Listen to the audio version of the article
Deal closed. Fincantieri has concluded the agreement for the acquisition of 100% of Remazel Engineering from Advanced Technology Industrial Group. This was announced in a press release which specifies that the main terms and conditions of the acquisition had already been the subject of a communication made to the market on December 1st. In the note Fincantieri states that the closing of the operation, entirely financed with its own resources, should take place “within the first quarter of 2024 upon the occurrence of certain conditions precedent typical for operations of this nature”.
The acquisition
The acquired company active in solutions for the energy transition seems to fit the boost to margins that comes to Fincantieri from offshore renewables orders. The world leader in the naval construction and design sector, in fact, closed the first nine months of the year taking advantage of the boost in orders coming from the contracts acquired in defense and offshore wind. The accounts are thus archived with a gross operating margin of 276 million euros, up by 60%, and with revenues of 5.4 billion euros, up by 1.3%. The EBITDA margin is therefore 5.1%, an improvement compared to 3.2% a year ago.
The group’s guidance for the 2023 financial year envisages activity volumes that will allow it to consolidate revenues at 2022 levels, guaranteeing a margin of around 5%.