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ROME (Reuters) – Leonardo reported double-digit growth in orders, revenue and core profit in the first half as the Italian aerospace and defence conglomerate continued to strengthen its role in European defence projects.
In the first six months of the year, new orders increased by 15.6% to 10.3 billion euros, turnover increased by 10.9% to 8 billion euros, and earnings before interest, taxes, depreciation and amortization (EBITA) by 13.3% to reach 503 million euros.
Leonardo CEO Roberto Cingolani welcomed in a statement the double-digit growth for all the group’s main performance indicators.
“In recent months, we have also achieved important goals in strengthening international alliances by playing an active role in promoting European defence,” he added.
In recent months, the Italian state-controlled company has continued its focus on divesting non-core assets, such as selling a subsea unit to Fincantieri, while forging pan-European alliances, such as launching a joint venture with Germany’s Rheinmetall.
Debt was reduced by around EUR 0.6 billion year-on-year, in line with the group’s plans.
During a press conference with analysts, Roberto Cingolani also confirmed rumours that Leonardo was in “constructive” discussions with Thales and Airbus on possible alliances and synergies to create a stronger European space industry.
He added that the group’s new space division positioned it “in rapidly growing market segments”, allowing it to pursue the objectives set in its 2024-28 industrial plan, approved in March this year.
(Report by Giulia Segreti, written by Pauline Foret, edited by Augustin Turpin)
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