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| Formerly | Finmeccanica (1948–2016) Leonardo-Finmeccanica (2016) |
|---|---|
| Company type | Public |
| Industry | Aerospace · Defence |
| Founded | 1948; 77 years ago (1948) |
| Headquarters | Rome, Italy |
Area served | Worldwide |
Key people |
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| Revenue |  €17.763 billion (2024) |
| €1.271 billion (2024) | |
| €1.159 billion (2024) | |
| Total assets | €33.673 billion (2024) |
| Total equity | €10.2 billion (2024) |
| Owner | Ministero dell’Economia e delle Finanze (30.2%)[1] |
Number of employees | 60,500 (2024) |
| Subsidiaries |
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| Website | www |
| Footnotes / references [2] | |
Leonardo S.p.A., is an Italianmultinational company specialising inaerospace,defence andsecurity. Headquartered inRome, the company has 180 sites worldwide.[3] It is the 12th largestdefence contractor in the world based on 2020 revenues.[4] The company is partially owned by the Italian government, which holds 30.2% of the company's shares and is its largest shareholder.
On 1 January 2016, Leonardo-Finmeccanica became a single industrial company by integrating the activities of its subsidiariesAgustaWestland,Alenia Aermacchi,DRS Technologies,Selex ES,OTO Melara andWASS. The company is organised into five divisions (Helicopters, Aircraft, Aerostructures, Electronics, Cybersecurity). It is also the parent company and corporate centre for the subsidiaries and joint venturesTelespazio,Thales Alenia Space,MBDA andATR. Leonardo is listed on theBorsa Italiana and is a constituent of theFTSE MIB andDow Jones Sustainability Indices.
The company changed its name to Leonardo S.p.A. on 1 January 2017, after the Italian inventorLeonardo da Vinci.[5][6]
Società Finanziaria Meccanica, "Finmeccanica", was established in 1948 as the mechanical engineering subholding of the state-ownedIstituto per la Ricostruzione Industriale (IRI). Finmeccanica has held for years some historic Italian enterprises, asAlfa Romeo (automobiles),Aeritalia (aerospace) andAnsaldo (engineering).[3]
From the 1960s to the 1980s Italy'sdefence andaerospace industry was split into state-holding entities:EFIM [it] owned the helicopters manufacturerAgusta, the defence companyOto Melara and the electronic enterpriseOfficine Galileo.STET (another IRI subsidiary) heldSelenia,Elsag andSGS Thomson, all electronic enterprises with specializations in security and defense. In 1989, an internal IRI reorganization process brought STET electronic enterprises to Finmeccanica, and the Aeritalia-Selenia merger constituted its aerospace subsidiaryAlenia.[4]
In 1992, EFIM was wound up because of its troubled financial situation; and Agusta, Oto Melara, Officine Galileo andBreda passed to Finmeccanica, which became one of the main Italian industrial groups. Finmeccanica, which was previously fully state owned by IRI, became partly privatized in 1993, when it was listed in theMilanBorsa Italiana stock exchange.
In 1992, Finmeccanica'sAgusta became a 32% partner inNHIndustries, the prime contractor for theNH90 helicopter, along withEurocopter (62.5%) andFokker (5.5%).
In July 2000 Finmeccanica and the BritishGKN agreed to merge their respective helicopter subsidiaries (Agusta andGKN-Westland Helicopters) to formAgustaWestland. In December 2001, the missile business ofAlenia Marconi Systems (AMS), a joint Finmeccanica/BAE Systems company, was merged with other European missile manufacturers to formMBDA, which became the world's second largest missile manufacturer.[7] In July 2003 Finmeccanica andBAE Systems announced their intention to set up three joint venture companies, to be collectively known asEurosystems. These companies would have pooled the avionics,C4ISTAR and communications businesses of the two companies.[8]
In March 2007, BAE Systems sold its 25% share to Finmeccanica for €400 million.[9] In January 2013 the company merged with Finmeccanica's other defence electronics companies,SELEX Elsag andSELEX Sistemi Integrati, to becomeSelex ES. In May 2008 Finmeccanica announced its intention to purchase the U.S. defense contractorDRS Technologies for nearly $5.2 billion. In October 2008 the sale of DRS Technologies was finalized.[10]
During 2011–2013, Finmeccanica emails were published byWikiLeaks and Finmeccanica was subject to judicial inquiries on several fronts and management changes.
