Leonardo S p A : Risultati 2021 Leonardo 2021 - Accelerating technology evolution (Presentazione)

FY 2021 Results Presentation

Rome

11 March 2022

Agenda

•	Key messages	Alessandro Profumo, Chief Executive Officer
•	Industrial review	Lucio Valerio Cioffi, General Manager
•	Financial review	Alessandra Genco, Chief Financial Officer

• Q&A
• Sector results
• Appendix

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© 2022 Leonardo - Società per azioni

FY 2021 Results

We provide essential Security and Protection, security

for people and nations.…

This means preserving peace and stability, safety and democracy, without which social and economic

prosperity does not exist …

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© 2022 Leonardo - Società per azioni

FY 2021 Results

FY2021: an important year of delivery

CLOSER

COLLABORATION IN

EUROPE

BACK TO GROWTH

CLEAR RECOVERY PATH IN AEROSTRUCTURES

PROGRESS ON SUSTAINABILITY AND ESG

• Well positioned in key markets committed to grow defence spending
• 25,1% Hensoldt acquisition enhancing cooperation in EU Defence Electronics Industry
• EuroMale promoting EU collaboration in Security and Defence
• Playing a key role in Next Generation Civil Tiltrotor
• Continued momentum in international cooperation programmes (EFA, Tempest)
• Solid backlog; Orders and Revenues above pre-pandemic (+1.5% and +3.5% vs 2019)
• All key businesses above pre-pandemiclevels on all metrics, excluding Aerostructures
• Improved profitability (+0.9 p.p. vs 2020) and ROIC (+1.1 p.p. vs 2020)
• Met or exceeded guidance once again, with FOCF doubling expectations
• Solid financial structure
• Actions in place and progress in ATR and other programmes
• 2021 as a bottom year and gradual improvement from 2022
• 23% CO2 emissions reduction *
• 19% hiring of women with STEM degree
• >40% hiring of young people (<30 years old)
• 50% of investments SDG-aligned
• 50% of financial sources ESG linked, KPI fully aligned with strategy and LTIP

* Scope I and II CO2 total emissions, market-based	4

© 2022 Leonardo - Società per azioni

We have delivered results in line or exceeding expectations

All businesses ahead of 2019 levels, excluding Aerostructures

(€ mil)

Orders and Backlog

36,118 36,513 35,516 35,534

15,124	14,105		14,307
	13,754
2018	2019	2020	2021
	Orders	Backlog

	Revenues
	13,784	13,410	14,135
12,240
2018	2019	2020	2021

	EBITA
			1,326
	1,262
1,157
	1,251	1,024
1,120			1,123
		938
2018	2019	2020	2021
EBITA		EBITA excl. Aerostructures

		FOCF
619
			548
	398	369
336
	241		209
		40
2018	2019	2020	2021
	FOCF	FOCF excl. Aerostructures

•	Solid and well-diversified	•	Strong top line growth, above
	backlog		pre-pandemic levels
•	Continued strong commercial	•	88% revenues in defence and
	momentum		governmental businesses

• Book-to-billca. 1

2021

•	Higher volumes and better	•	FOCF materially up, doubling
	profitability		guidance
•	EBITA above 2019 level,	•	Aerostructures cash drain ca.
	excluding Aerostructures		€330m, lower than expected

• ROS at 7.9% (9.4% without pass-through)

• ROIC 12.4% vs 11.3% in 2020

• Proposed(1) dividend reinstatement at € 0.14 per share, reflecting stronger performance and our confidence looking forward

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© 2022 Leonardo - Società per azioni	(1) Proposal to be submitted to next 2022 AGM	FY 2021 Results