Formerly | Finmeccanica (1948–2016) Leonardo-Finmeccanica (2016) |
---|---|
Company type | Public |
Industry | |
Founded | 1948 |
Headquarters | Rome, Italy |
Area served | Worldwide |
Key people |
|
Products | Aeronautics, aircraft, helicopters, electronics, defence systems, remote controlled weapon stations, turrets, autocannons, rotary cannons, naval artillery, missiles, torpedoes, unmanned ground vehicles, unmanned underwater vehicles |
Revenue | €15.3 billion (2023) |
€695 million (2023) | |
Total assets | €28.38 billion (2021) |
Total equity | €6.46 billion (2021) |
Owner | Ministero dell’Economia e delle Finanze (30.2%) [1] BlackRock, Inc. (3.0%) [2] |
Number of employees | 50,413 (2021) |
Subsidiaries |
|
Website | www |
Footnotes /references [3] |
Leonardo S.p.A., formerly Leonardo-Finmeccanica and originally Finmeccanica, is an Italian multinational company specialising in aerospace, defence and security. Headquartered in Rome, Italy, the company has 180 sites worldwide. [4] It is the 12th largest defence contractor in the world based on 2020 revenues. [5] The company is partially owned by the Italian government, which holds 30.2% of the company's shares and is its largest shareholder.
On 1 January 2016, Leonardo-Finmeccanica became a single industrial company by integrating the activities of its subsidiaries AgustaWestland, Alenia Aermacchi, DRS Technologies, Selex ES, OTO Melara and WASS. The company is organised into five divisions (Helicopters, Aircraft, Aerostructures, Electronics, Cybersecurity). It is also the parent company and corporate centre for the subsidiaries and joint ventures Telespazio, Thales Alenia Space, MBDA and ATR. Leonardo is listed on the Borsa Italiana and is a constituent of the FTSE MIB and Dow Jones Sustainability Indices.
As of April 2016 [update] , the company was known by the transitional name of Leonardo-Finmeccanica, as part of the restructuring process of the company carried out by CEO Mauro Moretti from the beginning of his mandate in 2014. The company changed its name to Leonardo S.p.A. on 1 January 2017, after the Italian inventor Leonardo da Vinci. [6] [7]
Società Finanziaria Meccanica, "Finmeccanica", was established in 1948 as the mechanical engineering subholding of the state-owned Istituto per la Ricostruzione Industriale (IRI). Finmeccanica has held for years some historic Italian enterprises, as Alfa Romeo (automobiles), Aeritalia (aerospace) and Ansaldo (engineering). [4]
From the 1960s to the 1980s Italy's defence and aerospace industry was split into state-holding entities: EFIM owned the helicopters manufacturer Agusta, the defence company Oto Melara and the electronic enterprise Officine Galileo. STET (another IRI subsidiary) held Selenia, Elsag and SGS Thomson, all electronic enterprises with specializations in security and defense. In 1989, an internal IRI reorganization process brought STET electronic enterprises to Finmeccanica, and the Aeritalia-Selenia merger constituted its aerospace subsidiary Alenia. [5]
In 1992 EFIM was wound up because of its troubled financial situation; and Agusta, Oto Melara, Officine Galileo and Breda passed to Finmeccanica, which became one of the main Italian industrial groups. Finmeccanica, which was previously fully state owned by IRI, became partly privatized in 1993, when it was listed in the Milan Borsa Italiana stock exchange.
In 1992 Finmeccanica's Agusta became a 32% partner in NHIndustries, the prime contractor for the NH90 helicopter, along with Eurocopter (62.5%) and Fokker (5.5%).
In July 2000 Finmeccanica and the British GKN agreed to merge their respective helicopter subsidiaries (Agusta and GKN-Westland Helicopters) to form AgustaWestland. In December 2001, the missile business of Alenia Marconi Systems (AMS), a joint Finmeccanica/BAE Systems company, was merged with other European missile manufacturers to form MBDA, which became the world's second largest missile manufacturer. [8] In July 2003 Finmeccanica and BAE Systems announced their intention to set up three joint venture companies, to be collectively known as Eurosystems. These companies would have pooled the avionics, C4ISTAR and communications businesses of the two companies. [9]
In March 2007, BAE Systems sold its 25% share to Finmeccanica for €400 million. [10] In January 2013 the company merged with Finmeccanica's other defence electronics companies, SELEX Elsag and SELEX Sistemi Integrati, to become Selex ES. In May 2008 Finmeccanica announced its intention to purchase the U.S. defense contractor DRS Technologies for nearly $5.2 billion. In October 2008 the sale of DRS Technologies was finalized. [11]
During 2011–2013, Finmeccanica emails were published by WikiLeaks and Finmeccanica was subject to judicial inquiries on several fronts and management changes.
