NH90 Qatar contract now effective

NH90 Qatar contract now effective

22-Aug-2018 Source: Leonardo

Leonardo announces that it has made effective the contract, signed on March 14, 2018, for the supply of 28 NH90 medium twin-engine multirole military helicopters to the Ministry of Defense of Qatar and has therefore booked the order in its backlog and received the advance payment relating to the contract. Leonardo acts as overall prime contractor with responsibility for the management of the entire programme valued at more than €3 billion to the NHI consortium.

Alessandro Profumo, Leonardo CEO, stated: “We are proud to have made this important contract effective. We continue to be fully focused on executing our Industrial Plan aimed at ensuring longterm sustainable growth for the Group, also strengthening our commercial approach”.

The Group Guidance for the full year 2018 is confirmed, as revised upwards on 30th of July in respect of higher order intake and FOCF to reflect the expected effectiveness of the NH90 Qatar contract, that had been only partially factored into Group Guidance, and the potential for certain export campaigns not to be full finalised by year-end.

2018 Guidance

New Orders (€bn.) 14.0 – 14.5

Revenues (€bn) 11.5 – 12.0 EBITA (€mln) 1,075 – 1,125

FOCF (€mln) 300 – 350

Group Net Debt (€bn) ca. 2.4

Exchange rate assumptions €/USD 1,20 and €/GBP 0,90

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