The Italian Leonardo Group will exceed its financial objectives for the full year, given the good results achieved so far in 2025," said president Roberto Cingolani on Wednesday. Earlier, during the first 9 months of the year, the aviation and defence sector group saw a two-digit increase in orders, revenues and base profit year-on-year.
Although the group did not update its forecasts, Cingolani told analysts during the conversation that it was “certain numbers... and is certain that we will accomplish the goals set”, however, he did not specify which ones.
The financial manager of Alessandra Genco stated that, given that "procurements do not grow linearly", procurement forecasts were confirmed and would scope the level established on the basis of the mid-year results. In July, the company improved its 2025 forecast for orders, free cash flows and net debt, estimating the value of orders between EUR 22.25 and EUR 22.75 billion (25.95–$26.53 billion).
The results for the first 9 months of the year were influenced by the signing of the agreement for the support and training of the Eurofighter programme of Kuwaiti air force, as well as the increase in revenues in electronics and helicopters departments. The Group besides noted larger orders for its space companies, including production and Telespazio, 1 of the joint ventures with French Thales, as it is increasingly focusing on the space industry.
After Cingolani reduced his stake in Avio's rocket company last week from little than 29% to just over 19%, he explained that for Leonardo it would not make sense to “support” 2 companies producing rockets. Avio late launched a capital increase of EUR 400 million, mainly to finance the construction of an American mill that will produce solid fuel rocket engines for rocket missiles. Leonardo is already part of the European rocket maker MBDA, a joint venture with Airbus and British BAE Sustems.
"We would... surely be curious in another companies investing more in (Avio)," Cingolani said, adding that Leonardo would hold shares in Avio. Leonardo benefited from expanding defence spending in Europe following Russia's invasion of Ukraine in 2022. The company besides expanded its operations through partnerships with German companies Rheinmetall and Baykar in the field of drone technology.