According to Finmeccanica emails published in the Syria Files release by WikiLeaks on 5 July 2012, [12] Finmeccanica increased its sale of mobile communications equipment to Syrian authorities during 2011, delivering 500 of these to the Damascus suburb Muadamia in May 2011, [13] [14] after the Syrian uprising had started, and sending engineers to Damascus in February 2012 to provide training in using the communications equipment in helicopter terminals, [15] while the uprising continued. [16] Finmeccanica stated that the equipment sales were legal, they occurred "before the outbreak of conflict inside Syria", and the equipment "was designed for use by emergency responders" for civilian use only. [16]
On 12 February 2013, the chief executive, Giuseppe Orsi, was arrested on corruption charges. Prosecutors alleged that he paid bribes to ensure the sale of 12 helicopters to the Indian government, when he was head of the group's AgustaWestland unit. [17] [18]
In July 2013, the Letta government appointed former police chief Giovanni De Gennaro as Chairman of Finmeccanica. In December 2013 Finmeccanica sold 39.55% of its share capital in Ansaldo Energia to Fondo Strategico Italiano.
In the first half of 2014, Finmeccanica's new Chief Executive Officer and General Manager Mauro Moretti started a significant process of change for the Group, both in terms of strategic choices and organizational structure. The goal was to create a more cohesive and efficient group in which all processes (research, marketing and sales, engineering, procurement, strategies and governance) are centralized and integrated and can interact each other. [19] This encompasses the 100% owned companies of the core aerospace and defence business (AgustaWestland, Alenia Aermacchi, Oto Melara, Selex ES and WASS) being transformed into seven new Finmeccanica divisions. The current holding company will then become an operating company based on seven major business areas, maintaining its parent company and corporate centre function for the Group companies excluded from the model (DRS Technologies, Telespazio, Thales Alenia Space, MBDA and ATR).
At the end of 2014, Finmeccanica transferred its stake in BredaMenarinibus to the newco Industria Italiana Autobus (20% Finmeccanica and 80% King Long), thereby taking a further step in the Group's portfolio rationalization process.
In 2015, Hitachi signed a binding agreement with Finmeccanica for Hitachi's acquisition of the AnsaldoBreda business, excluding some revamping activities and residual contracts, and of the entire Finmeccanica stake in the share capital of Ansaldo STS, approximately 40% of the total capital.
FATA, another subsidiary of the Finmeccanica Group since 2004 that was not part of the core business, was sold in 2015 to the Gruppo Danieli, dealing in the production of steel plants.
On 1 January 2016, Finmeccanica became a single integrated industrial entity, that absorbed the activities of AgustaWestland, Alenia Aermacchi, Selex ES, OTO Melara and WASS.
A company rebranding operation led by Mauro Moretti began in March 2016, with a proposal to change the company name. From 1 January 2017 Finmeccanica officially became Leonardo, a name inspired by the Italian savant Leonardo da Vinci. [7] [20] [21] In March 2017 the Italian Treasury proposed that the veteran banker Alessandro Profumo replace Mauro Moretti as CEO of Leonardo. [22] In May 2017 the Board appointed Alessandro Profumo to the role. [23]
On 10 May 2023 the Board of Directors appointed Mr. Roberto Cingolani to the position of Chief Executive Officer and General Manager, Mr. Stefano Pontecorvo to the role of Chairman, Mr. Lorenzo Mariani to the role of Co-General Manager. [24]
Leonardo is present worldwide in about 20 countries (42% in Italy and 58% abroad). Commercially, there are about 150 countries in the world that use products, systems and services supplied by Leonardo.
Its production activities and its main industrial and commercial bases are located in Italy, the United Kingdom, Poland and the United States. Moreover, Leonardo has gained a significant presence in France and Germany, and is a partner for various international industrial collaborations. [26] [27] The company is an ITER supplier.
