Leonardo archives the first nine months of 2019 with a Net income of 465 million, up 77% year on year. The result, explains the group in a note, benefits from the release of a large part of the provision set aside for the guarantees given for the sale of the Ansaldobreda transport business.
I revenues on the other hand, they stood at 9,1 billion (+11%) and EBITDA at 686 million (+9% with a RoS of 7,5%). THE new orders they reached 8,6 billion, bringing the total portfolio to 35,672 billion (+3,4%).
“The performance of the main businesses is in line with expectations – he underlines Alessandro Profumo, CEO of Leonardo – We confirm the 2019 guidance and continue to be focused on the execution of the industrial plan".
In particular, the sector helicopters of the group "confirms the effectiveness of the path undertaken last year, showing a solid performance, with revenues (+3%) and profitability growing (Ebitda +24,4%) compared to the same period of 2018", continues the Note. The main orders include the contracts for the supply of 23 NH90 tactical helicopters to the Spanish Ministry of Defense and the supply of 4 multi-purpose naval AW101 helicopters to the Polish Ministry of Defence.
Finally, a double buyback: Leonardo US Holding has announced public tender offers on the entire amount of two of its own bond issues: “7.375% Guaranteed Notes due 2039” and “6.250% Guaranteed Notes due 2040”, guaranteed by Leonardo spa. In line with the industrial plan, explains the company, the offers aim to reduce the interest expense due until the maturity of the 2039 and 2040 Bonds. "The net present value of the transaction will be significantly positive", concludes the note.