According to Finmeccanica emails published in theSyria Files release byWikiLeaks on 5 July 2012,[11] Finmeccanica increased its sale of mobile communications equipment to Syrian authorities during 2011, delivering 500 of these to theDamascus suburb Muadamia in May 2011,[12][13] after theSyrian uprising had started, and sending engineers to Damascus in February 2012 to provide training in using the communications equipment in helicopter terminals,[14] while the uprising continued.[15] Finmeccanica stated that the equipment sales were legal, they occurred "before the outbreak of conflict inside Syria", and the equipment "was designed for use by emergency responders" for civilian use only.[15]
On 12 February 2013, the chief executive,Giuseppe Orsi, was arrested on corruption charges. Prosecutors alleged that he paid bribes to ensure the sale of 12 helicopters to the Indian government, when he was head of the group's AgustaWestland unit.[16][17]
In July 2013, the Letta government appointed former police chief Giovanni De Gennaro as Chairman of Finmeccanica. In December 2013 Finmeccanica sold 39.55% of its share capital in Ansaldo Energia to Fondo Strategico Italiano.
In the first half of 2014, Finmeccanica's new chief executive officer and General Manager Mauro Moretti started a significant process of change for the Group, both in terms of strategic choices and organizational structure. The goal was to create a more cohesive and efficient group in which all processes (research, marketing and sales, engineering, procurement, strategies and governance) are centralized and integrated and can interact each other.[18] This encompasses the 100% owned companies of the core aerospace and defence business (AgustaWestland, Alenia Aermacchi, Oto Melara, Selex ES and WASS) being transformed into seven new Finmeccanica divisions. The current holding company will then become an operating company based on seven major business areas, maintaining its parent company and corporate centre function for the Group companies excluded from the model (DRS Technologies, Telespazio, Thales Alenia Space, MBDA and ATR).
At the end of 2014, Finmeccanica transferred its stake in BredaMenarinibus to the newco Industria Italiana Autobus (20% Finmeccanica and 80% King Long), thereby taking a further step in the Group's portfolio rationalization process.
In 2015,Hitachi signed a binding agreement with Finmeccanica for Hitachi's acquisition of theAnsaldoBreda business, excluding some revamping activities and residual contracts, and of the entire Finmeccanica stake in the share capital ofAnsaldo STS, approximately 40% of the total capital.
FATA, another subsidiary of the Finmeccanica Group since 2004 that was not part of the core business, was sold in 2015 to the Gruppo Danieli, dealing in the production of steel plants[citation needed].
On 1 January 2016, Finmeccanica became a single integrated industrial entity, that absorbed the activities of AgustaWestland, Alenia Aermacchi, Selex ES, OTO Melara and WASS.[19]
A company rebranding operation led by Mauro Moretti began in March 2016, with a proposal to change the company name. From 1 January 2017 Finmeccanica officially became Leonardo, a name inspired by the ItaliansavantLeonardo da Vinci.[6][20][21] In March 2017 the Italian Treasury proposed that the veteran bankerAlessandro Profumo replaceMauro Moretti as CEO of Leonardo.[22] In May 2017 the Board appointed Alessandro Profumo to the role.[23]
On 10 May 2023 the Board of Directors appointed Mr. Roberto Cingolani to the position of chief executive officer and General Manager, Mr. Stefano Pontecorvo to the role of chairman, Mr. Lorenzo Mariani to the role of Co-General Manager.[24] Turkish defense firmBaykar and Leonardo have decided to cooperate in the field of unmanned aerial vehicles.[25]
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Leonardo is present worldwide in about 20 countries (42% in Italy and 58% abroad). Commercially, there are about 150 countries in the world that use products, systems and services supplied by Leonardo.