In December 2021, Leonardo Electronics announced it would be building a semiconductor device fabrication facility in Oro Valley, Arizona with construction beginning in the first half of 2022. [28]
As of March 2023, Leonardo's largest shareholder was the Italian Ministry of Economy and Finances with 30.20%. [29]
In million of € | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2013* | 2014 | 2014** | 2015 | 2016 [30] | 2017 [31] | 2018 [32] | 2019 | 2020 [33] | 2021 [34] [35] | 2022 [36] | |
New Orders | 17,916 | 17,575 | 21,099 | 22,453 | 17,434 | 15,869 | 17,571 | 15,059 | 15,619 | 12,667 | 12,371 | 19,951 | 11,595 | 15,124 | 14,105 | 13,754 | 14,307 | 17,266 |
Order backlog | 39,304 | 42,937 | 45,143 | 48,668 | 46,005 | 44,908 | 42,697 | 36,831 | 38,234 | 29,383 | 28,793 | 34,798 | 33,578 | 36,118 | 36,513 | 35,516 | 35,534 | 37,506 |
Revenues | 13,429 | 16,504 | 18,176 | 18,695 | 17,318 | 16,504 | 16,033 | 13,690 | 14,663 | 12,764 | 12,995 | 12,002 | 11,527 | 12,240 | 13,784 | 13,410 | 14,135 | 14,713 |
Ebita | 7.8% | 8.7% | 8.7% | 8.5% | -216 | 1,006 | 949 | 878 | 1,080 | 980 | 1,208 | 1,252 | 1,066 | 1,120 | 1,251 | 938 | 1,123 | 1,218 |
Net result before extraordinary transactions | nd | nd | nd | nd | nd | nd | 74 | (649) | 70 | 15 | 253 | 545 | 274 | 421 | 722 | 241 | 587 | 697 |
Net Result | 521 | 621 | 718 | 557 | -2.306 | -792 | 74 | 74 | 20 | 20 | 527 | 507 | 274 | 510 | 822 | 243 | 587 | 932 |
Group Net Debt | 1,158 | 3,383 | 3,070 | 3,133 | 3,443 | 3,382 | 3,316 | 3,902 | 3,962 | 3,962 | 3,278 | 2,845 | 2,579 | 2,351 | 2,847 | 3,318 | 3,122 | 3,016 |
FOCF | 375 | 469 | 563 | 443 | -358 | 91 | (307) | (220) | (137) | 65 | 307 | 706 | 537 | 336 | 241 | 40 | 209 | 539 |
Employees | 60,748 | 73,398 | 73,056 | 75,197 | 70,474 | 67,408 | 63,835 | 56,282 | 54,380 | 54,380 | 47,156 | 45,631 | 45,134 | 46,462 | 49,530 | 49,882 | 50,413 | 51,392 |
Westland Helicopters was a British aircraft manufacturer. Originally Westland Aircraft, the company focused on helicopters after the Second World War. It was amalgamated with several other British firms in 1960 and 1961.
MBDA is a European multinational corporation specialized in the design, development and manufacturing of missiles and related systems. Headquartered in Le Plessis-Robinson, France, the company was founded in December 2001 via the merger of three of the most prominent European missile systems companies: the French Aérospatiale Matra Missiles, the Anglo-French Matra BAe Dynamics and the missile division of the Anglo-Italian Alenia Marconi Systems. These businesses were subsidiaries of EADS, BAE Systems and Finmeccanica, and all three remain MBDA's parent companies.
Agusta was an Italian helicopter manufacturer. It was based in Samarate, Northern Italy. The company was founded by Count Giovanni Agusta in 1923, who flew his first airplane in 1907. The MV Agusta motorcycle manufacturer began as an offshoot of the Agusta aviation company at the end of the Second World War, as a means to save the jobs of employees of the Agusta firm.
AgustaWestland was an Anglo-Italian helicopter design and manufacturing company, which was a wholly owned subsidiary of Finmeccanica. It was formed in July 2000 as an Anglo-Italian multinational company, when Finmeccanica and GKN merged their respective helicopter subsidiaries to form AgustaWestland, with each holding a 50% share. Finmeccanica acquired GKN's stake in AgustaWestland in 2004.
The Agusta A129 Mangusta is an attack helicopter originally designed and produced by Italian company Agusta. It is the first attack helicopter to be designed and produced wholly in Europe. It has continued to be developed by AgustaWestland, the successor company to Agusta. It has been exclusively operated by the Italian Army, which introduced the type to service during 1990.
