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
-
![US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule]()
US speeds up B61-13 nuclear bomb production as programme moves further ahead of schedule
The US government plans to accelerate production even further after achieving key B61-13 milestones months ahead of schedule, as the programme advances amid growing US-China strategic competition.
-
![New UK armed forces minister frames High North defence as vital to “homeland security”]()
New UK armed forces minister frames High North defence as vital to “homeland security”
The UK’s Minister for the Armed Forces Louise Sandher-Jones made her first appearance in the role before the House of Commons Defence Committee this week to highlight efforts to improve capability in the High North.
-
![Canada seeks to strengthen industrial ties with the US on classified programmes]()
Canada seeks to strengthen industrial ties with the US on classified programmes
Ottawa explores expanding defence-industrial cooperation with Washington into sensitive programmes, an approach that could reshape NORAD modernisation, strengthen North American supply chains and create new opportunities for defence contractors.
