Leonardo: with Covid they keep revenues down profit, new guidance – Ultima Ora

(ANSA) – ROME, JULY 30 – Leonardo closes the accounts for the first half of 2020 by emphasizing the “prompt response to Covid-19” and the “keeping of the results of the first half of 2020 in the face of an unprecedented challenge”.

The net result is down sharply to 60 million, – 82.8% compared to the same period of a year earlier, but compared to “solid revenues of 5.9 billion”, -1.4%. The company also highlights the “good commercial performance: new orders of 6.1 billion”: Covid effect on debt at 292 million, -40%, and on operating cash flow, negative for 1.9 billion , which is mainly affected by the usual seasonality.

“The results of the first half confirm our resilience to extreme market conditions, with a solid commercial performance on the domestic military / government markets”, commented the CEO. Alessandro Profumo Leonardo underlines “full confidence in the medium-long term fundamentals” while communicating to the market a new guidance for 2020 which acknowledges the impact of the Covid-19 emergency expected for the current year: sees orders for 12.5 -13.5 billion, revenues of 13.2-14 billion, an Ebita of 900-950 million euros. (HANDLE).

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