Leonardo’s Helicopter division first-half revenue soars

Leonardo Helicopters AW189

Italian aerospace and defence giant Leonardo announced a strong performance for its helicopter division in the first half (H1) of 2024. Revenue from helicopters segment clocked in at €2.4bn, up 12% year-over-year despite lower helicopter deliveries of 77, five fewer than 82 in H1 2023.

This revenue growth was primarily driven by sales of dual-purpose helicopters and a surge in demand for after-sales services.

“Helicopters is where we see continuous strong positive momentum … Revenues up 12% plus to €2.4bn … with return on sales steady at around 7%,” said Alessandra Genco, chief financial officer at Leonardo.

The division’s profitability also improved, with EBITA rising 9.6% to €172m.

New helicopter orders surged 28% year-over-year to €3.6bn, bringing the total backlog to €14.4bn. The company said the new order intake was strong in both governmental as well as civil sectors. Major orders included the 20 AW139 for Saudi Arabia for civilian use and four AW189 for the Malaysian Maritime Enforcement Agency and NH90s.

Leonardo overall financial performance was equally impressive, with total revenue climbing 11% to €8bn and new orders increasing by 15.6% to €10.3bn.

Earlier in June, Leonardo Helicopters agreed a deal for three emergency response configured AW139 helicopters with the Greek Ministry of Climate Crisis and Civil Protection.