A public shipbuilding and naval technology company
Navantia, S.A., S.M.E. Unipersonal is the Spanish parent of a group engaged in shipbuilding, systems, repairs, through-life services and marine energy. Its registered office is at Calle Velázquez 132, Madrid. This profile distinguishes the Spanish parent from its subsidiaries and uses the consolidated group for the main financial figures. Its public ownership reflects SEPI’s entire shareholding; this does not make its revenue equivalent to public budgets or mean that all its contracts belong to the same market. Navantia: audited consolidated annual accounts 2025, PDF p. 16; Navantia: audited consolidated annual accounts 2025, PDF p. 18; SEPI: Navantia Group.
From NEWIZAR to Navantia: the current company’s origins
The entity was incorporated on 30 July 2004 as NEWIZAR, S.L. It received the Ferrol, Fene, Cartagena, Puerto Real, San Fernando, Cádiz and Madrid operations from IZAR, with an economic effective date of 31 December 2004. On 1 March 2005 it adopted the name Navantia, S.L., and on 27 October that year it became a sociedad anónima. In 2017 it added its status as a state-owned commercial company to its legal name. Its corporate origins therefore lie in a reorganisation of the public shipbuilding industry. No individual founder is identified, and the history of predecessor shipyards is distinguished from the incorporation date of the current company. Navantia: audited consolidated annual accounts 2025, PDF p. 16.
SEPI, leadership and the group structure
SEPI owns 100% of the parent, according to the 2025 accounts and the shareholder’s webpage checked on 8 November 2026. The latter identifies Ricardo Domínguez García-Baquero as chairman. The consolidated accounts include Navantia Australia, Navantia Arabia and Navantia UK as wholly owned direct subsidiaries, and a 51% stake in SAES Capital. They distinguish these subsidiaries from equity-accounted holdings such as SOCIBER, Inmize Capital and SAMI Navantia Naval Industries. This 2025 corporate perimeter prevents figures already included in the group from being added as independent businesses, or a site certificate from being extended to every company. Navantia: audited consolidated annual accounts 2025, PDF p. 18; Navantia: audited consolidated annual accounts 2025, PDF p. 19; SEPI: Navantia Group.
How the value chain works
The business combines engineering, design, construction, systems integration, testing, delivery and subsequent support. Contracts can include technology transfer and training, placing part of the value in expertise and maintenance throughout a vessel’s life. Repair and modernisation also generate work on vessels already in operation. Activity depends on major programmes spanning several years and on suppliers and collaborating companies working at the industrial sites. Understanding the business requires separating signed orders, industrial execution and revenue recognition as contracts progress. Navantia: audited consolidated annual accounts 2025, PDF p. 17; Navantia: audited consolidated annual accounts 2025, PDF p. 21; Navantia: Corporate Sustainability Report 2025, PDF p. 188.
Naval programmes, systems and services
The 2025 results announcement identifies programmes under execution including F-110 frigates, S-80 submarines, the second batch of corvettes for Saudi Arabia and new vessel orders for the Spanish Navy. It also mentions support contracts with the Spanish Navy and US Navy, alongside civilian and military repairs. This portfolio brings together naval platforms, systems integration, propulsion and technical services. Each programme has its own timetable: inclusion in 2025 activity does not mean that every vessel was completed or delivered. SEPI identifies the Spanish Navy as the main domestic customer, while export orders broaden the business base. Navantia: 2025 results, 3 July 2026; Navantia: audited consolidated annual accounts 2025, PDF p. 17; SEPI: Navantia Group.
The Spanish industrial centres
Production facilities are grouped around the Ferrol estuary, Cartagena harbour and the Bay of Cádiz, with head offices in Madrid. Ferrol and Fene, Cartagena, and the Cádiz, Puerto Real and San Fernando sites were within the operations transferred to the company. This network connects construction, repairs, systems and energy activities, although the sites do not all perform the same tasks. The specific workplace matters for occupational health and safety: operations, concurrent contractors, emergencies and health surveillance require local organisation within the common corporate policy. The report describes site health and safety committees and a central committee. Navantia: audited consolidated annual accounts 2025, PDF p. 16; Navantia: Corporate Sustainability Report 2025, PDF p. 23; Navantia: Corporate Sustainability Report 2025, PDF p. 177.
