Leonardo : T3 en ligne – objectif FOCF tenu
>Un nouveau signe de l’amélioration de la génération de cash - Leonardo vient de publier un T3 exactement en ligne avec les attentes au niveau de l’EBITA à 201 M€ (ODDO BHF : 191 M€, Cons : 200 M€), en retrait de 2.9% par rapport au T3 2021, pour un CA de 3 341 M€ (+3.8%). La marge de 6% est pénalisée de 80 pb selon nos calculs par des pass through. Par rapport à nos estimations, l’écart provient en positif de Helicopters (EBITA de 83 M€, +10.7%, soit une marge de 8% ...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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