Preliminary Q4 2024 Leonardo SpA Earnings Call Transcript
Key Points
- Leonardo SpA (FINMF) reported a significant increase in new orders, reaching EUR20.9 billion, a 12.2% increase from the previous year.
- The company achieved a substantial revenue growth of 11%, increasing from EUR16 billion to EUR17.8 billion.
- EBITA increased by 12.9% to EUR1.52 billion, indicating improved operational efficiency.
- Free operating cash flow rose by 26.7% to EUR826 million, surpassing the guidance of EUR770 million.
- Net debt was reduced by approximately 22.7%, from EUR2.3 billion to EUR1.8 billion, demonstrating strong financial management.
- The Aerostructures division continues to face challenges due to the Boeing crisis, impacting profitability.
- The SatCom business, connected to the space alliance with Thales, also experienced difficulties, affecting overall performance.
- Despite improvements, the delivery rate for the B787 fuselage remains lower than expected, affecting the Aerostructures division.
- The Space division's performance was impacted by challenges in the telco satellite segment, leading to lower EBITA.
- The company faces ongoing external challenges in the B787 program and the Space telco segment, which could affect future performance.
Good afternoon, ladies and gentlemen. Welcome to our full-year 2024 preliminary results presentation.
I'm Valeria Ricciotti, Head of IR. Today, our CEO, Roberto Cingolani, will take you through the important progress that we achieved during last year; and our CFO, Alessandra Genco, will then take you through the full-year 2024 preliminary results, in more detail. We will then welcome your question.
Please note that the call will last no longer than one hour.
Throughout this call, we may be making forward-looking statements. I invite you to refer to our Safe Harbor statement in the presentation slides, which also applies to this call.
Please also note that the approval of the draft statutory financial statements and the consolidated financial statement of Leonardo as of December 31, 2023, is scheduled for March 11, '24. And, therefore, the data reported in this presentation should be considered unaudited, as the audit process by the appointed Auditor has not yet been completed.
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