Leonardo new orders for 2016 amounted to EUR 19,951 million, materially higher (+61%) than 2015.
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This is mainly due to the acquisition of the contract for the supply of 28 Eurofighter Typhoon aircraft to the Kuwaiti Ministry of Defence, for an overall value of approx. €bil. 7.95, and despite a negative impact from the GBP/€ exchange rate for approximately 400 million.
Consequently, the book-to-bill ratio reached 1.7.
Order Backlog: amounted to EUR 34,798 million (+21% vs. 2015). This is increasingly solid as it is built on a more rigorous selection of orders. The backlog ensures almost 3 years of equivalent production
Revenues: amounted to EUR 12,002 million (-7,6% vs. 2015).
This is due to the reduction in Helicopters, affected by some weakness in civil markets caused by though market conditions in Oil&Gas, to the change in perimeter namely in DRS and FATA and to the negative impact of the GBP/€ exchange rate (ca. 300 million).
EBITDA: amounted to EUR 1,907 million, 2.2% higher than the 1,866 million of 2015. Also the EBITDA margin, at 15.9%, increased by 150 bp compared to 14.4% of 2015.
EBITA: amounted to EUR 1,252 million, 3.6% higher than the 1,208 million of 2015, despite softer revenues and the negative impact of the GBP/€ exchange rate for about 30 million. RoS was at 10.4%, 110 bp higher than the 9.3% of 2015 thanks to improvements reported in all sectors and stable results in Helicopters, despite the difficulties encountered in target markets.
EBIT: amounted to EUR 982 million, 11.1% higher than the 884 million of 2015. Also the EBIT margin, at 8.2%, increased by 140 bp compared to 6.8% of 2015.
Net Result before extraordinary transactions: amounted to EUR 545 million, 115.4% higher than the 253 million of 2015 thanks to improved EBITA, a reduced volatility of below-the-line items and a reduction in financial costs and a lower tax impact
Net Result: amounted to EUR 507 million, 20 million lower than the 527 million of 2015 mainly due to a lower contribution of Extraordinary Transactions compared to 2015, which benefited from significant capital gain from the disposal of the Transportation sector to Hitachi (€ mil. 274).
2016 also reflects the effects of the reorganization of assets with Sukhoi in Aeronautics and the sale of the Environmental business of DRS, net of the capital gain on the disposal of FATA. ■