Leonardo

Leonardo confirms non-binding talks with Rheinmetall about the possible sale of part of the acquired Iveco Defence Vehicles; a gentlemen’s agreement exists, but nothing is legally binding. CFO Giuseppe Aurilio called a sale one of several options, noting IDV’s truck business is growing and profitable. CEO Lorenzo Mariani said there have been inquiries from other interested parties and announced progress on antitrust preparations for the Bromo joint venture as well as on the restructuring of the aerostructures business. » More on de.investing.com

For H1 2026 Leonardo reported order intake of €16bn (+45%), revenue of €10bn (+12%) and an EBITA of €780m (+34%), with earnings per share beating expectations by around 9.6%. Management raised targets for order intake, EBITA and profitability metrics for the full year, after which the stock in Frankfurt rose by about 2.3%. Analyst consensus comprises a buy recommendation from 12 observers and a 12‑month price target of roughly €68.33; the share is trading at €55.17, below the 52‑week high of €66.12. » More on de.investing.com

Italy says more countries could join the Global Combat Air Programme, with Canada noted as an observer and Germany or Saudi Arabia mentioned as potential partners. Leonardo, BAE Systems and JAIEC aim to deliver the next-generation fighter by 2035 and Italy argues expanding membership would spread costs and boost feasibility. Leonardo's CEO has indicated Germany would add valuable industrial expertise to the project. » More on yahoo.com

Roberto Cingolani is leaving the leadership of Leonardo after three years; the government appointed Lorenzo Mariani as the new chairman. Cingolani says he was denied a contract extension because he "showed too much European spirit," for example with the Michelangelo-Dome project to link European defence systems, which apparently met resistance in some US circles. In the first quarter the order backlog rose 23% to €57 billion, revenue increased 7% to €4.4 billion and net profit grew 60% to €184 million. Under Cingolani the market value rose to €34 billion, liquid funds exceeded €1 billion for the first time and the workforce grew to around 65,000 employees. » More on faz.net

Italian Prime Minister Giorgia Meloni has unexpectedly removed Roberto Cingolani as CEO of Leonardo, despite his efforts in recent years to orient the group more toward Europe and to advance projects and collaborations with Airbus, Thales, Rheinmetall as well as the Michelangelo defence initiative and work on GCAP. Observers view the move as politically motivated, possibly linked to Meloni’s closeness to the US and its defence interests. The share price fell by almost 9 percent after the decision, and analysts warn of the consequences of political interference for the competitiveness and stability of the strategically important defence industry in Italy and Europe. » More on faz.net