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    LDO   IT0003856405

LEONARDO S.P.A.

(LDO)
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Leonardo confirms 2021 guidance after 37% rise in H1 core profit

07/29/2021 | 12:56pm EDT

MILAN, July 29 (Reuters) - Italian defence group Leonardo stuck to its full-year guidance after its government and military business more than offset weakness in civil aviation to boost first-half earnings.

Between January and June, earnings before interest, tax and amortisation (EBITA) rose 37% over the prior year to 400 million euros.

Revenues grew 7.9% thanks to solid demand for helicopters and defence electronics. Leonardo's aerostructure business, which makes parts for Boeing and Airbus, saw a 35.5% fall because of the protracted negative impact of the pandemic.

Leonardo expects full-year core earnings of between 1.075 billion and 1.125 billion euros and a fall in net debt to 3.2 billion euros.

Leonardo CEO Alessandro Profumo said in a statement the group remained cautious on the timing of an eventual recovery in civil aviation despite some recent "positive signs."

The Rome-based group also said it was sticking to a plan to list its U.S. unit DRS when market conditions allowed, after pulling the initial public offering in March due to expected cuts in U.S. defence spending.

Earlier on Thursday, Leonardo and other partners were awarded a 250 million pound contract under Britain's Tempest fighter jet project.

(Reporting by Andrea Mandalà, editing by Valentina Za and Cynthia Osterman)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -1.10% 115.4 Real-time Quote.28.54%
LEONARDO S.P.A. -0.72% 6.86 Delayed Quote.16.07%
THE BOEING COMPANY 0.13% 221.39 Delayed Quote.3.29%
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Analyst Recommendations on LEONARDO S.P.A.
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Financials
Sales 2021 14 103 M 16 525 M 16 525 M
Net income 2021 557 M 653 M 653 M
Net Debt 2021 3 366 M 3 944 M 3 944 M
P/E ratio 2021 7,08x
Yield 2021 2,06%
Capitalization 3 946 M 4 620 M 4 624 M
EV / Sales 2021 0,52x
EV / Sales 2022 0,48x
Nbr of Employees 49 980
Free-Float 69,3%
Chart LEONARDO S.P.A.
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Technical analysis trends LEONARDO S.P.A.
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TrendsNeutralNeutralBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 16
Last Close Price 6,86 €
Average target price 9,24 €
Spread / Average Target 34,7%
EPS Revisions
Managers and Directors
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
Sector and Competitors