Leonardo reports €39bn order backlog

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