Leonardo-Finmeccanica closes the first half with a net ordinary income up 120% to 200 million euros. The acquisition of the 7 billion euro contract for the supply of 28 Eurofighter 7,95 Typhoon aircraft to the Kuwaiti Ministry of Defense – the most important order in the history of Leonardo-Finmeccanica – brings the order backlog to 35 billion.
Ebidta rose by 7% compared to the same period of the previous year, reaching 786, while Ebita grew to 472 million (+5%). Ebit also rose, up 14% to 399 million euros.
The net profit is positive for 210 million, including the capital gain on the sale of Fata, and "strong growth" (+89%) compared to the result of 111 million in the first six months of 2015 which benefited from the transport activities subsequently sold.
At the end of June, net financial debt amounted to 4,233 billion, an improvement of 757 million compared to 30 June 2015.
The only "discordant note" concerns the turnover. Revenues fell to 5.413 million, recording a drop of 9,4% compared to the first half of 2015. The contraction, explains the company, was caused by the "reduction in revenues in the Helicopters sector, due to the difficulties of the civil market caused by the persistence of the Oil&Gas crisis , and from changes in the perimeter in particular, relating to Drs and Fata".
The company confirmed the 2016 guidance: the group expects to achieve a level of ebita in the high part of the outlook, revenues, as Leonardo explains in a note, could instead settle in the low part of the range indicated due to the decline in volumes of production of helicopters linked to the crisis in the oil & gas sector.
At Piazza Affari, the stock rose by 1,1% to 9,81 euros.
