Leonardo sees earnings up 5-6% 2018-2022 (2)

Shares tumble on business plan

(ANSA) - Rome, January 30 - Aerospace giant Leonardo said Tuesday it saw average yearly earnings rising 5-6% over the five-year (RPT five-year) period from 2018 to 2022.
    It said orders would rise above an average yearly 6%.
    CEO Alessandro Profumo said the group was aiming for "sustainable development" and had framed a "new commercial strategy for growth".
    Leonardo confirmed its 2017 guidance after a warning in November.
    It said earnings, EBITDA and free operating cash flow would be in the bottom range of the guidance as revised in November. The company's stock fell 7% in Milan on 2017 profit estimates and the new business plan, before being suspended for excessive losses.
    Leonardo was formerly known as Finmeccanica.
    photo: Profumo

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