Leonardo reports 34% increase in orders in H1 2019
Buoyed in part by helicopter sales, Leonardo has seen a 34% increase in new orders across all of its segments (helicopters, defence electronics & security, aeronautics, space, and Industrial and financial transactions) for the first half of the year lifting the total to Eu6.1 billion.
The manufacturer secured Eu1.7 billion in new helicopter orders in the first half of 2019, bringing its helicopter backlog to Eu11.9 billion and revenues to Eu1.9 billion. That represented a 28.4% increase in orders over the first half of 2018 (Eu1.3 billion in the corresponding period of 2018).
The surge in new helicopter orders was boosted by several transactions in the military market. Leonardo finalised a 23 NH90 helicopter order from the Spanish Ministry of Defence this year and has secured an order for four AW101 naval helicopters from the Polish Ministry of Defence.
The company also confirmed its 2019 guidance, expecting new orders across all its segments to reach Eu12.5-13.5 billion euros over the year.
Summarising the helicopter segment’s performance, Alessandro Profumo, Leonardo’s CEO said: “We have made further steps forward in executing our Industrial Plans. Helicopters is well underway to achieving our plan. Here, we’ve further improved our order intake, revenues and profitability in the first half.
“Helicopters is very well balanced between three key areas: civil, military and customer support and training. And perhaps customer support and training is in the same area because it’s the service area for customer.”
However, the number of helicopter deliveries fell in the first half of 2019 – with 61 helicopter deliveries in H1 2019 compared to 77 deliveries in first half of 2018.
Profumo, stated: “The first half 2019 results are again in line with expectations and we have achieved a strong commercial performance in domestic and international markets. We are pleased to confirm our 2019 Guidance and we continue to be fully focused on the execution of the Industrial Plan that will deliver sustainable growth, creating value for all our stakeholders”.