3Q/9M2020 Results Presentation
Alessandro Profumo | Chief Executive Officer |
Alessandra Genco | Chief Financial Officer |
Rome, 5 November 2020
Agenda
> | Key messages | Chief Executive Officer |
> | 9M 2020 Results | Chief Financial Officer |
- Sector Results
- Appendix
2
3Q/9M2020 Results Presentation
Key messages
Well positioned, resilient business reacting effectively to changing market dynamics
- Successfully and effectively responding to short term challenges with business performing well in the current macro environment
- Very good performance in military / governmental business and Customer Support & Training, offsetting softness on the civil side
- Proven ability to capture opportunities in growing military / governmental markets and international programmes
- Significant backlog providing resiliency and visibility
- Productivity is continuing to increase and order intake is showing positive signs
- Strong confidence in our core business fundamentals and well positioned for the medium-long term
© 2020 Leonardo - Società per azioni | 3 |
3Q/9M2020 Results Presentation
Demonstrating resilience in extreme market conditions
ORDERS € 8.5 bn
COMMERCIALLY
STRONG
- Inevitable civil slowdown offset by continued military / governmental performance
- Strong support from domestic customers (i.e Helicopters up ca. 41% YoY)
- Resilient customer support and training
13% 36%
51%
HELICOPTERS | AERONAUTICS |
DEFENCE ELECTRONICS & SECURITY
SOLID RESULTS
HIGHER
PRODUCTIVITY
REVENUES € 9 bn | EBITA € 497 mln | |||||||||||||||||
RoS +5.5% | ||||||||||||||||||
28% | ||||||||||||||||||
25% | 15% | 35% | ||||||||||||||||
47% | 50% | |||||||||||||||||
HELICOPTERS | AERONAUTICS | HELICOPTERS | AERONAUTICS | |||||||||||||||
DEFENCE ELECTRONICS & SECURITY | DEFENCE ELECTRONICS & SECURITY | |||||||||||||||||
- Industrial efficiency back to normal in September
- Productive hours recovering shortfall
Productive hours vs budget
EBITA +3% YoY IMPROVEMENT IN 3Q2020 | |||||
-75% YoY | -23% YoY | +3% YoY | -75% YoY | -40% YoY | -28% YoY |
205 | 497 | ||||
€mln | 251 | €mln | 292 | ||
41 | 41 | ||||
1Q2020 | 2Q2020 | 3Q2020 | 1Q2020 | 1H2020 | 9M2020 |
COST CUTTING MEASURES BEARING FRUIT
BUDGET 2020 | FY2020 | 9M2020 | |
BASELINE | TARGET | ACHIEVEMENT | |
LABOR COST | € 2.9 bn | ca. | ✔ |
CONTROLLABLE COSTS | € 1.4 bn | € 450 mln | ✔ |
-15%
-11%-7%
NET INVESTMENTS** | € 700-750 mln | 40-50% | ahead of expectations |
1Q2020 2Q2020 3Q2020
** Benefitting from Government Grants
INCREASINGLY
AGILE
STRONG LIQUIDITY AND FINANCIAL FLEXIBILITY
- System promptly reacting / operational machine responding to new environment
- Rightsized our businesses for demand (i.e. Helicopters in the UK and ATR)
- Re-orientedcommercial effort leveraging key pockets of demand
• | FOCF heavily weighted towards Q4 | • | No need to raise equity |
• | No need for additional liquidity | • | No refinancing needs until 2022 |
© 2020 Leonardo - Società per azioni
successfully navigating and responding to 2020 short term challenges | 4 |
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Leonardo S.p.A. published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 18:31:01 UTC