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.
More from Defence Notes
-
![What will next-gen counter-UAS capabilities for the US look like?]()
What will next-gen counter-UAS capabilities for the US look like?
Future US counter-uncrewed aerial system solutions are likely to require a flexible, multi-layered approach to tackle a broad spectrum of new threats as they emerge.
-
![Elbit Systems awarded $2.3 billion contract as results soar]()
Elbit Systems awarded $2.3 billion contract as results soar
The company’s order backlog as of 30 September totalled $25.2 billion and more than a third of this is scheduled to be fulfilled before the end of 2026.
-
![US military foresees growing use of 3D printing]()
US military foresees growing use of 3D printing
Advanced manufacturing has evolved to meet military requirements and now supports multiple US critical assets, including Arleigh Burke-class destroyers, F-18, F-22, F-35, Bradley, HMMWV and Patriot.
-
![Irish Naval Service expands as the country looks to defence during EU presidency]()
Irish Naval Service expands as the country looks to defence during EU presidency
The Irish Naval Service has struggled to maintain capability, particularly in the face of lucrative private sector offers luring away personnel.
