The Leonardo group closed the first half of 2017 with a net profit of 194 million, down from 210 million in the first half of 2016, which however had benefited from the capital gain on the sale of Fata (10 million). The group reports it in a note.
Revenues for the period amounted to 5,326 billion, down by 1,6% due to the negative effect of the pound/euro exchange rate. EBITDA reached 482 million, +2,1%, supported in particular by the Aeronautics and by Electronics, Defense and Security Systems, which more than compensated for the decline in Helicopters.
Ros stood at 9,0%, up from 8,7%. New orders worth €5,1 billion, up on the first half of 2016, net of the €8 billion Eurofighter Kuwait contract signed in the second quarter of 2016.
Net debt improved to 3,6 billion, also thanks to the collection of the second advance on the EFA Kuwait contract in the first quarter. FY 2017 guidance confirmed.
"The first half results confirm Leonardo's solidity and commitment to achieving the pre-established objectives of cash generation, profitability and capital solidity - commented Leonardo's CEO, Alessandro Profumo - The priority is to further strengthen our positioning on international markets, through a more effective commercial model that focuses on the customer, leveraging the quality of our technologies and products and the skills of our people".
