Navantia receives 598 million euros in state funding

The Spanish state provided 598 million euros to Navantia during 2025 through three participatory loans granted by the State Society of Industrial Participations (SEPI). These operations, totaling 159 million euros in June, 186 million in July, and 253 million in December, are intended to strengthen the shipyard's equity.

Despite a record order book of 12.826 billion euros at the close of 2025—up from 8.163 billion euros in 2024—Navantia reported a loss of 149 million euros for the year, a 23% increase from the previous year's loss of 121 million euros. The company attributed part of these losses to its international subsidiaries, specifically the Belfast-based shipyard Harland & Wolff, which has required significant investment for its recovery. Navantia aims to return to profitability by 2027, with projected turnover near 3 billion euros. Major ongoing projects include the F-110 frigates, S-80 submarines, and new corvettes for Saudi Arabia.