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Navantia Reduces Losses, Eyes Surplus with Record Defense Contracts

The public naval company closed 2025 with €6.627 billion in new contracts, quadrupling the previous year's figure and marking a path towards financial balance.

Generic image of a shipyard with a ship under construction.
IA

Generic image of a shipyard with a ship under construction.

Public shipyard Navantia concluded the 2025 fiscal year with a deficit of -€149 million, though its record €6.627 billion in new contracts, boosted by the defense sector, sets the course for financial equilibrium.

The Navantia Group finished the 2025 fiscal year with a consolidated result of -149 million euros, a figure reflecting the impact of its international subsidiaries, particularly in the United Kingdom. Despite losses, the company has achieved a record €6.627 billion in new contracts, quadrupling the orders from 2024.
This increase in contracting, primarily driven by defense contracts in the domestic market and international consolidation, has raised the order backlog to €12.826 billion. Approximately 88% of this backlog is in the defense sector, ensuring workload and activity stability across the company's centers in the medium term.
Navantia's consolidated revenue in 2025 reached €1.978 billion, a 30% increase from the previous year. The execution of major programs such as the F-110 frigates, S-80 submarines, and sustainment contracts with the Navy and the US Navy have been key. Navantia's individual company reported a revenue of €1.728.5 million, a 23% increase.
The company has made an investment of €120.2 million in tangible assets and €4.9 million in intangible assets, highlighting advancements in the Digital Block Factory in Ferrol and the Flat Panel Line in Puerto Real. The group's workforce stood at 6,761 people.
Navantia maintains a significant impact on Spain's industrial fabric and employment, generating 29,435 jobs and contributing €1.850 billion to the national GDP in 2025. The company's activity generated €744 million in GDP in A Coruña, €648 million in Cádiz, and €459 million in Cartagena.