That range compares with the company’s previous forecast of 700 million to 710 million euros. Fincantieri reported Ebitda of 511 million euros for the first nine months, up from 461 million euros a year earlier, while its Ebitda margin rose to 7.7% from 6.9%.

Shipbuilding generated 335 million euros of Ebitda, compared with 316 million euros in the same period last year. Ebitda from underwater operations increased to 93 million euros from 67 million euros.

Revenue slipped to nearly 6.61 billion euros. Shipbuilding remained the largest contributor, with 4.56 billion euros, down 6.7% year on year. Underwater revenue climbed nearly 38% to 531 million euros.

Fincantieri maintained its full-year revenue forecast of roughly 9.3 billion to 9.4 billion euros and expects net profit of 140 million to 180 million euros. The 2026 Ebitda guidance is equivalent to $793 million to $804.1 million.