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Italy's Leonardo confirms FY guidance on the back of higher profits, orders

Reuters
·1-min read
FILE PHOTO: Leonardo logo is seen during celebrations for the 500th Eurofighter Typhoon produced by the European consortium at Caselle airport in Turin

ROME (Reuters) - Italy's Leonardo confirmed on Thursday its full-year guidance on the back of increasing profit margins and orders as weapon demand surges globally.

New orders grew 9.4% year-on-year to 7.3 billion euros in the first six months of the year, with "no jumbo orders", the group said in a statement. Earnings before interest, taxes and amortisation (EBITA) was up 4.5% to 418 million euros in the period to June.

"In addition to the positive business and financial performance in the first half, (Leonardo) finalised important long-term strategic transactions," Chief Executive Alessandro Profumo said in the statement, citing among other the acquisition of Germany's Hensoldt and the listing of U.S. unit DRS.

(Reporting by Giulia Segreti, editing by Maria Pia Quaglia)