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    LDO   IT0003856405

LEONARDO S.P.A.

(LDO)
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Leonardo S p A : Israel and Greece sign record defence deal

04/18/2021 | 03:33am EDT

JERUSALEM, April 18 (Reuters) - Israel and Greece have signed their biggest ever defence procurement deal, which Israel said on Sunday would strengthen political and economic ties between the countries and the two countries' air forces launched a joint exercise.

The agreement includes a $1.65 billion contract for the establishment and operation of a training centre for the Hellenic Air Force by Israeli defence contractor Elbit Systems over a 22-year period, Israel's defence ministry said.

The training centre will be modelled on Israel's own flight academy and will be equipped with 10 M-346 training aircraft produced by Italy's Leonardo, the ministry said.

Elbit will supply kits to upgrade and operate Greece's T-6 aircraft and also provide training, simulators and logistical support.

"I am certain that (this programme) will upgrade the capabilities and strengthen the economies of Israel and Greece and thus the partnership between our two countries will deepen on the defence, economic and political levels," said Israeli Defence Minister Benny Gantz.

The announcement follows a meeting in Cyprus on Friday between the UAE, Greek, Cypriot and Israeli foreign ministers, who agreed to deepen cooperation.

The Israeli and Greek air forces on Sunday launched a joint exercise in Greece, the Israeli military said.

In at least one past exercise over Greece, Israeli fighter planes practised against an S-300 posted on Crete. The Russian-made air defence system is also deployed in Syria and Iran, Israel's foes.

A source in the Hellenic National Defence Command said the S-300 had not been activated in the joint exercise that began Sunday.

(Reporting by Ari Rabinovitch and Dan Williams Additional reporting by George Georgiopoulos in Athens Editing by David Goodman and Frances Kerry)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ELBIT SYSTEMS LTD. 1.19% 444 End-of-day quote.4.94%
LEONARDO S.P.A. -2.18% 6.818 Delayed Quote.17.94%
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Financials
Sales 2021 14 036 M 17 039 M 17 039 M
Net income 2021 524 M 636 M 636 M
Net Debt 2021 3 309 M 4 017 M 4 017 M
P/E ratio 2021 8,24x
Yield 2021 2,00%
Capitalization 4 009 M 4 875 M 4 867 M
EV / Sales 2021 0,52x
EV / Sales 2022 0,48x
Nbr of Employees 49 882
Free-Float 69,3%
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Technical analysis trends LEONARDO S.P.A.
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 9,19 €
Last Close Price 6,97 €
Spread / Highest target 74,3%
Spread / Average Target 31,8%
Spread / Lowest Target 1,87%
EPS Revisions
Managers and Directors
NameTitle
Alessandro Profumo Chief Executive Officer & Director
Alessandra Genco Chief Financial Officer & Vice President
Luciano Carta Chairman
Dario Frigerio Lead Independent Director
Marina Rubini Independent Non-Executive Director
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