Leonardo’s H1 2023 results showed positive growth with revenues of €6.9 billion, up 6.4% compared to the previous year. EBITA reached €430 million, a 5.7% increase. The Free Operating Cash Flow (FOCF) significantly improved to €-517 million, a 46.9% decrease from the previous year. Net result was €208 million, down 22.1% from H1 2022.
The company’s full-year guidance for 2023 was confirmed. Orders increased to €8,691 million, up 21.4% compared to the previous year, leading to a record backlog of approximately €40 billion with a book to bill ratio of approximately 1.3x.
Aerostructures is gradually recovering and is expected to reach breakeven by the end of 2025. Group net debt decreased to €3,637 million, representing a 24% reduction compared to H1 2022, primarily due to lower cash absorption. The cash flow is improving as planned, with reduced seasonality.
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LEONARDO SPA, July 28th, 2023
Date de publication :28/07/2023