Leonardo is the holding company for The Finmeccanica Group, and is responsible for guiding and controlling industrial and strategic operations, coordinates its subsidiaries. The Finmeccanica Group operates in the Aerospace and Defence sector, which includes the Helicopters, Defence and Security Electronics, Aeronautics, Space and Defence Systems segments; and in the Transportation sector, which also includes Fata S.p.a., in addition to the companies operating in the transportation sector.
  • TickerLDO
  • ISINIT0003856405
  • SectorAerospace & Defense
  • CountryItaly

Analysts

Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hana Maalej
  • Jerôme Bodin
  • Khaled Ben Amor
  • Martial Descoutures
  • Matthias Desmarais
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/08/2019

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2019

...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - Crédit Agricole, Teva - FR

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - Crédit Agricole, Teva - FR

Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hana Maalej
  • Jerôme Bodin
  • Khaled Ben Amor
  • Martial Descoutures
  • Matthias Desmarais
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 08/11/2019

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2019

...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - Crédit Agricole, Teva - FR

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - Crédit Agricole, Teva - FR

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/10/2019 - Portugal - FR

Portugal : Vers un nouveau rehaussement des ratings  HSBC (Achat) : Pourrait annoncer un plan de restructuration Lagardère (Achat) : Prévoit d’émettre une nouvelle obligation de maturité 5A-6A EDF (Vente) : La réorganisation du groupe va prendre plus de temps que prévue WFS - S1-19 : EBITDA de €55m (-8%) Ineos (Achat) - S1-19 : EBITDA de €1md (+27,3%) Pro.Gest (Vente): S&P dégrade sa note de deux crans à B*-

Antoine Boivin-Champeaux ...
  • Yan Derocles

Leonardo - Finmeccanica : Q3 results ahead of expectations – Optimisation of debt

>Q3 2019 EBITA 10.6% ahead of forecasts - Whilst Q3 is traditionally a weaker contributor to full-year EBITA (c17% on average), the Q3 2019 performance is nonetheless significant with EBITA of € 199m (+23%), i.e.10.6% higher than the consensus estimate compiled by the company (ODDO BHF’s estimate: € 170m, consensus: € 180m). Net profit also largely exceeded expectations at € 115m but integrates an unusually low tax rate and financial charges that were lower than what...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Leonardo - Finmeccanica : T3 supérieur aux attentes – Optimisation de l’endettement

>EBITA T3 2019 10.6% au-delà des attentes - Si le troisième trimestre est traditionnellement le plus faible contributeur à l’EBITA annuel (c17% en moyenne), la performance sur le T3 2019 n’en est pas moins notable avec un EBITA s’élevant à 199 M€ (+23%), soit 10.6% au-delà des attentes du consensus compilé par la société (ODDO BHF : 170 M€, Cons : 180 M€). Le résultat net ressort également largement au-delà des anticipations à 115 M€ mais intègre un taux d’imposition ...

Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean-François Granjon
  • Jeremy Garnier
  • Khaled Ben Amor
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 09/20/2019

...

Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean-François Granjon
  • Jeremy Garnier
  • Khaled Ben Amor
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 20/09/2019

...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Leonardo - Finmeccanica : Central costs should not obscure the improvement in underlying operations

>Central costs spiral... - We have lowered our EPS sequence for 2019-2020-2021-2022 by -1.5%, -0.8%, -0.1% and 0%, respectively, mainly to factor in higher-than-expected central costs. While part of these costs was already allocated to the different divisions the company has clearly chosen to accelerate its level of investment to support its sales growth ambitions outside its domestic markets with an effort to expand its network internationally (hiring abroad, support...

A director bought 100,000 shares at 9.733EUR and

A director at Leonardo Spa bought 100,000 shares at 9.733EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boar...

Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hana Maalej
  • Jerôme Bodin
  • Khaled Ben Amor
  • Martial Descoutures
  • Matthias Desmarais
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/08/2019

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2019

...

Anis Zgaya ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hana Maalej
  • Jerôme Bodin
  • Khaled Ben Amor
  • Martial Descoutures
  • Matthias Desmarais
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 08/11/2019

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2019

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 07/31/2019

...

With a more favourable environment, LEONARDO SPA improves to Slightly Positive

LEONARDO SPA (IT), a company active in the Aerospace industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 11.49 and its potential was estimated at EUR 12.43.

Expert Corporate Governance Service (ECGS)

Leonardo - AGM and EGM 09 May 2019

In item 3, shareholders are called to an advisory vote on the remuneration policy. The overall remuneration amounts are reasonable (aggregate variable remuneration is capped at 128% of the CEO's base salary), and severance payments are in line with our guidelines (capped at 2 years of remuneration in the event of early termination of office, and no severance to be paid to the CEO at the end of his mandate). We regret that the variable remuneration depends more on annual than long-term results (the annual bonus would represent approximately 52% of the variable remuneration at maximum levels of ...

Leonardo – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Louis AZAIS

Short term view - LEONARDO : Falling.

The trend is bullish. The current fall looks like a consolidation. The support at €9.000 could cause a bullish reaction towards €11.253. The break of €8.266 would endanger the trend.

Louis AZAIS

Analyse court terme - LEONARDO : Baisse en cours.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 9,000 € pourrait relancer le mouvement haussier vers 11,253 €. La rupture de 8,266 € mettrait la tendance en danger.

Louis AZAIS

Medium term view - LEONARDO : The bounce is gaining strength.

The background trend is clearly bearish. The bounce is gaining strength. It is too early to qualify this market action as a bullish reversal. The background trend would be questioned should prices rise above €11.300.

Louis AZAIS

Analyse moyen terme - LEONARDO : Le rebond gagne en vigueur.

La tendance de fond est clairement orientée à la baisse. Le rebond gagne en vigueur. Il est trop tôt pour parler de retournement haussier. La tendance de fond serait remise en cause en cas de franchissement de 11,300 €.

Valérie GASTALDY

Analyse moyen terme - LEONARDO : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 8,275 €, puis 5,400 €. Le franchissement de 11,328 € remettrait en cause la suite de la baisse.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch