The first nine months of the year recorded solid results, in terms of growth in orders, increased profitability and strengthening of cash performance, in line with the objectives set.The increased demand for defence and security linked to the geopolitical scenario generates positive prospects for the defence sector. At the same time, there is a more complex operational context, in particular in the labour market and the supply chain, which entails important challenges to be faced and managed. In light of the solid progress in the first nine months and based on the current assessment of the impacts from the geopolitical and health situation on the labour market, on the supply chain, the outlook for the global economy and the actions taken by Leonardo to face these challenges, assuming no additional major deterioration, along side the changes in perimeter deriving from the sale of GES, the Group updates the Guidance 2022 as follows:
- Increase in new order intake from ca. € 15 billion to a level higher than € 16 billion, mainly due to the AW149 Poland contract booked in the 3Q 2022
- Confirmation of the expectations made in the preparation of the 2021 Financial Statements relating to Revenues and EBITA, taking into account the effect of change in perimeter (Revenues € 14.4-15.0 billion; EBITA € 1,170 -1,220 million)
- Upward revision of the FOCF from ca. € 470 million, including perimeter effect, to ca. € 500 million
- Reduction of the Group's Net Debt, from ca. € 3.1 billion to ca. € 3.0 billion, due to the higher disposal proceeds which more than offset the redemption cost of the US dollar bonds. The Net Debt also includes expectations relating to the FOCF, the acquisition of 25.1% of Hensoldt and the dividend payment