Helicopter manufacturer Leonardo reported a "growing backlog" of orders at the end of the first quarter 2023 (Q1 2023), which was priced at € 39.1bn,
The backlog was equivalent "to more than 2.5 years of production", the company said, reporting what it said was otherwise a "strong performance"in early 2023, which left group net debt reduced by €1.1bn compared to Q1 2022, an outcome it said was "thanks to the strengthening of the group's cash generation".
The company took new orders of €4.9bn during Q1 2023, while it reported $3bn in revenue, earnings (EBITA) of €1.1bn and a net result of €542 million.
Chief executive Alessandro Profumo said the performance was "in line with expectations"
"In the first quarter we again demonstrated our competitive strength in our main defence and governmental business and the continuing performance improvement in aerostructures," he added.