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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Italy’s Leonardo reports 4.8% gain in revenue during H1