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AIR - Airbus SE News Story

€113.04 -1.8  -1.6%

Last Trade - 17/09/21

Sector
Industrials
Size
Large Cap
Market Cap £75.79bn
Enterprise Value £77.30bn
Revenue £47.44bn
Position in Universe 13th / 840

UPDATE 1-Leonardo confirms 2021 guidance after 37% rise in H1 core profit

Thu 29th July, 2021 5:56pm
(Adds financial details)
    MILAN, July 29 (Reuters) - Italian defence group Leonardo
 LDOF.MI  stuck to its full-year guidance after its government
and military business more than offset weakness in civil
aviation to boost first-half earnings.
    Between January and June, earnings before interest, tax and
amortisation (EBITA) rose 37% over the prior year to 400 million
euros.
    Revenues grew 7.9% thanks to solid demand for helicopters
and defence electronics. Leonardo's aerostructure business,
which makes parts for Boeing  BA.N  and Airbus  AIR.PA , saw a
35.5% fall because of the protracted negative impact of the
pandemic.
    Leonardo expects full-year core earnings of between 1.075
billion and 1.125 billion euros and a fall in net debt to 3.2
billion euros.
    Leonardo CEO Alessandro Profumo said in a statement the
group remained cautious on the timing of an eventual recovery in
civil aviation despite some recent "positive signs."
    The Rome-based group also said it was sticking to a plan to
list its U.S. unit DRS when market conditions allowed, after
pulling the initial public offering in March due to expected
cuts in U.S. defence spending. urn:newsml:reuters.com:*:nL8N2LN144
    Earlier on Thursday, Leonardo and other partners were
awarded a 250 million pound contract under Britain's Tempest
fighter jet project.  urn:newsml:reuters.com:*:nL8N2P53SE
    

 (Reporting by Andrea Mandalà, editing by Valentina Za and
Cynthia Osterman)
 ((andrea.mandala@thomsonreuters.com; +390680307738;))
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