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Covid impact forces Leonardo to tear up aerostructures break-even plan

By Dominic Perry2021-03-10T12:39:00+00:00
Cratering civil aerospace demand has forced Leonardo to abandon a target to achieve break-even for its aerostructures operation this year.
Presenting the company’s full-year results for 2020 on 10 March, chief executive Alessandro Profumo said that the coronavirus pandemic had derailed its previous turnaround plan for the division.
Source: Leonardo
Leonardo builds 787 fuselage sections at Grottaglie site
“We need to be realistic and recognise that due to Covid-19 our original restructuring plan working towards break-even even this year is not achievable.”
EBITA losses in the aerostructures operation widened in 2020 to €86 million ($102 million) from €11 million the previous year; return on sales stood at -10.5%, down from -1% in 2019. ....

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