Leonardo Reports Revenue Growth in 2024

Leonardo has reported a 17.6% increase in revenue for the first nine months of 2024, reaching €12.07 billion, with new orders rising by 11.1% to €14.75 billion. This growth is primarily driven by the Defence Electronics and Security and Helicopters divisions, which contributed €7.43 billion and €4.80 billion respectively. In the third quarter alone, revenue exceeded market expectations at €4.09 billion, attributed to increased military spending by Western governments. Despite these gains, the company has refrained from raising its full-year guidance, citing manufacturing delays at Boeing. Additionally, Leonardo's strategic initiatives, including a joint venture with Rheinmetall, are set to enhance its international market positioning. The company also reported a significant reduction in net debt by 19%, showcasing effective financial management.