Leonardo - Finmeccanica : Central costs should not obscure the improvement in underlying operations
>Central costs spiral... - We have lowered our EPS sequence for 2019-2020-2021-2022 by -1.5%, -0.8%, -0.1% and 0%, respectively, mainly to factor in higher-than-expected central costs. While part of these costs was already allocated to the different divisions the company has clearly chosen to accelerate its level of investment to support its sales growth ambitions outside its domestic markets with an effort to expand its network internationally (hiring abroad, support...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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