Fincantieri chief executive Giuseppe Bono is targeting a return to pre-Covid form later this year.
The Italian shipbuilding giant racked up hefty pandemic-related losses of €245m ($296m) in 2020.
Revenue for the 12-month period ending 31 December 2020 dropped 11% to €5.1bn.
But the Trieste-headquartered company believes revenue will rebound. It forecasts growth of 25% to 30% this year as work resumes on its massive order backlog.
Fincantieri said that would be enough to enable the company to reinstate dividend payments from 2022.