Italian shipbuilder Fincantieri has logged higher earnings in the first nine months, but said the result was hit by losses at its Vard unit.
The company said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at €287m ($316.5m), up from €281m a year ago.
"The results are impacted by the negative contribution of Vard, which suffers from the ongoing effect of the deep crisis of its reference market of oil and gas, and from the costs incurred following its entrance into the cruise shipbuilding market," CEO Giuseppe Bono said.
Revenue increased by 9.7% to €4.25bn.
The order intake during the period was worth €6.8bn - 17 vessels, including 11 cruiseships for Oceania, Regent Seven Seas Cruises, Viking, MSC, and Princess.
The total order backlog is now €32.3bn, comprising 106 ships.
Earlier this week, Italian financial police raided 19 companies carrying out work for Fincantieri in a probe into alleged fraud and exploitation of overseas workers.
Fincantieri denies any involvement.
