Leonardo - Finmeccanica : JVs exerting a drag but core business improving faster than expected
>Q2 in line with forecasts driven by core business… - After an adjustment for a one-off item of € 20m in helicopters due to the revision of the pension scheme in the UK, Q2 2019 EBITA came to € 304m, in line with forecasts (ODDO BHF: € 287m, consensus: € 307m) on sales growth of 3.2% to € 3.2bn. Two divisions contributed to this performance: i/ underlying EBITA of helicopters rose 24% (margin of +220bp) driven by the military arm, the government business and support w...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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