Fincantieri Builds Integrated Underwater Technology and Services Platform With NextGeo, WSense, Graal Tech and Defcomm

Fincantieri Builds Integrated Underwater Technology and Services Platform With NextGeo, WSense, Graal Tech and Defcomm

(IN BRIEF) Fincantieri is pursuing four strategic acquisitions to strengthen its Underwater segment through marine survey services, underwater communications, autonomous underwater vehicles and autonomous surface drones. The transactions involve NextGeo, WSense, Graal Tech and Defcomm and require an initial investment of approximately €600 million. The enlarged underwater business is expected to generate more than €1.1 billion in revenue and around €220 million in EBITDA in 2026 on a pro-forma basis. Fincantieri expects the acquisitions to contribute more than €60 million to 2026 net profit, increase Group pro-forma EBITDA by 13% and raise pro-forma net profit by 40%.

(PRESS RELEASE) TRIESTE, 6-Jul-2026 — /EuropaWire/ — Fincantieri has signed or advanced agreements to acquire controlling interests in Next Geosolutions, WSense, Graal Tech and Defcomm, accelerating its plan to build a fully integrated underwater technology, platforms and services business.

The transactions represent an initial investment of approximately €600 million and are intended to expand Fincantieri’s role across marine survey, subsea services, autonomous underwater and surface systems, underwater communications and digital monitoring technologies.

Together with Fincantieri’s existing submarine business, WASS Submarine Systems, Remazel Engineering and IDS, the four companies will form an integrated underwater hub comprising eight specialist centres of excellence. The Group aims to combine hardware, software, communications systems, platforms and operational services into end-to-end solutions for defence, dual-use and commercial customers.

The new structure will allow Fincantieri to move beyond supplying individual technologies and vessels towards a broader service-led model covering the full underwater value chain, from seabed survey and inspection to infrastructure monitoring, maintenance, repair and autonomous operations.

The Group said the new businesses will be connected through shared product development, operational cooperation, cross-selling opportunities and economies of scale. The model will support applications including critical subsea infrastructure protection, maritime security, offshore renewable energy, offshore oil and gas, subsea cables and underwater robotics.

Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, said the acquisitions represent a major evolution in the Group’s underwater strategy.

“These transactions bring together technologies, industrial capabilities and operational expertise that are highly complementary,” Folgiero said. “By combining them within one integrated platform, we are strengthening our ability to serve defence and civil customers while building a more resilient and internationally competitive underwater business.”

Building a broader underwater services platform

The transactions will add new capabilities to Fincantieri’s Underwater segment, which generated €667 million in revenue in 2025.

On a pro-forma basis, the enlarged unit is expected to exceed €1.1 billion in revenue and generate approximately €220 million in EBITDA in 2026. Fincantieri expects this to bring forward its 2030 underwater revenue and profitability targets by four years.

The Group forecasts underwater revenue of around €1.4 billion in 2028 and €1.8 billion in 2030. Pro-forma EBITDA margin is expected to reach 19.2% in 2026, rise to 21% in 2028 and increase further to 23% by 2030.

The acquisitions are also expected to contribute more than €60 million to Group net profit in 2026. Fincantieri expects the transactions to increase pro-forma Group EBITDA by 13% and net profit by 40% compared with its 2026 Business Plan targets.

By 2028, the acquisitions are expected to support earnings-per-share growth of approximately 30%, while the expected benefit for 2030 is around 20%.

Fincantieri also expects commercial and industrial cooperation across the expanded platform to create up to €500 million in additional revenue over the next decade. Operational and cost synergies are projected to contribute more than €60 million in additional adjusted EBIT by 2030, rising to more than €90 million by 2032.

NextGeo to add survey, geoscience and offshore service capabilities

Fincantieri has signed a binding agreement with Marnavi to acquire a 52.60% controlling stake in Next Geosolutions Europe, known as NextGeo.

The agreement values NextGeo at €16.25 per share, implying a total equity value of €780 million. Following completion, Fincantieri intends to launch a mandatory public tender offer for the remaining NextGeo shares, with the objective of delisting the company from Euronext Growth Milan.

NextGeo provides marine survey, geoscience and offshore construction-support services. Its activities cover the full subsea project cycle, including survey work, installation support, inspection, maintenance, repair and decommissioning.

The company operates across offshore renewable energy, oil and gas and subsea cable markets and reported revenue of approximately €300 million in 2025.

Fincantieri is also negotiating arrangements with selected NextGeo managers and shareholders that would preserve their continued participation in the business through reinvestment and long-term governance arrangements.

WSense, Graal Tech and Defcomm to expand autonomous and connected capabilities

WSense is an Italian deep-tech company specialising in underwater communications and the Internet of Underwater Things. Originating as a spin-off from Sapienza University of Rome, the company develops hardware and software that enable underwater devices, sensors and autonomous systems to exchange information through adaptive wireless communication networks.

Fincantieri plans to acquire control of WSense through a dedicated vehicle in which the founders will reinvest a substantial portion of their shareholdings. Following the initial transaction phase, Fincantieri is expected to hold 61.95% of the vehicle and increase its stake to 75% within 24 months.

Graal Tech, a University of Genoa spin-off, develops modular and customisable underwater robotics technologies, including autonomous and remotely operated vehicles. Fincantieri has acquired a 51% stake in the company, subject to customary regulatory conditions, while the remaining interest will be governed by future put and call options linked to Graal Tech’s performance.

The company’s systems are already integrated into Fincantieri’s DEEP solution for protecting critical infrastructure and are used in commercial offshore, dual-use and defence applications.

