Leonardo - Finmeccanica : Q3 results ahead of expectations – Optimisation of debt
>Q3 2019 EBITA 10.6% ahead of forecasts - Whilst Q3 is traditionally a weaker contributor to full-year EBITA (c17% on average), the Q3 2019 performance is nonetheless significant with EBITA of € 199m (+23%), i.e.10.6% higher than the consensus estimate compiled by the company (ODDO BHF’s estimate: € 170m, consensus: € 180m). Net profit also largely exceeded expectations at € 115m but integrates an unusually low tax rate and financial charges that were lower than what...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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