Leonardo archive 2021 with a Useful more than doubled: +142%, to 587 million euros. Well i too revenues, up 5%, to 14,1 billion. On the profitability side, theebita it stood at $1,123 billion, up 20% year-on-year. The orders, however, rose by 4%, to 14,3 billion. Finally, the Focf (operating cash flow, ed) was above the guidance: +423%, at 209 million, double the expectations.
“We have resumed the growth path with results above pre-pandemic levels, apart from the aerostructures for which the restructuring and relaunch plan is underway”, he comments Alessandro Profumo, CEO of Leonardo.
Leonardo: low exposure towards Russia and Ukraine
As for the risks associated with the war between Russia and Ukraine, Leonardo lets it be known that he is not "significantly exposed to these two countries - we read in the group note – Specifically, the capital exposure as at 31 December 2021 to Ukraine is nothing and the net equity exposure to operators directly involved in the sanctioning regime Russia is about 30 million. The order backlog with Russia is around 25 million, while the backlog with Ukraine is around 8 million”.
2021 Leonardo dividend of 0,14 euros
In terms of remuneration, Leonardo's board of directors has decided to propose to the shareholders' meeting the distribution of a dividend equal to 0,14 € from the profit for the year 2021, gross of any legal withholdings.
Leonardo: in the 2022 guidance orders at 15 billion, revenues 14,5-15 billion
For 2022, "on the basis of current assessments of the impacts of the geopolitical and health situation" and "subject to any further significant aggravations", Leonardo envisages new orders for about 15 billion, revenues for 14,5-15 billion, a ebita of 1,180-1,220 billion and one Focf about 500 million. Estimates also speak of a net borrowing of approximately 3,1 billion, a figure which includes the acquisition of 25,1% of Hensoldt and the hypothesis of business sale in addition to the payment of dividends.
Perfume: "CO2 emissions reduced by 23%"
“Our full commitment to sustainability continues – added Profumo – we have reduced CO2 emissions by 23% and increased the percentage of women hired with STEM profiles and young people under 30, 50% of our funding sources are linked to ESG indicators fully aligned with our strategy and Long Term Incentive Plan. Based on the results obtained, we have proposed the reintroduction of the dividend payment. The solidity and fundamentals of the Group are the basis of confidence in the short and medium-long term: we confirm the objective of generating around 3 billion in cash accumulated between 2021 and 2025, with significant growth as early as 2022 and a rate of conversion of EBITA into cash of around 70% already in 2022, if we exclude Aerostructures, and more than 70% at Group level, including Aerostructures, in 2024-2025”.