The expansion into UK manufacturing
Navantia UK completed the purchase of the Harland & Wolff sites on 27 January 2025. The first-anniversary announcement identifies Belfast, Appledore, Methil and Arnish and describes the integration of workforces, processes and capabilities. Appledore and Puerto Real participate in block construction for the British Fleet Solid Support programme. Belfast retains the Harland & Wolff brand, while the other three sites operate under Navantia UK. This acquisition helps explain why the 2025 consolidated workforce and results have a different perimeter from the Spanish business. Australia and Saudi Arabia form part of the international presence through their respective subsidiaries; commercial offices, permanent establishments and subsidiaries are distinct categories. Navantia: first anniversary of the Harland & Wolff acquisition, 27 January 2026; Navantia: audited consolidated annual accounts 2025, PDF p. 16; Navantia: audited consolidated annual accounts 2025, PDF p. 18.
Revenue, losses and financial support in 2025
The audited consolidated accounts report revenue of €1,978.674 million and a net loss of €148.877 million for the year ended 31 December 2025. The loss attributable to the parent is a separate figure: €150.379 million. The 2024 comparatives were restated following an accounting-policy change for financed programmes and should not be mixed with that year’s originally published figures. The group had negative accounting equity of €1,838.921 million. The going-concern note explains shareholder support and positive equity for commercial-law purposes of €401.804 million after considering participating loans and adjustments. PKF Attest issued an unmodified opinion on 1 April 2026. The €12,826 million order book announced by the company represents contracted work still to be delivered, rather than revenue already earned. Navantia: audited consolidated annual accounts 2025, PDF p. 12; Navantia: audited consolidated annual accounts 2025, PDF p. 23; Navantia: audited consolidated annual accounts 2025, PDF p. 24; Navantia: audited consolidated annual accounts 2025, PDF p. 2; Navantia: audited consolidated annual accounts 2025, PDF p. 5; Navantia: 2025 results, 3 July 2026.
Employment: group, parent and annual average
The group employed 6,761 people at 31 December 2025: 5,541 men and 1,220 women. Its annual average workforce was 6,654. The parent company had 5,113 employees at year-end, a figure the corporate announcement separates from the consolidated total. These are headcounts, not full-time-equivalent measures. They do not automatically include auxiliary companies’ employees working at the shipyards. The UK industrial expansion needs to be considered when comparing years; attributing every change in the group’s workforce to recruitment in Spain would be misleading. Navantia: audited consolidated annual accounts 2025, PDF p. 119; Navantia: 2025 results, 3 July 2026.
Modernising production capacity
The company reported parent-company investment of €120.2 million in tangible assets and €4.9 million in intangible assets during 2025. It cited the Digital Block Factory in Ferrol, the Flat Panel Line in Puerto Real and industrial safety solutions based on artificial intelligence. These figures concern the individual company and should not be presented as the group’s entire international investment. The announcement describes industrial modernisation; it does not provide a causal assessment linking artificial intelligence to a specific reduction in accidents. Training and changes in working methods form part of the transformation. Navantia: 2025 results, 3 July 2026; Navantia: first anniversary of the Harland & Wolff acquisition, 27 January 2026.
Navantia Seanergies and environmental management
Navantia Seanergies identifies the marine energy business, including offshore wind structures and substations, within the group’s industrial diversification. The accounts’ activity note also includes hydrogen-related development. The 2025 sustainability report describes multisite ISO 14001 environmental certification for the Spanish industrial centres and head offices, the Zero Waste strategy and energy-management initiatives. These environmental programmes have objectives and metrics distinct from preventing occupational injuries. Developing a renewable energy business does not itself make all group operations free of environmental impacts. Navantia: audited consolidated annual accounts 2025, PDF p. 18; Navantia: Corporate Sustainability Report 2025, PDF p. 31; Navantia: 2025 results, 3 July 2026.
