Management confirmed the financial estimates for 2024, released when preparing the 2023 financial statements.
Leonardo has communicated the financial results for the 1st quarter of 2024, the period ended with sharply increasing revenues and profitability.
Furthermore, management has confirmed financial estimates for 2024released on the occasion of the preparation of the 2023 budget.
The aerospace company ended the reporting period with revenues for 3.66 billion euros, an increase of 20.8% compared to the 3.03 billion obtained in the first three months of the previous year. Leonardo specified that turnover showed an increase in all business sectors; of particular importance is the contribution of Defense and Security Electronics and Helicopters.
The operating result (EBITA) rose from 105 million to 182 million euros (+73.3%), following the performance of Defense and Security Electronics and Helicopters, in addition to the performance of Aerostructures which shows, confirming the improvement path undertaken , a smaller loss compared to the comparative data; the margin rose to 5%.
Leonardo finished the 1st quarter of 2024 with a Net income (excluding the share of third parties) of 447 million euros, compared to the 36 million booked in the first three months of 2023.
At the end of March thenet debt of Leonardo had risen to 2.93 billion euros, with a cash absorption of 621 million euros.
Always at the end of the year order book it was equal to 43.15 billion euros, an amount that ensures coverage in terms of production of 2.5 years; in the entire quarter Leonardo acquired orders for 5.75 billion, thanks to the important contribution of Defense and Security Electronics, in all business areas of the European component, to the contribution of Helicopters and also to the improvement of Aerostructures.
Based on these results Leonardo confirmed its financial estimates for 2024.
In detail, management predicts revenues of approximately 16.8 billion euros. Profitability is also expected to increase, with a EBITA of approximately 1.44 billion euroswhile thenet debt should be reduced to 2 billion euros.
Leonardo appreciates new orders totaling approximately 19.5 billion euros.
