(ANSA) - ROME, 03 MAY - Leonardo's board of directors, which met under the chairmanship of Luciano Carta, unanimously approved the results for the first quarter of 2023. The net result is 54 million euros, on an adjusted basis to exclude the effect of strategic participations and Hensoldt, in line with the first quarter of 2022 when it was 56 million.
The net ordinary result is instead equal to 40 million euro, compared with the 74 million euro of the previous year.
The 2023 guidance is confirmed.
Orders are expanding to 4.9 billion, an increase of 29.3%, on the adjusted figure compared to the first quarter of 2022, thanks in particular to the excellent performance of the helicopters.
The level of orders for the quarter is equivalent to a book to bill (ratio between orders and revenues for the period) of around 1.6.
And the order backlog amounts to 39.1 billion, equal to more than 2.5 years of production.
Free operating cash flow was a negative €688 million, an improvement of approximately €400 million compared to the first quarter of 2022.
Revenues also rose to 3 billion, (+2.6%) on an adjusted basis.
And there is a reduction in net debt of 1.1 billion euros compared to the first quarter of 2022, thanks to the strengthening of the Group's cash generation.
Operating result Ebita amounted to 105 million on an adjusted basis (+4.4%).
"The commercial and financial results of the first quarter show a positive trend in line with expectations", says Leonardo's CEO, Alessandro Profumo.
"In the first three months - he adds - we have once again demonstrated the competitiveness in the defense / government business and the continuous improvement in the performance of the Aerostructures. The group is solid and sustainable in the long term, with the ability to seize future growth opportunities".
(HANDLE).
