FINMY - Leonardo S.p.a. (FINMF) Q1 2024 Earnings Call Transcript
2024-05-11 18:10:25 ET
Leonardo S.p.a. (FINMF)
Q1 2024 Results Conference Call
May 06, 2024 12:30 PM ET
Company Participants
Valeria Ricciotti - Head of IR
Roberto Cingolani - CEO
Alessandra Genco - CFO
Conference Call Participants
George Zhao - Bernstein
Virginia Montorsi - Bank of America
Ian Douglas-Pennant - UBS
Alessandro Pozzi - Mediobanca
David Perry - JPMorgan
Martino De Ambroggi - Equita
Gabriele Gambarova - Banca Akros
Presentation
Valeria Ricciotti
Good evening, everybody, and thank you for joining us for this First Quarter 2024 Results Presentation. I'm Valeria Ricciotti, Head of IR and Credit Grid agencies. Today, our CEO, Roberto Cingolani, will take you through our progress during the first quarter of this year. And then our CFO, Alessandra Genco, will take you through the Q1 financial results and the outlook for the full year. And then as usual, we will welcome your questions.
And with this, I leave the floor to our CEO, Roberto Cingolani.
Roberto Cingolani
Hi, guys. Nice to meet you again, and welcome to our new digital facility production facility. I hope you will like and the presentation will be clear. So today, we are going to tell you what happened in the first quarter. The numbers are very encouraging. We're very happy to show you the numbers today. Let me show you quickly the agenda. I will start with the executing the industrial plan and then the first quarter results and then Alessandra will give you all the numerical details. The start of the year was really strong. Just let me summarize, orders are increased by 14.9%, up to $5.8 billion with a book-to-bill of 1.6. The backlog of orders has reached a record level, more than EUR43 billion and the revenues are up by 15.3%, up to EUR3.7 billion. The group EBITDA has grown by 67% up to EUR182 million, and the free operating cash flow at EUR621 million improved by 11.5%. So what we are pumping up is now much better than the last year. With those numbers, we feel that the start is good. This is 20% of the year We believe this is quite on track with respect to the guidance for 2024. So far, so good. Let me tell you that we are fully focused on the execution of the industrial plan that you've seen from us a couple of months ago. So strengthening the core business, you remember, making our platforms, aircraft, airplane, electronics, more attractive, more digital. Meanwhile, paid the way to address the global security challenge and building up the future of Leonardo, so the complementary new platforms like cybersecurity space that will contribute together with the traditional core business in creating this multi-domain cross-domain multi operating system for the future defense....
Leonardo S.p.a. (FINMF) Q1 2024 Earnings Call Transcript