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Leonardo – Finmeccanica on the rise at Piazza Affari following the release of the first nine months, published in closed markets. Securities score one of the best performances on the market.
In detail, the group closed the first nine months with a net profit of 465 million, an increase of 77% compared to the same period in 2018. The result benefited from the effects of the release of most of the provision set aside for the guarantees given in opportunity for the sale of Ansaldobreda's transport business. The growth in new orders was strong, at € 8.6 billion, net of the € 3 billion effect on the Qatar NH90 contract entered in the portfolio in the third quarter of 2018. The order book rose to € 35.672 billion (+3, 4%). Revenues amounted to € 9.1 billion (+ 11%). The number one, Alessandro Profumo, confirmed the 2019 guidance.
Equita analysts recommend a 'Buy' on equities, in light of the numbers released. "Yesterday, during the conference call, it was confirmed that in 2019 the declining divisions, ie the Space and ATR divisions, will be offset by the improvement of the others", commented the SIM experts. In addition, financial charges will be better than previously indicated and will be less than 300 million, analysts pointed out.
(Il Sole 24 Ore Radiocor)