Defcomm develops autonomous surface vehicles with proprietary navigation software, high endurance and advanced radio and satellite communications. Fincantieri has agreed to acquire an initial 49% interest through a combination of capital increase participation and direct share purchases. It will have the option to increase its holding to 51% within two years, followed by further option arrangements covering the remaining shares.

Integrated technologies for defence, infrastructure and offshore activity

Fincantieri expects the combined businesses to work together across complex underwater operations.

For example, NextGeo’s survey and offshore services could be delivered using work vessels built by Vard, supported by Remazel launch-and-recovery systems, Graal Tech underwater drones and WSense communication technology.

The integrated model is intended to support autonomous mine countermeasures, seabed monitoring, subsea infrastructure protection, inspection services, port security and offshore construction activity.

Fincantieri said the underwater market is gaining strategic importance because of growing dependence on subsea infrastructure, including ports, pipelines, regasification terminals, offshore wind installations, power interconnectors and communications cables.

The Group expects its target underwater market, including submarines, sensors, effectors and unconventional underwater systems, to reach a cumulative value of approximately €155 billion between 2026 and 2030. Demand for unconventional underwater systems is expected to grow rapidly as defence customers and infrastructure operators seek more autonomous, connected and resilient capabilities.

Financing and next steps

The acquisitions will be financed primarily through the €500 million accelerated bookbuilding capital increase completed by Fincantieri in February 2026, together with other available Group resources.

Fincantieri said the transactions will not affect its 2026 Net Debt-to-EBITDA guidance and are expected to improve its deleveraging targets for 2028 and 2030.

Completion of the individual transactions remains subject to customary regulatory, antitrust, foreign direct investment and Golden Power clearances, where applicable.

The Group said the structure of the deals is designed to retain key managers, founders and technical teams, supporting continuity in the acquired businesses while preserving their specialist capabilities within Fincantieri’s expanding underwater platform.

Conference call on the Acquisitions

On 6 July 2026 at 3.00 PM CEST, a conference call for analysts, institutional investors and the media will be held with Fincantieri’s Chief Executive Officer and Managing Director, Pierroberto Folgiero, to present further details on the acquisitions announced today. For further information regarding the conference call:

To participate in the conference, it will be necessary to connect in the following ways:

Access to the audio webcast service through the following link.

Diamond Pass: Access with pre-registration and personal PIN to the following link.

Telephone connection via operator:

Italy +39 028020911

United Kingdom +44 1212818004

United States +1 7187058796

Hong Kong +852 58080984 then press *0

Browser HD Audio Connection

The presentation slides will be made available on the web page www.fincantieri.com, Investor Relations section.

SAFE HARBOUR STATEMENT

This Document contains certain forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words “believes ,” “expects,” “predicts,” “intends,” “projects,” “plans,” “estimates,” “aims,” “foresees,” “anticipates,” “targets,” and similar expressions. The forward-looking statements contained in this Document, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts reflecting current views with respect to future events and plans, estimates, projections and expectations which are uncertain and subject to risks. Market data used in this Document not attributed to a specific source are estimates of the Company and have not been independently verified. These statements are based on certain assumptions that, although reasonable at this time, may prove to be erroneous. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. If certain risks and uncertainties materialize, or if certain underlying assumptions prove incorrect, Fincantieri may not be able to achieve its financial targets and strategic objectives. A multitude of factors which are in some cases beyond the Company’s control can cause actual events to differ significantly from any anticipated development. Forward-looking statements contained in this Document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Statements which include the word “ambition” should not be interpreted as guidance.

Risks, uncertainties and assumptions that could affect the Company’s business and results of operations include, without limitation, factors relating to the impact of macroeconomic and geopolitical trends, changes and events, volatility in global capital markets and foreign currency, increases in benchmark interest rates, the effects of inflation and instability of financial institutions and risks associated with the Company’s international operations.

No one makes any representation, whether express or implied, as to the accuracy, completeness and correctness of the information contained herein nor undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Market data used in this Document not attributed to a specific source are estimates of the Company and have not been independently verified. Forward-looking statements speak only as of the date of this Document and are subject to change without notice. No representations or warranties, express or implied, are given as to the achievement or reasonableness of, and no reliance should be placed on, any forward-looking statements, including (but not limited to) any project ions, estimates, forecasts or targets contained herein.

Fincantieri does not undertake to provide any additional information or to remedy any omissions in or from this Document . Fincantieri does not intend, and does not assume any obligation, to update industry information or forward-looking statements set forth in this Document . This Document does not constitute a recommendation regarding the securities of the Company.

Fincantieri is one of the world’s largest shipbuilding groups, the only player active in all high complexity marine industry sectors. The Group is a leader in the construction of cruise ships, naval and offshore vessels, and stands out for its extensive experience in the development of underwater solutions, thanks to its integrated industrial structure capable of managing and coordinating all activities related to the commercial, defense, and dual-use sectors. It holds a strong presence in key markets also thanks to the internalization of high valueadded, distinctive technologie s; it is also a leader in sustainable innovation and in the digital transformation of the shipbuilding sector. The company is active in the field of mechatronics, electronics, and digital naval systems, as well as in cybersecurity, artificial intelligence, and marine interiors solutions. It also offers a wide range of after-sales services, including logistic support and fleet assistance. With over 230 years of history and more than 7,000 ships built, Fincantieri is a global player with a production network of 18 shipyards worldwide and over 24,000 employees; It maintains its know-how, expertise and management centers in Italy, where it directly employs approximately 13,000 workers and creates around 90,000 indirect jobs.

www.fincantieri.com

Media Contact:

Press Office
Tel. +39 040 3192111
press.office@fincantieri.it

Investor Relations
Tel. +39 040 3192111
investor.relations@fincantieri.it

SOURCE: FINCANTIERI