Europe’s Militarization Brings Record Profit to EU’s Largest Shipbuilder
U.S. SP4 James A. Loux army vessel is seen at Albania’s main port of Durres, Saturday, May 1, 2021.
MOSCOW (Sputnik) — Italian company Fincantieri, Europe’s largest shipbuilding group, posted record profits and orders amid the accelerated militarization of European countries, Sputnik found on Wednesday after reviewing the company’s industrial plans. Fincantieri, which works closely with the defense sector, reported EBITDA of 681 million euros (around $776 million) in 2025, up 33.9% from 2024. At the same time, new orders surged 32.4% to a record 20.3 billion euros, the documents said. In 2025, Fincantieri delivered 24 vessels to unnamed customers. Although the company did not disclose the full list of clients in its report, it said customers last year included companies and government entities from Italy, France, the United States, Switzerland and Indonesia. Deliveries included warships, specialized offshore vessels and cruise ships. The company’s order backlog stands at 97 vessels, with deliveries scheduled through 2037. Under its long-term development strategy through 2030, Fincantieri expects to increase its net profit from 117 million euros to around 500 million euros by the end of the decade. Kremlin spokesman Dmitry Peskov said the European Union was spending vast sums on militarization and that Russia was taking that into account. He also described Europe’s militarization as a dangerous trend that does not contribute to easing tensions. Russian President Vladimir Putin has previously said that NATO, by increasing its military budgets, is fueling global militarization and an arms race. He has also argued that false claims about an alleged Russian threat are being used to extract money from taxpayers and justify Western elites’ economic policy failures.
WorldEurope in 2025: Falling Into the Militarization Trap3 January, 12:00 GMT
