Leonardo’s new orders amount to €14.75bn for the recorded period. Credit: Piotr Swat/Shutterstock.

Leonardo has reported revenue of €12.07bn ($13.01bn) in the first nine months of 2024, a 17.6% rise from €10.26bn in the same period the previous year.  

Leonardo’s new orders rose by 11.1% to €14.75bn for the recorded period, compared to €13.27bn in the same period last year.  

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These growths were significantly driven by the company’s Defence Electronics and Security and Helicopters divisions. 

The Helicopter sector contributed €4.80bn, while the Defence Electronics and Security sector accounted for €7.43bn of the new orders. 

The company’s net result improved to €730m, from €301m in the same period in 2023. 

Both basic and diluted earnings per share increased to €1.180 from €0.483 in the year ago. 

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The company’s earnings per interest, tax, depreciation and amortisation (EBITDA) rose to €1.22bn from €1.07bn a year earlier.  

Free operating cash flow also showed progress, improving to negative €550m from a negative €604m in 2023. 

The company’s cash generation, along with the sale of a minority stake in Leonardo DRS in the last quarter of 2023, has improved the group’s net debt, which now stands at €3.12bn. 

Leonardo CEO and GM Roberto Cingolani said: “The economic-financial performance of the period, together with the development of the business and the strengthening of the financial indicators, plus the implementation of the existing efficiency programme, is all confirming the validity of the path undertaken in pursuing the objectives indicated in the Industrial Plan.” 

Looking ahead to the end of the fiscal year 2024, Leonardo anticipates revenues to be approximately €16.8m and new orders to reach around €19.5m.  

In October 2024, the Nigerian Air Force revealed its intent to acquire 24 M-346 Fighter Ground Attack jets and ten AW-109 Trekker helicopters from Leonardo.