2018 results above Guidance for New Orders and Revenues
-- New order intake at € 15.3 billon, up 32%(*)
-- Record Backlog at € 36.1 billion
-- Revenues at € 12.4 billion, up 5%(*)
-- Book to bill above 1
-- EBITA at € 1.13 billion, up 5.2%(*)
-- Profitability (RoS) at 9.2%
-- Net Result at € 510 million, up 83%
-- FOCF at € 336 million at the top-end of Guidance range, as revised upwards in July
ROME --- Leonardo's Board of Directors, convened today under the Chairmanship of Gianni De Gennaro, examined and unanimously approved the draft of Group consolidated and Leonardo S.p.A. financial statements at 31 December 2018.
Alessandro Profumo, Leonardo CEO commented “2018 has been a key step forward in the execution of the Industrial Plan: all actions needed are in place and we delivered on what we said we will do. We have met targets and exceeded Guidance. We continue to be confident in being able to achieve all Industrial Plan targets: top line growth with strict cost control, driving Group towards double-digit profitability and strong cash generation from 2020. Over the next years we want further accelerate the path we have taken to achieve sustainable growth”.
The 2018 results are consistent with the priority objective of growth set out in the Industrial Plan. Most notable is a significant increase in New Orders and Revenues, with a Backlog level of over € 36 bn, which will support further growth in the coming years.
Volume growth was accompanied by solid operating profits, a significant increase in the Net Result and a cash generation which confirmed the Guidance revised upwards last July. (end of excerpt)
Click here for the full statement, on the Leonardo website.