Italian shipbuilder Fincantieri reported a 2011 year-end net profit of $13 million on revenue of $3.1 billion.
Its earnings before interest, taxes, depreciation and amortization (EBITDA) was $180 million.
Fincantieri acquired $2.3 billion in new orders last year, the company said in a financial statement.
In addition to military vessel contracts (including a total of 22 ships for the U.S. Navy and U.S. Coast Guard) Fincantieri won contracts to build one cruise ship each for P&O Cruises and Costa Cruises, and one small luxury ship for French cruise line Compagnie du Ponant.
Calling the shipbuilding industry “extremely depressed,” Fincantieri CEO Giuseppe Bono said the company has maintained its leading position thanks to a “strong financial and capital structure.”
Fincantieri also owns the Lloyd Werft shipyard in Bremerhaven, Germany.
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