2023-07-28 15:18:20 ET

Leonardo ( OTCPK:FINMF ) ( OTCPK:FINMY ), Italy’s state-run aerospace and defense company, said revenue rose during the first half of the year, another sign of rising demand for as the war in Ukraine enters its 16 ^th month.

Revenues rose 4.8% from a year earlier to 6.89 billion euros ($7.57 billion) in the first half. EBITDA advanced 3.5% to 703 million euros.

Leonardo's new orders rose 19% from the prior year to about 8.69 billion euros in the first half. Net debt fell 25% from the prior year to 3.64 billion euros.

The company seeks to expand into “new initiatives, with the strengthening of the fastest-growing sectors, such as space and cybersecurity,” Roberto Cingolani, a former energy and environment minister who became CEO in May, said in a statement. “We will also give a renewed boost to the digitalization of our entire product portfolio to further increase our competitiveness in all our domestic and international markets.”

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