Leonardo posts a 5% increase in revenue in 2021
Italian multinational aerospace, defense and security company Leonardo recorded revenues of 14.1 billion euros in fiscal year 2021, an increase of 5%, compared to 13.4 billion euros recorded in 2020.
This increase was attributed to the strong performance of the European defense and security electronics component. The Aircraft unit of the Aeronautics and Helicopters segments also contributed to the increase.
The company’s earnings before interest, taxes, depreciation and amortization (EBITA) in 2021 amounted to 1.12 billion euros. This figure represents an increase of 19.7% compared to 938 million euros in 2020.
Net profit increased by 142% on an annual basis (YoY), from 243 million euros to 587 million euros.
The total value of new orders for the year amounted to €14.31 billion, up 4% compared to 2020. The order backlog remained stable at €35.53 billion.
Leonardo CEO Alessandro Profumo said: “We are back on our growth path and above pre-covid levels, excluding Aerostructures, for which a restructuring and recovery plan is underway. Our Defense and Government businesses remain strong and account for 88% of 2021 revenue, and we are seeing signs of recovery in our civil aerospace business.
“We are fully committed to ESG. We reduced CO₂ emissions by 23% and increased the percentage of women hired with STEM profiles and young people under 30. 50% of our sources of funding are related to ESG, with objectives perfectly aligned with our strategy and our long-term incentive plan. .”
The company has also decided to resume dividends, based on its 2021 performance.
In 2022, Leonardo expects order volumes of around €15 billion, given the impact of the current global geopolitical and health situation on the supply chain and the economy.
Annual revenues are expected to be between €14.5 billion and €15 billion.
Earlier this year, Leonardo completed the acquisition of a 25.1% stake in German defense technology company Hensoldt.