The turnaround in financial results for the first half of 2021, after the disruption to markets and operations wrought by the onset of the pandemic, has given succour to a multi-faceted business development strategy. A central pillar of the group's approach is the sustenance of large-scale resourcing of RD. Moreover, a long-term mindset is expressed in the fact that capital expenditure over the first six months of last year was nearly one-third higher than the corresponding period of 2020. Sustaining very high levels of revenue plough-back into the business is perhaps a mark of majority ownership by the state, which in this case clearly has a commitment to retaining and nurturing the industrial foundation and technological knowledge base in the long-term, rather than simply pursuing short-term socio-economic goals. The group currently controls 18 shipyards in Italy, Norway, Romania, the USA, Vietnam and Brazil, plus other subsidiaries around the world, but it maintains its know-how and management centres in Italy, where half its direct employment of 20,000 globally is concentrated.
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