED Consolidated 1H 2021 results ◉ 2021 guidance confirmed : revenues up by over 25 % and EBITDA margin at 7 % despite increasing commodities ' prices ■ Revenues at euro 3,026 million¹ , up by 28 % compared to 1H 2020 ( euro 2,369 million ) ■ EBITDA² at euro 219 million ( + 84 % vs. 1H 2020 ) and EBITDA margin at 7.2 % , excluding pass - through activities ( vs. 5.0 % in 1H 2020 ) ■ Positive Adjusted Net Income³ at euro 49 million ( negative at euro 29 million in 1H 2020 ) ■ ■ Positive Net Income at euro 7 million ( negative at 137 million in 1H 2020 ) , net of asbestos - related ( euro 29 million ) and COVID - 19 related ( euro 22 million ) extraordinary items Net Debt4 at euro 1,617 million ( euro 1,062 million at December 31 , 2020 ) , steady in the quarter and consistent with the production program and the deliveries schedule ( three cruise ships delivered in July for an overall amount of approx . euro 1.5 billion ) ; year - end 2021 expected to be in line with FY 2020 Operations ■ " Total backlog of 111 ships , euro 37 billion , 7.1 times 2020 revenues , excluding revenues from pass- through activities : - Backlog : euro 27.6 billion with 93 ships to be delivered up to 2029 Soft backlog : approximately euro 9.4 billion Record - high production volumes led by the hefty workload and deliveries schedule , production hours at 8.4 million vs. 5.6 million in 1H 2020 ■ COVID - 19 successful launch of the vaccination campaign across the Group's Italian yards " Delivery of 7 ships from 6 shipyards in 1H and expected delivery of 6 cruise ships for 2H 2021 " Fincantieri chosen as prime contractor for 6 FREMM class frigates supply to the Indonesian Navy ■ Fincantieri Marinette Marine : FFG - 62 second unit confirmed by the US Navy ■ Infrastructures : signed contract for the construction of cruise terminal for MSC at PortMiami ( US ) VARD : order for the construction of residential yacht - liner Somnio " Fincantieri NexTech : ongoing cooperation with Autostrade Tech and IBM to develop a predictive monitoring system for infrastructure Strategic initiatives " Cold Ironing : Lol with Enel X for the development and management of next - generation port infrastructure with low environmental impact and electricity - powered solutions for ground logistics Ecological transition : production of lithium - ion batteries through the newly founded Power4Future 1 Excluding pass - through activities at euro 225 million . Please , refer to the definition of " pass - through activities " in the paragraph Alternative Performance Measures 2 This figure does not include extraordinary and non - recurring income and expenses ; please refer to the paragraph Alternative Performance Measures 3 Profit / ( loss ) for the period before extraordinary and non - recurring income and expenses 4 This figure does not include construction loans and it includes non - recurrent financial receivables 5 Sum of backlog and soft backlog 1