OHS governance and the scope of ISO 45001
The quality, occupational health and safety, and environmental policy assigns preventive responsibilities to management, employees and relevant stakeholders. Participation takes place through prevention representatives, site health and safety committees and the central committee. The 2025 report dates the attainment of multisite ISO 45001 certification for all Navantia sites to 31 January that year. This is presented as a dated corporate statement: the older public certificates reviewed do not establish an updated certification scope or expiry date for 2026. Management-system coverage and the absence of accidents are separate questions. Navantia: Corporate Sustainability Report 2025, PDF p. 32; Navantia: Corporate Sustainability Report 2025, PDF p. 172; Navantia: Corporate Sustainability Report 2025, PDF p. 177.
Preventive leadership and coordination with auxiliary companies
In 2025, the preventive leadership programme recorded 190 attendees and 760 training hours. The report links this work to managers’ example, resources and the integration of preventive objectives into management. It also describes sessions with collaborating companies’ managers in all geographic centres, noting that these companies carry out a substantial share of dangerous operations. The training table separately records 96,378 hours in the occupational risk prevention category. Sessions and hours demonstrate documented preventive activity, but are insufficient to measure effectiveness or establish that every contractor meets all requirements. Navantia: Corporate Sustainability Report 2025, PDF p. 187; Navantia: Corporate Sustainability Report 2025, PDF p. 188; Navantia: Corporate Sustainability Report 2025, PDF p. 210.
Own-workforce accidents and contractor data
For Navantia Spain in 2025, the report records 141 occupational accidents involving its own workforce: 66 with lost time and 75 without lost time. The non-employee table records a further 181 accidents at collaborating companies, with an explicit caveat: reporting is voluntary, unverified and limited to information received. These figures are therefore not added as if they formed a consistent group-wide census. The tables on pages 210 and 215 also differ in work-related illness and days lost, while some percentage changes in injury rates are inconsistent with the annual values. This profile retains consistent counts and avoids claiming improvement from unreconciled indicators. Navantia: Corporate Sustainability Report 2025, PDF p. 210; Navantia: Corporate Sustainability Report 2025, PDF p. 211; Navantia: Corporate Sustainability Report 2025, PDF p. 215.
Health surveillance and asbestos follow-up
Navantia’s documentation links health surveillance to each person’s specific risks and distinguishes it from voluntary promotion of healthy habits. The 2025 report retains a section on post-exposure asbestos follow-up, including notifications using Annex V, and records action for particularly sensitive workers and fitness assessments with restrictions. This documents a programme addressing previous exposure; it does not demonstrate current exposure across the entire workforce or establish a particular cause for every reported disease. Differences between table breakdowns prevent their counts from being used here as a single reconciled clinical statistic. Navantia: Corporate Sustainability Report 2025, PDF p. 170; Navantia: Corporate Sustainability Report 2025, PDF p. 214.
Mental health, mediation and risk assessment
The organisational wellbeing plan described for 2025 includes clinical psychology support, conflict mediation, emotional-management training, health circles and coordination with the people and equality teams. The report records psychological care for 361 people and 70 participants in health circles. It also schedules a psychosocial risk assessment for 2026; that assessment should not be presented as completed in 2025. Individual support and reviewing work organisation fulfil different functions. The documentation also describes the programme to prevent alcohol, drug and other addictions, with assistance and regional partnerships with Proyecto Hombre and ASFEDRO. Navantia: Corporate Sustainability Report 2025, PDF p. 170; Navantia: Corporate Sustainability Report 2025, PDF p. 188; Navantia: Corporate Sustainability Report 2025, PDF p. 189.
Collective agreement and adverse-weather response
The agreement signed in December 2025 and published in the BOE in 2026 extended Navantia’s first inter-site collective agreement to 31 December 2029 and amended part of its provisions. The new Annex VI regulates responses to disasters and weather events that could threaten workers’ physical safety. It provides for emergency committees at the affected site, employee communication, adjusted tasks, remote work where appropriate, protective equipment and incident reporting. It envisages consistent implementation of measures through the inter-site health and safety committee. This is an agreed response framework; its existence does not establish that every measure has been activated or implemented at every site. BOE: extension and partial amendment of Navantia’s collective agreement, 2026; Navantia: Corporate Sustainability Report 2025, PDF p. 177.
