Leonardo archives the first nine months of 2018 with new orders for 9,4 billion, an increase of 18,2% (+20% excluding the negative exchange effect). The increase is mainly linked to the acquisition of the NH90 Qatar contract for 3 billion euros. THE revenues amounted to 8,240 billion (+2,4%, +4% excluding negative exchange effect) while the Net income it reached 263 million (against 265 million in the same period of 2017), benefiting from the release of part of the provision set aside against the guarantees given on the sale of the investment in Ansaldo Energia.
THEEbitda it fell to 632 million, mainly due to the decrease in the result of the Gie-Atr Consortium, penalized in particular by lower deliveries and the dollar/euro exchange effect, and for Helicopters. L'net borrowing, at 3,503 billion, improved compared to 30 September 2017 (4,004 billion) while compared to 31 December 2017 it recorded an increase due to the seasonal dynamics of cash flows and the payment of dividends (81 million).
“The results of the first 9 months of 2018 are in line with our expectations – he said Alessandro Profumo, CEO of Leonardo – The recent commercial successes in Qatar, USA and China, the performance of all businesses, the recovery of the Helicopters, the increase of Leonardo DRS and the rigorous cost control make us confident that we can guarantee Leonardo a long-term sustainable growth in line with the objectives of the Business Plan".
In the light of the results of the first nine months and the expectations for the following ones, the group confirms the guidance for the full year revised upwards in July: orders between 14 and 14,5 billion, revenues at 11,5-12 billion, Ebita at 1,075-1,125 billion and group net debt at around 2,4 billion.
At Piazza Affari, the Leonardo stock dropped 5,7% to 9,156 euros and achieved the worst performance of the Ftse Mib.
(Last update: 11.20 am on 9 November).
