Leonardo reported FY results in line with expectations. These were in line with January 2018’s revised guidance but were so much weaker than what it was expecting in mid-2017. The underperformance this year was due almost exclusively to the helicopter activity because of weak demand and execution issues. For FY18, the group expects revenues to be almost flat yoy and its FOCF to be strongly affected by the inventory build-up requirements for a Eurofighter large delivery.
16 Mar 2018
Welcomed new large order, but still long path to recovery
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Welcomed new large order, but still long path to recovery
Leonardo reported FY results in line with expectations. These were in line with January 2018’s revised guidance but were so much weaker than what it was expecting in mid-2017. The underperformance this year was due almost exclusively to the helicopter activity because of weak demand and execution issues. For FY18, the group expects revenues to be almost flat yoy and its FOCF to be strongly affected by the inventory build-up requirements for a Eurofighter large delivery.