May 7, 2020 / 5:23 PM / a month ago

BRIEF-Leonardo exec says Q2 will be the worst-hit by COVID-19

May 7 (Reuters) - Highlights from Leonardo’s Q1 results and analyst conference call:

* DID NOT DELIVER ANY ATR AIRCRAFT IN Q1, HELICOPTER DELIVERY DOWN TO 11 VERSUS 19 Q1 LAST YEAR - SLIDE

* SEES LABOUR COSTS SAVING OF AROUND 10% - SLIDE

* EXPECTS 20-25% SAVINGS FROM PRIORITISING PLANNED INVESTMENTS - SLIDE

* CEO SAYS CORONAVIRUS IMPACT COULD BE HIGHER IN Q2

* CEO SAYS GROUP HOPE TO “RE-ACCELERATE” ACTIVITY IN H2

* CEO SAYS EXPECTS TO CUT “CONTROLLABLE COSTS” BY 10-15%

* EXEC SAYS VERY GOOD ORDER INTAKE IN Q1 CANNOT BE USED FOR PREDICTIONS ON FY PERFORMANCE

* EXEC SAYS Q1 REVENUE FELL 13.4% IN HELICOPTER SEGMENT DUE TO COVID19 IMPACT ON CIVIL DELIVERIES

* EXEC SAYS Q2 WILL BE THE WORST-HIT FROM VIRUS CRISIS

* EXEC SAYS COMPANY’S LONG TERM FUNDAMENTALS REMAIN INTACT

* CEO SAYS WILL UPDATE ON 2020 GUIDANCE WHEN CO RELEASES Q2 RESULTS Further company coverage: (Reporting by Rome newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below