Leonardo - Finmeccanica : Credence lent to the 2020 plan = re-rating triggered
>A successful first year… - After a lacklustre Q3 2018 which had revived doubts about the speed of the recovery in Leonardo's profits, the reported Q4 figures signify that the new management team has come through its first full year successfully, overshooting all of its targets. Excluding the contribution of joint-ventures (ATR, MBDA and Espace), the operating margin rose 44bp vs 2017, more or less entirely driven by the recovery in helicopters which is reaping the in...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.
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