In light of the results achieved in 2025 and the strategic direction outlined in the 2026–2030 Industrial Plan, the Group is positioned on a path of strong growth, supported by a strengthening of profitability and cash generation.
Based on the current assessments of the impacts of the geopolitical situation also on supply chain, inflationary levels and the global economy, subject to any further significant effects, Leonardo expects for 2026, on a like-for-like basis:

(*) Assuming exchange rate of 1.18 €/USD and 0.86 €/GBP.
(**) Excluding cash outflows related to the acquisition of Iveco Defence Vehicles, estimated at €1.7 bn.