An auxiliary-company worker injured in Fene
On 17 January 2026, Europa Press reported that an Irluc employee working for Windwaves had been seriously injured the previous day at Navantia Fene. The incident occurred during a load-moving operation in the warehouse, and the agency reported a trade-union request for an investigation. The information in that article does not determine liability or report an administrative or court decision. The case provides specific context on coordinating external work and moving loads, without treating the reported accident as a proven regulatory violation or including it in the 2025 annual figures. Europa Press: Irluc worker injured at Navantia Fene, 17 January 2026.
Frequently asked questions
What does Navantia do, and who owns it?
Navantia builds and repairs ships, integrates systems, provides through-life services and develops marine energy activities. Its Spanish parent is wholly owned by SEPI. The group accounts include international subsidiaries and SAES Capital, with a perimeter different from that of the individual parent company. Navantia: audited consolidated annual accounts 2025, PDF p. 17; Navantia: audited consolidated annual accounts 2025, PDF p. 18; SEPI: Navantia Group. [1] · [2]
When was the current company founded, and where is it based?
The company was incorporated as NEWIZAR, S.L. on 30 July 2004 and adopted the Navantia name in March 2005 after receiving operations from IZAR. Its registered office is at Calle Velázquez 132, Madrid. Its main Spanish industrial sites are around the Ferrol estuary, Cartagena and the Bay of Cádiz. Navantia: audited consolidated annual accounts 2025, PDF p. 16. [1]
What were group revenue and employment in 2025?
The audited consolidated accounts report revenue of €1,978.674 million and a net loss of €148.877 million. At 31 December the group employed 6,761 people, including 5,113 at the parent. The group’s annual average workforce was 6,654. Year-end headcount, annual averages and contractor employees are different measures. Navantia: audited consolidated annual accounts 2025, PDF p. 12; Navantia: audited consolidated annual accounts 2025, PDF p. 119; Navantia: 2025 results, 3 July 2026. [1] · [2]
Which Navantia-specific OHS measures are documented?
The 2025 report describes site committees and a central committee, preventive leadership training, sessions with collaborating companies, risk-based health surveillance and post-exposure asbestos follow-up. It adds psychological support and mediation. The collective agreement published in 2026 incorporates a disaster and adverse-weather protocol. These actions have their own scopes and evidence; their existence does not demonstrate effectiveness at every workstation. Navantia: Corporate Sustainability Report 2025, PDF p. 170; Navantia: Corporate Sustainability Report 2025, PDF p. 177; Navantia: Corporate Sustainability Report 2025, PDF p. 187; Navantia: Corporate Sustainability Report 2025, PDF p. 188; Navantia: Corporate Sustainability Report 2025, PDF p. 214; BOE: extension and partial amendment of Navantia’s collective agreement, 2026. [1] · [2]
How many occupational accidents are reported, and what are the data limitations?
Navantia Spain reports 141 own-workforce accidents in 2025, including 66 with lost time and 75 without. It separately records 181 accidents voluntarily reported by collaborating companies, without verification. Differences between illness and days-lost tables prevent a single consistent series without reconciliation. The Fene accident reported in January 2026 falls outside that financial year. Navantia: Corporate Sustainability Report 2025, PDF p. 210; Navantia: Corporate Sustainability Report 2025, PDF p. 215; Europa Press: Irluc worker injured at Navantia Fene, 17 January 2026. [1] · [2]
Does the ISO 45001 reference demonstrate that every site is safe?
No. The 2025 report states that multisite ISO 45001 certification was obtained on 31 January that year, but this profile does not have an updated certificate establishing its scope and expiry in 2026. Certification assesses a management system within a specific scope; it does not guarantee zero accidents or automatically extend coverage to every subsidiary or contractor. Navantia: Corporate Sustainability Report 2025, PDF p. 32; Navantia: Corporate Sustainability Report 2025, PDF p. 215. [1]
