Leonardo reports a rise above pre-pandemic levels
The AW119Kx is the first light single-engine helicopter to meet all IFR standards. (Photo: Leonardo)
Despite the pandemic limiting growth, particularly in regard to Aerostructures, Leonardo reports a rise above pre-pandemic levels.
Leonardo’s reported results for the first nine months of 2021 indicate the recovery in growth and an increase in profitability from that reported in December 2020.
There has been strong commercial momentum with an order intake of 9.3 billion, up 9%.
The new orders amounted to EUR 9,266 million, a sharp increase when compared to the first nine months of 2020.
There have been a number of significant new orders. In regards to helicopters, a second contract for 36 AW119 helicopters for the US Navy was received.
Four production helicopters were contracted as part of the NEES programme for the Italian army.
There was also a contract for the supply of equipment for two U212 Near Future Submarines, which will join the Italian Navy's fleet from 2027.
The reported backlog amounted to EUR 35,235 million, coverage in terms of equivalent production equal to about 2.5 years.
However, the restructuring plan for Aerostructures was particularly affected by the pandemic. Leonardo predicts that 2021 will be the bottom year, with recovery and break-even point expected by end of 2025.
You may also like
More from Defence Notes
-
![Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft]()
Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft
The procurement and acceleration production plans – some of which still await approval – across the air and land domains will aim to strengthen the operational needs of the Israel Defense Forces.
-
![US reforms its defence acquisition system to focus on commercial capabilities]()
US reforms its defence acquisition system to focus on commercial capabilities
This shift is planned to accelerate the procurement and fielding of capabilities. As part of this strategy, the US also intends modernise its regulations in an attempt to change its bureaucratic and risk-averse culture.
-
![Australia’s Exercise Talisman Sabre concludes after a series of firsts]()
Australia’s Exercise Talisman Sabre concludes after a series of firsts
More than 40,000 military personnel from 19 participating nations took part in the 11th iteration of the biennial Exercise Talisman Sabre multi-domain event which was held across Australia and in Papua New Guinea.
-
![US Africa Command targets logistic solutions]()
US Africa Command targets logistic solutions
AFRICOM is seeking IT systems and supply chain management solutions to enhance interoperability and standardise logistical processes in its area of responsibility.
-
![Rheinmetall sales up by almost a quarter on wave of German spending]()
Rheinmetall sales up by almost a quarter on wave of German spending
Germany’s Rheinmetall released its 1H 2025 results on 7 August, continuing the strong growth of recent years. A particular highlight of the result’s presentation was the Skyranger air defence system for which the company is predicting sales of about US$8.2 billion from the German Government before the end of the year.
-
![Defence companies continue to ride procurement wave]()
Defence companies continue to ride procurement wave
Vehicle and technology companies are reporting substantial growth compared to the first half of 2024. Italy’s Fincantieri saw revenues jump 24% for the first half of the year compared to 2024 and Thales up 6.8% for the same period. General Dynamics reported second quarter revenue growth of 8.9% for the second quarter compared to last year and MilDef reported organic order intake growth of 58%.
