The Diplomat
Navantia (SEPI Group) reached contracts worth more than 1,700 million euros in 2022, tripling the value of the orders formalised in 2021. At the end of 2022, it had a portfolio valued at 7,364 million euros, the public company reported yesterday.
In 2022, the contracting of the entire Navantia Group – including its subsidiaries and investees – amounted to 1,742 million euros. Of the total amount of new contracts, 1,126 million corresponds to the Defence sector. By business lines, Shipbuilding (which includes the Repairs area) signed contracts for 1,058 million euros in 2022, while Systems and Services reached 241 million euros and Green Energies, under the Navantia Seanergies brand, another 400 million euros.
These high levels of contracting will be maintained in the coming years, reaching close to 10,000 million euros in the 2023-2027 period as a result of Navantia’s intense commercial work and positioning in markets with high added value and high demand. The orders, which will require the incorporation of around 1,500 people, will allow the company to boost its turnover to over 2,000 million euros a year from 2024 and to achieve a balanced profit and loss account in the coming years.
As a result of the implementation of the various programmes underway, revenues amounted to 1,342 million euros.
The company closed the year with a negative result of 96.9 million euros, due in part to the increase in raw material and energy prices, as well as interest rates, although improving the company’s forecast for the year.
During the year, the group made investments amounting to 82.4 million euros, mainly aimed at improving facilities, machinery and digital technologies to optimise the fulfilment of contracts.
Among them, the San Fernando flat panel line, the completion of the gate of dock 4 of Reparaciones in the Bay of Cadiz, the investments for the digital transformation and the adaptation of the facilities for the XXL monopiles factory in Fene stand out.
During this financial year, Navantia has strengthened its international activity by reinforcing its subsidiary in Australia and creating the subsidiaries Navantia Arabia Limited and Navantia UK Limited, to support the company’s activity in these areas.
In addition, Navantia has acquired a 5 percent stake in Enagás Renovable, as part of the company’s commitment to decarbonisation and green energy, embodied in the Navantia Seanergies brand.
In terms of European collaboration and R&D&I projects, in 2022 Navantia was awarded six European Defence Fund (EDF) projects, in collaboration with European industry, obtaining a European budget contribution of 24 million euros to be developed over three years. These projects will enable Navantia to consolidate its leadership in key strategic areas for its business, such as the digitalisation of naval platforms and the development and integration of unmanned vehicles and new generation systems.
