The last session of the week promises to be a fire for Leonardo. At the opening, the title struggles to enter trading, marking a theoretical decrease of 20%. At 10.00 the red was 17,36%, an hour and a half later the shares sank by 21% to 11,26 euros. The cause of the collapse was the cut in the guidance, expected for the end of the year and motivated by some "critical issues in the helicopter sector".
Yesterday, November 9, the company led by Alessandro Profumo presented its accounts for the first nine months of 2017 and revised its 2017 estimates on EBITDA and revenues. EBITDA forecasts go from 1,25-1,3 billion to 1,05-1,1 billion, while those for turnover drop from 12 to 11,5-12 billion. The estimates reflect in particular the difficulties that the company is facing in the helicopter segment, which continues to suffer from particularly unfavorable market conditions and the effect of delays in achieving adequate levels of profitability on some products.
“In 2017 Leonardo will hit rock bottom, from 2018 the ascent will begin”, CEO Profumo explained to analysts.
Speaking of the accounts, in the first nine months for the current year Leonardo recorded a net profit of 272 million, down 23% compared to 353 million in the same period of 2016. Revenues amounted to 7,984 billion (-0,6%), the ebitda to 703 million (-5,8%), orders at approximately 8 billion, with an organic growth of 5% (33,9 billion the order backlog).
(Last update: 11.45 am on 10 November).
