The expected 2023 performance confirms the sustainable growth path accompanied by increasing profitability and cash flow generation, notwithstanding a context characterized by higher macroeconomic and geopolitical uncertainties.
The actions promptly implemented by the Group allow the mitigation of effects generated by inflationary pressures due to the Russia-Ukraine conflict.
Based on the current assessment of the effects deriving from the geopolitical situation on supply chain, inflation and global economy, and assuming no additional major deterioration, Leonardo expects to deliver in 2023:
- High level of New Order Intake of ca. 17 € billion, confirming a strong positioning of the Group's products and solutions and presence in key markets
- Revenues of € 15.0 – 15.6 billion, up compared to 2022, thanks to the contribution of new orders and the development of portfolio activities on defence/governmental programmes
- increasing profitability, with EBITA of € 1,260 – 1,310 million, driven by growth in volumes and continued solid industrial profitability of the main business areas, despite the mix effect of programmes still under development and relevant shares of prime contractor revenues; the estimate still reflects some pressure in the civil Aeronautics, mainly Aerostructures, despite a gradual improvement year over year
- FOCF of ca. € 600 million, with the defence/governmental business guaranteeing solid cash generation, while Aerostructures continues to absorb cash although slightly less than 2022
- Group Net Debt of ca. € 2.6 billion, driven by cash flow generation and assuming dividend payment of € 0.14 per share and new leases for ca 100 mln