Leonardo on March 12 released its year-end results, ending December 31, 2019, exceeding its guidance for the second year in a row. The Italian aerospace company achieved revenues of €13.8 billion in 2019, representing an increase of 12.6 per cent relative to 2018, while its year over year EBITA increased by 12 per cent to €1.3 billion. Leonardo had new orders of €14.1 billion in 2019 and an order backlog of €36.5 billion, which the company states to represent equivalent production equal to more than 2.5 years.
“Over the past two years we have been delivering or exceeding our promises and we are very well positioned to succeed in the long-term,” said Alessandro Profumo, CEO, Leonardo. “We have a clear view on our strategic path: strengthening and transforming our business to growth and accelerate the innovation improving business competitiveness in the long-term.”
Leonardo points to its Defence Electronics & Security and Aeronautics divisions as the primary drivers of its revenue increase, while noting the Helicopters division also contributed to its increased EBITA.
The company presented an expected guidance for the year ahead, but notes the numbers do not consider the impact of COVID-19. This includes a high level of new orders at €14 billion, based on the closing of important domestic and export orders in all business segments; and revenues of between €14 to €14.5 billion.
In releasing its statement, Leonardo acknowledged that the COVID-19 pandemic will have an impact on the group’s ordinary course of business, particularly in terms of commercial campaigns, continuity of supply chain, production times and acceptance processes of products/activities by customers.