Fincantieri registered a heavy loss for 2022, primarily as a result of incurring several non-recurring expenses throughout the year.

The Pierroberto Folgiero-led shipbuilder reported a €324m ($342m) net loss for the year versus a €22m profit for the prior year after absorbing €238m in one-time costs.

Those expenses included €164m in impairment costs recorded by Fincantieri and its subsidiary Vard Cruise, €52m in asbestos-related litigation costs and €20m in costs related to not fulfilling obligations set forth in offset agreements.