The business of companies producing military and defense equipment is booming. This is also proven by the business results of one of the largest such companies in the world, the Italian Leonardo, which boasted that the volume of new orders rose by more than a fifth.
Last year, Leonardo’s profit amounted to 932 million euros, which is a good 58 percent more than the year before. The volume of new orders rose by 21 percent to 17.3 billion euros.
The administration he leads Alessandro Profumo, at the presentation of last year’s accounts, highlighted the firmness, resilience and innovation of the company, which is ready for the “complex challenges” of the present. The company also managed to reduce its debts, which now amount to a good three billion euros.
Leonardo, which is 30% owned by the Italian state, operates in the field of military equipment, aviation and information security. It is the largest predominantly defense company in the European Union and the 12th in the world. It employs more than 50,000 people in Italy and 20 other countries.
Positive business results were also expected by the Milan Stock Exchange, where Leonardo’s shares rose in price by a third since the beginning of the year.
According to analysts, the company increased its profit and volume of business mainly at the expense of higher demand from NATO member states after the start of the war in Ukraine. Profumo approves more budget spending for defense in Europe, saying that a “change in mindset” is “extremely important”.
Leonard also announced that these days they concluded contracts for the production of 50 light AW09 helicopters, and in cooperation with the American Boeing, also for 13 combat helicopters of the MH-139A type ordered by the US Air Force.