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.
