Leonardo runs with war developments and EU champion project on space
Quotes are buoyed by developments in the war in Ukraine, with Russian drones shot down in Polish (and therefore NATO) airspace, as well as talks with Airbus Group and Thales
by Paolo Paronetto
Aggiungi Il Sole 24 Oreai preferiti su Google
1' min read
Le ultime da Radiocor
Cedacri: in I semestre ebitda sale a 124 mln, migliora leva finanziaria
Borsa: Trump gela i mercati, Milano (-1,2%) limita i danni con rimbalzo oil
*** BTp: spread chiude in rialzo a 81 punti, rendimento decennale balza al 3,90%
1' min read
(Il Sole 24 Ore Radiocor) - Buyers on Leonardo - Finmeccanica at Piazza Affari, where the defence group's shares are putting in one of the best performances in the FTSE MIB . Quotations are buoyed by developments in the war in Ukraine, with Russian drones shot down in Polish (and thus Nato) airspace, as well as by talks with Airbus Group and Thales on the creation of a European champion of space and satellite activities. According to rumours, due diligence and notification to stakeholders and antitrust authorities are underway.
An announcement could come as early as the end of the month. "The creation of a European champion for satellite/space activities would represent an important valuation catalyst for Leonardo as the Space division currently has a non-significant contribution on the numbers and its value is not captured by consensus valuations," Intermonte analysts comment. "Our sum valuation of the back-up parts assumes a value of Leonardo's space business of 2.6 billion," they add, pointing out that "the creation of a European satellite/space company (in which Leonardo would have a stake, we assume a third) would have a higher value contribution."
