Leonardo reports first quarter results

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Leonardo has released that at the end of the first quarter new orders amounted to €2,518 million and showed, compared to the first three months of 2018 (€ 2,164 million), an increase of 16.4%, mainly due to Defence Electronics & Security.

Order Backlog, amounted to €36,575 million, increasing 9.6% compared to €33,360 million in 2018 and ensuring a coverage in terms of equivalent production equal to about three years. Revenues, amounted to €2,725 million, an increase of 11.2% compared to the first quarter of 2018 (€2,451 million), mainly in relation to Defence Electronics & Security and, to a lesser extent, to Helicopters. EBITA, amounted to €163 million, an increase of 6.5% compared to €153 million in the first quarter of 2018 and EBIT, amounted to €156 million; showing an improvement of €35 million (+29%), compared to the first quarter of 2018 (€121 million), due to an improved EBITA and also to the decrease in restructuring costs and lower amortisation of assets deriving from the business combination of Leonardo DRS.

Net Result before extraordinary transactions, amounted to €77 million, (€50 million in the first quarter of 2018) and benefitted from both an improved operating result and from lower restructuring costs and lower amortisation of assets deriving from Purchase Price Allocation, as well as financial expenses.  

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