Leonardo's Board of Directors, convened yesterday under the Chairmanship of Francesco Macrì, examined and unanimously approved the results for the first half 2026. 

The highlights: 

Order Backlog rises to c. €59 bln (+30% YoY), also as a result of the consolidation of the IDV business 

Growth in new Orders confirms the Group’s consolidated positioning in the markets in which it operates with a book-to-bill ratio 1.6x 

Revenues and EBITA growth across all business sectors 

Net Result Adjusted € 476 mil (+74% YoY) 

Free Operating Cash Flow (FOCF) shows steady improvement, demonstrating the effectiveness of the actions undertaken 

Group Net Debt at € 3.2 bln (+49% YoY), affected by the acquisition of the IDV business.

"Leonardo’s first-half 2026 results", said Lorenzo Mariani, Chief Executive Officer and General Manager of Leonardo, “confirm that we are delivering across all the key pillars of our Industrial Plan. Growth in our order backlog, revenues and operating profitability, together with stronger cash generation, demonstrates the Group’s ability to execute programmes, increase production capacity and respond effectively to an evolving market environment. On the strength of these results, we have upgraded our 2026 Guidance, setting new targets for Orders, FOCF and EBITA, with a ROS at 10.0%". 

“Our focus now", Mariani added, “is to build on this momentum and ensure consistent execution of the Industrial Plan by further strengthening our industrial capabilities, enhancing the resilience of our supply chain, investing in the critical technologies required to address rapidly evolving market needs, including through further M&A operations, and expanding the strategic partnerships that support the Group’s longterm growth". 

H1 2026 Results   

The first half of 2026 showed further significant growth of the Group, confirming the effectiveness of the commercial initiatives implemented and underscoring a marked improvement in economic and financial results compared with the same period of 2025. 

The integral version of the report (18 pages, with tables) is attached to this AVIONEWS.