Its production activities and its main industrial and commercial bases are located in Italy, the United Kingdom, Poland and the United States. Leonardo has gained a significant presence in France and Germany, and is a partner for various international industrial collaborations.[29][30]The company is anITER supplier.[citation needed]
In December 2021, Leonardo Electronics announced it would be building asemiconductor device fabrication facility inOro Valley, Arizona with construction beginning in the first half of 2022.[31]
Leonardo's ongoing supply of equipment for Israel's military has attracted controversy.[32][33] In June 2025, Leonardo was identified in a UN expert's report on corporations aiding Israel that "may be embedded in an economy ofgenocide".[34]
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Acquisition of IDV (Iveco Defence Vehicles) in 2025, for a value of €1.7 billion.[39]
The products of IDV include:
As of March 2025, Leonardo's largest shareholder was theItalian Ministry of Economy and Finances with 30.20%.[57]
| In million of € | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2013* | 2014 | 2014** | 2015 | 2016[58] | 2017[59] | 2018[60] | 2019 | 2020[61] | 2021[62][63] | 2022[64] | |
| New Orders | 17,916 | 17,575 | 21,099 | 22,453 | 17,434 | 15,869 | 17,571 | 15,059 | 15,619 | 12,667 | 12,371 | 19,951 | 11,595 | 15,124 | 14,105 | 13,754 | 14,307 | 17,266 |
| Order backlog | 39,304 | 42,937 | 45,143 | 48,668 | 46,005 | 44,908 | 42,697 | 36,831 | 38,234 | 29,383 | 28,793 | 34,798 | 33,578 | 36,118 | 36,513 | 35,516 | 35,534 | 37,506 |
| Revenues | 13,429 | 16,504 | 18,176 | 18,695 | 17,318 | 16,504 | 16,033 | 13,690 | 14,663 | 12,764 | 12,995 | 12,002 | 11,527 | 12,240 | 13,784 | 13,410 | 14,135 | 14,713 |
| Ebita | 7.8% | 8.7% | 8.7% | 8.5% | -216 | 1,006 | 949 | 878 | 1,080 | 980 | 1,208 | 1,252 | 1,066 | 1,120 | 1,251 | 938 | 1,123 | 1,218 |
| Net result before extraordinary transactions | nd | nd | nd | nd | nd | nd | 74 | (649) | 70 | 15 | 253 | 545 | 274 | 421 | 722 | 241 | 587 | 697 |
| Net Result | 521 | 621 | 718 | 557 | -2.306 | -792 | 74 | 74 | 20 | 20 | 527 | 507 | 274 | 510 | 822 | 243 | 587 | 932 |
| Group Net Debt | 1,158 | 3,383 | 3,070 | 3,133 | 3,443 | 3,382 | 3,316 | 3,902 | 3,962 | 3,962 | 3,278 | 2,845 | 2,579 | 2,351 | 2,847 | 3,318 | 3,122 | 3,016 |
| FOCF | 375 | 469 | 563 | 443 | -358 | 91 | (307) | (220) | (137) | 65 | 307 | 706 | 537 | 336 | 241 | 40 | 209 | 539 |
| Employees | 60,748 | 73,398 | 73,056 | 75,197 | 70,474 | 67,408 | 63,835 | 56,282 | 54,380 | 54,380 | 47,156 | 45,631 | 45,134 | 46,462 | 49,530 | 49,882 | 50,413 | 51,392 |
In 2018, the British NGO Corruption Watch published a report entitled Anglo Italian Job, which analysed million-pound contracts, lobbyists and prominent politicians, bribes, consultancy contracts and private intercessions by the former Finmeccanica group.[67][68]
TheGovernment Pension Fund of Norway, which owned 1.3% of listed shares worldwide in 2018, excluded Leonardo from its investment portfolio because it did not meet its ethical standards.[67]
the new MBDA, the world's second largest missile manufacturer behind Raytheon
