Leonardo

by numbers
Leonardo is a global high-tech company and one WORKFORCE
of the world’s top ten players in Aerospace, Defence
and Security. Headquartered in Italy, the Company has
four domestic markets (Italy, the United Kingdom, the Italy UK USA Poland
United States, Poland), as well as a significant industrial 31,186 7,305 6,996 2,814
and commercial presence in over 20 countries worldwide.
Products, systems and services provided by Leonardo
are currently in use in about 150 countries in the world.
Leonardo’s structure is organised into five Divisions:
Helicopters, Aircraft, Aerostructures, Electronics
and Cyber Security. The Company also operates through
subsidiaries and joint ventures: Leonardo DRS (defence
electronics–LDO 100%), Vitrociset (ICT, system design,
simulation - LDO 100%), ATR (turboprop regional aircraft
–LDO 50%), MBDA (missiles and missile systems–
LDO 25%), Telespazio (satellite services– LDO 67%),
Thales Alenia Space (manufacture of satellites and
orbiting infrastructure–LDO 33%), Elettronica (defence
electronics - LDO 31.33%), Avio (space propulsion - LDO
26%). Leonardo invests about 11% of its revenues in
Research & Development (€ 1.5 billion in 2019).
In the Aerospace, Defence & Security sector, Leonardo Rest of the world
ranks 2nd in Europe and 4th in the world for investments 1,229
in R&D.

CORPORATE GOVERNANCE
BOARD OF DIRECTORS 2017-2019 BOARD OF STATUTORY AUDITORS 2018-2020

CHAIRMAN CHIEF EXECUTIVE OFFICER CHAIRMAN REGULATORY STATUTORY

AUDITOR
Giovanni De Gennaro Alessandro Profumo Luca Rossi
Sara Fornasiero
DIRECTORS Francesco Perrini
Leonardo Quagliata
Marta Dassù Antonino Turicchi ALTERNATE STATUTORY
AUDITOR Daniela Savi
Marina Elvira Calderone Paolo Cantarella *
Luca Bader Dario Frigerio Giuseppe Cerati
Guido Alpa Silvia Merlo Marina Monassi
Fabrizio Landi Marina Rubini
INDEPENDENT AUDITING FIRM
KPMG SpA (2012-2020)
COMMITTEES

1 2 3 4
Control and Risks Remuneration Nomination, Analysis of
Governance International
and Sustainability Scenarios

Marta Dassù M C
Marina Elvira Calderone M M
Luca Bader M M
Guido Alpa M C
Fabrizio Landi M M
Antonino Turicchi M M
Paolo Cantarella C M
Dario Frigerio C M
Silvia Merlo M M
Marina Rubini M M

C = Chairman * Lead Independent Director

M = Member
2019 FY RESULTS

GROUP FY 2019 FY 2018 Chg. Chg. %

(Euro million)

New orders 14,105 15,124 (1,019) (6.7%)

Order backlog 36,513 36,118 395 1.1%
Revenues 13,784 12,240 1,544 12.6%
EBITDA (*) 1,817 1,534 283 18.4%
EBITA (**) 1,251 1,120 131 11.7%
ROS 9.1% 9.2% (0.1) p.p.
EBIT (***) 1,153 715 438 61.3%
EBIT Margin 8.4% 5.8% 2.6 p.p.
Net result before extraordinary transactions 722 421 301 71.5%
Net result 822 510 312 61.2%
Group Net Debt 2,847 2,351 496 21.1%
FOCF 241 336 (95) (28.3%)
ROI 16.7% 16.4% 0.3 p.p.
ROE 14.7% 9.7% 5.0 p.p.
Workforce (no.) 49,530 46,462 3,068 6.6%

(*) EBITDA this is EBITA before amortisation, depreciation and adjustments impairment (net of those relating to goodwill or classified among “non-recurring costs”).

(**) EBITA is obtained by eliminating from EBIT the following items: any impairment in goodwill; amortisation and impairment, if any, of the portion of the purchase price allocated to
intangible assets as part of business combinations; restructuring costs that are a part of defined and significant plans; other exceptional costs or income, i.e. connected to particularly
significant events that are not related to the ordinary performance of the business.

(***) EBIT is obtained by adding to earnings before financial income and expense and taxes the Group’s share of profit in the results of its strategic Joint Ventures (GIE-ATR, MBDA, Thales
Alenia Space and Telespazio).

GUIDANCE 2020 (*) CREDIT RATING

FY 2019 2020 Outlook (**) AGENCY CREDIT RATING OUTLOOK
New Orders (€bn.) 14.1 ca. 14
Revenues (€bn.) 13.8 14 – 14.5 Moody’s Ba1 Stable
EBITA (€mln.) 1,251 1,325 – 1,375 Standard & Poor’s BB+ Positive
FOCF (€mln.) 241 400 - 450 Fitch BBB- Stable
Group Net Debt (€bn.) 2.8 ca. 2.8 (***)

(*) These estimates do not include the potential impacts of COVID-19.

(**) Assuming a € / USD exchange rate of 1.15 and € / GBP of 0.88.
(***) Includes an additional IFRS 16 effect (approximately €0.1bn), the acquisition
of Kopter (approximately €0.2bn) and dividend payment.

SHAREHOLDERS base at February 2020

TOTAL SHAREHOLDER COMPOSITION GEOGRAPHICAL DISTRIBUTION OF INSTITUTIONAL SHAREHOLDERS

FLOATING RATE

1.2% 0.6% 7.1% 44.2%

50.8% Institutional investors 44.2% North America
8.6%
17.2% 30.2% Italian Ministry of 24.4% United Kingdom
Economy and Finance
5.3% 10.4% France
17.2% Retail investors
5.3% Italy
0.6% Treasury shares 10.4%
Updated as of 03/2020

8.6% Rest of Europe

30.2% 1.2% Unidentified 24.4%

50.8% 7.1% Rest of the world

Pursuant to the internationalisation strategy followed by Leonardo, the shareholder base went from being mainly domestic to being mainly international: currently, approx 90%
of the institutional float is held by foreign funds.

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