Italy's Leonardo improves 2025 guidance on orders, cash, net debt

ROME (Reuters) -Italy's aerospace and defence group Leonardo on Wednesday improved its 2025 guidance for orders, free cash flow and net debt, after posting "solid" results for the first six months of the year.

"First-half 2025 results confirm the Group's solid industrial momentum, with a further reduction in debt, validating the effectiveness of the actions undertaken," Chief Executive Roberto Cingolani said in a statement.

The state-controlled company said new orders at the end of the year would be between 22.25 billion euros and 22.75 billion euros ($25.53-26.11 billion), up from the previously estimated 21 billion euros.

Free cash flow will be between 920 million euro and 980 million euros by end-December, instead of an initially forecast 870 million euros, thanks to good operating performance and cash advances related to new orders, the company added.

The group's net debt is now expected at around 1.1 billion euros, down from a previous 1.6 billion euros, "thanks to the stronger cash generation and the postponement to 2026 of some M&A transactions," Leonardo said.

Full-year revenue and core profit guidance was confirmed.

($1 = 0.8714 euros)

(Reporting by Giulia Segreti, editing by Alvise Armellini)

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