Leonardo : Strong action in Aerostructures would favour a further re-rating
>Robust Q3 2024 results driven by defence - Leonardo yesterday reported robust Q3 2024 results that beat expectations across the board, though the contribution of a quarter that has represented just 18% of full-year EBITA on average over the last 10 years should be seen in perspective. EBITA came in 14.3% ahead of expectations at € 263m (+22.9%) on sales of € 4,091m (+21.2%), giving a margin of 6.4% (+10bp). The gap with our estimates stems solely from the defence act...Leonardo is the holding company for The Finmeccanica Group, and is responsible for guiding and controlling industrial and strategic operations, coordinates its subsidiaries. The Finmeccanica Group operates in the Aerospace and Defence sector, which includes the Helicopters, Defence and Security Electronics, Aeronautics, Space and Defence Systems segments; and in the Transportation sector, which also includes Fata S.p.a., in addition to the companies operating in the transportation sector.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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