Alenia Aeronautica was an Italian aerospace company. Its subsidiaries included Alenia Aermacchi and Alenia Aeronavali.
Alenia Marconi Systems (AMS) was a major European integrated defence electronics company and an equal shares joint venture between BAE Systems and Finmeccanica until its dissolution on 3 May 2005.
Selex ES was a subsidiary of Finmeccanica, active in the electronics and information technology business, based in Italy and the UK, and formed in January 2013, following Finmeccanica's decision to combine its existing SELEX Elsag and SELEX Sistemi Integrati businesses into SELEX Galileo, the immediate predecessor of Selex ES. From 1 January 2016, the activities of Selex ES merged into Leonardo-Finmeccanica's Electronics, Defence and Security Systems Sector becoming Leonardo S.p.A.
SELEX Sistemi Integrati S.p.A. was an aerospace, defence and security-related electronics manufacturing company headquartered in Rome, Italy, and a wholly owned subsidiary of Finmeccanica. It designed and developed systems for homeland security; systems and radar sensors for air defence, battlefield management, naval warfare, coastal and maritime surveillance; air traffic control; and turn-key airport solutions. The company had around 4,500 employees. On 1 January 2013, it merged with its sister companies SELEX Galileo and SELEX Elsag to form Selex ES.
Telespazio Spa is a European spaceflight services company founded in 1961. It is a joint venture owned by Leonardo (67%) and Thales Group (33%) headquartered in Rome.
The AgustaWestland AW119 Koala, produced by Leonardo since 2016, is an eight-seat utility helicopter powered by a single turboshaft engine produced for the civil market. Introduced as the Agusta A119 Koala prior to the Agusta-Westland merger, it is targeted at operators favoring lower running costs of a single-engine aircraft over the redundancy of a twin.
Thales Alenia Space is a joint venture between the French technology corporation Thales Group (67%) and Italian defense conglomerate Leonardo (33%). The company is headquartered in Cannes, France.
The aerospace industry of the United Kingdom is the second-largest national aerospace industry in the world and the largest in Europe by turnover, with a global market share of 17% in 2019. In 2020, the industry employed 116,000 people.
The AgustaWestland AW159 Wildcat is a military helicopter, developed by the British-Italian helicopter manufacturer AgustaWestland, and later marketed by the Italian aerospace company Leonardo. It is an improved version of the Westland Super Lynx designed to serve in the battlefield utility, search and rescue, aerial reconnaissance, anti-submarine warfare (ASW), anti-surface warfare (ASuW), utility, command and control, and troop transport duties.
Telespazio UK Ltd. is a British space company based in Luton, Bedfordshire. Founded in 1978 by a small group of engineers at the European Space Operations Centre (ESOC) in Darmstadt, Germany, VEGA presently works with various space agencies, satellite operators and manufacturers around the world. It works with the European Space Agency (ESA) and ESOC in Germany, European Space Research and Technology Centre (ESTEC) in Noordwijk, the Netherlands, ESA Centre for Earth Observation (ESRIN) in Rome, Italy, and European Space Astronomy Centre (ESAC) in Madrid, Spain.
The AgustaWestland AW189 is a twin-engined, super-medium-lift helicopter manufactured by Leonardo S.p.A. It is derived from the AW149, and shares similarities with the AW139 and AW169.
The AgustaWestland AW169 is a twin-engine, 10-seat, 4.8t helicopter developed and manufactured by the helicopter division of Leonardo. It was designed to share similarities with the larger AgustaWestland AW139 and AgustaWestland AW189.
Pier Francesco Guarguaglini is an Italian engineer, university educator and businessman. He is best known for his nine-year term (2002–2011) as chairman of Finmeccanica, a partly state-owned Italian aerospace and defence conglomerate.
Alenia Aermacchi was a company active in the aeronautics sector, with offices and plants in Venegono Superiore, Varese, Turin Airport in San Maurizio Canavese, Province of Turin and Pomigliano d'Arco, Province of Naples. From 1 January 2016, the activities of Alenia Aermacchi merged into Leonardo's Aircraft and Aerostructures Division.
Göktürk-1 is a high resolution Earth observation satellite designed and developed for the Turkish Ministry of National Defence by the Italian space service company Telespazio with technological input from Turkish Aerospace Industries (TUSAŞ) and ASELSAN of Turkey.
the new MBDA, the world's second largest missile manufacturer behind Raytheon