Leonardo SpA ( (FINMY) ) has released its Q3 earnings. Here is a breakdown of the information Leonardo SpA presented to its investors.
Leonardo SpA is a prominent international industrial group operating in the Aerospace, Defence, and Security (AD&S) sectors, with a global workforce of 53,000 employees. The company is involved in major international programs across its core sectors, including helicopters, electronics, aircraft, cyber and security, and space, with significant operations in Italy, the UK, Poland, and the USA.
In its latest earnings report, Leonardo SpA announced a robust financial performance for the first nine months of 2024, with remarkable growth across all key performance indicators. The company reported new orders worth €14.8 billion, representing a 7.8% increase, and revenues of €12.1 billion, up by 12.4%. The EBITA rose by 15% to €766 million, while free operating cash flow improved by 13.7%. Despite a negative cash flow, the company’s net debt decreased by 19% to €3.1 billion.
Leonardo’s strategic initiatives included the establishment of a joint venture with Rheinmetall, strengthening its international positioning. This joint venture aims to develop and commercialize military combat vehicles, showcasing Leonardo’s strategic agility. Furthermore, the company completed several key acquisitions and divestitures, including the acquisition of control over GEM Elettronica in the radar sector, further reinforcing its portfolio.
The company maintained a record order backlog exceeding €43 billion, ensuring production coverage for more than 2.5 years. Leonardo’s management confirmed its full-year 2024 guidance, reflecting confidence in continued growth and operational strength. The company also highlighted ongoing evaluations in the cyber and space sectors, signaling future growth potential.
Looking ahead, Leonardo SpA remains optimistic about its strategic direction and growth prospects. With a focus on enhancing its core defense business and exploring new opportunities in high-value sectors, the company is well-positioned to navigate the competitive landscape while delivering on its industrial plan objectives.
