Leonardo Helped To Strong First Quarter By Impressive Military Performance
by Liz Seyi Digital marketing managerThe Italian aerospace and defence group Leonardo has recorded a
healthy increase in revenues for the first three months of this year, despite
lower business in aerostructures.
A nearly 8% rise in revenues was recorded, at €2.79 billion
($3.36 billion), compared to the equivalent period in 2020, despite a slowdown
in sales of ATR turboprops and Boeing 787 fuselages.
Profits, meanwhile, went up by 132% to €95 million. All in all,
the figures demonstrate how aerospace manufacturers with a broad portfolio have
been able to take advantage of the defence market to weather some of the
coronavirus crisis’s adverse impacts on the airline sector.
What else do we learn from Leonardo’s latest numbers?
In a development of inevitable interest to many of
those seeking aviation
consulting for HR professionals, Leonardo revealed that revenues at its European defence
electronics business and its US DRS subsidiary – which it had been trying to
partly spin off, only to cancel an initial public offering in March – went up
by about a tenth.
The European arm, however, saw an order bounce of nearly 80%,
partly because of a contract for radars for Germany’s Eurofighter combat
aircraft, as well as domestic deals in the cybersecurity and submarine sectors.
Leonardo’s aerostructures operations have been significantly hit
by a major fall in the deliveries of civil aircraft since the second half of
2020 – the firm co-owns ATR with Airbus, and assembles the fuselages in Italy,
in addition to being one of the 787 programme’s key suppliers.
Meanwhile, there was only a slight decline in revenues for the
aeronautics division – the one-time Alenia Aeronautics – as a rise in deliveries
for military programmes compensated for the aerostructures struggles. Leonardo
supplies wings for the Lockheed Martin F-35, for example.
Furthermore, the division saw a year-on-year increase in new
orders “thanks to the finalisation of a major contract for the export of M-346
aircraft.”
Revenues for helicopters also rose by 12.5%.
Leonardo CEO Alessandro Profumo said the results were in line
with expectations, commenting: “Our solid military and governmental business
offset the impact of the COVID pandemic on the civil side.”
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Created on Jun 2nd 2021 00:21. Viewed 180 times.
Very nice Article ..........
Jun 18th 2021 00:23 1 Likes