ROME (Reuters) – Leonardo said on Thursday it had exceeded its forecast for new orders for 2022 and announced, as part of the publication of its quarterly results, the payment of a dividend of 0.14 euros per share.
Italy’s state-owned defense and aerospace group reported new orders rose 21% year on year last year to 17.266 billion euros last year, beating its initial forecast of more than 16 billion euros.
Earnings before interest, taxes, depreciation and amortization (EBITA) rose 9.3% to 1.218 billion euros, while revenue increased 4.7% to 14.71 billion euros. euros.
EBITA is at the high end of the company’s initial forecast range (between €1.17 billion and €1.22 billion), while revenue is in the range of forecast (14.4-15 billion euros).
“We have met or exceeded all our key objectives once again, we have structurally and strongly increased our cash position, with a free operating cash flow of 539 million euros in 2022, more than double of 2021,” said the group’s chief executive, Alessandro Profumo, in a statement.
In 2023, Leonardo expects to receive approximately €17 billion in new orders and to generate revenue of between €15 and €15.6 billion and an EBITA of 1.26 to 1.31. billion euros.
The group’s net debt stood at 3.016 billion euros at the end of last year, down 3.4% compared to the end of 2021.
Leonardo reported reduced cash absorption for its loss-making aerostructures division and said it was aiming for breakeven in 2025.
The war in Ukraine has increased the demand for military equipment among NATO members, which should benefit companies such as Leonardo.
(Alvise Armellini report, French version Victor Goury-Laffont, edited by Jean Terzian)
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