For the first quarter of 2017 (1Q2017) Leonardo reported that new orders amounted to €2,647m, 3% higher than in the first quarter of 2016 (1Q2016). The book-to-bill ratio reached 1.1 compared to 1 of the same period of 2016. The order backlog amounted to €34,832m (+25% vs. March 2016). This is increasingly solid as it is built on a more rigorous selection of orders. The backlog ensures almost 3 years of equivalent production. Revenues amounted to €2,476m -2,4% vs. 1Q2016, mainly because of lower volumes in Helicopters, and some negative GBP/€ forex effects.
EBITDA amounted to €330m, +1.2% compared to €326m of 1Q2016. Also the EBITDA margin was higher at 13.3% compared to 12.9% of 1Q2016.
EBITA amounted to €187m, 14% higher than the €164m of 1Q2016, mainly supported by Aeronautics and Electronics, which more than offset lower Helicopters. RoS was at 7.6%, 110 bp higher than the 6.5% of 1Q2016, mainly thanks to Electronics.
EBIT amounted to €155m, 15.7% higher than the €134m of 1Q2016. Also the EBIT margin, at 6.3%, increased by 100 bp compared to 5.3% of 1Q2016.
Net Result before extraordinary transactions amounted to €78m, 39.3% higher than the €56m of 1Q2016 thanks to improved EBIT. Net Result amounted to €78m, in absence of extraordinary transactions, 21.9% higher than the €64m of 1Q2016, which benefitted from the capital gain on the disposal of FATA.
Up to 26,000 jobs secured in Spain until 2060 with latest Eurofighter contracts
A recent study by Pricewaterhouse Coopers (PWC) shows clear indications that two Eurofighter programme contracts will secure up to 26,000 jobs in Spain. The study was funded by Airbus and took six months to complete. The report focuses on the economic impact of the ‘Halcon’ and ‘Quadriga’ contracts which are relevant to Spain. The report