Italian defence major Leonardo’s Industrial Plan 2024-2028 envisages the transformation of the Group’s business model from defence to security with a technological evolution that involves extensive digitalization, domain interoperability and artificial intelligence (AI). With the company intent on playing a proactive role in the evolution of the European defence industry, there will also be a focus on forging international alliances and strategic partnerships.
In addition to the emphasis on digitalisation, Leonardo will also invest in R&D activities in areas such as artificial intelligence (AI), digital continuum, cloud, computing power, broadband resilient communication, and security by design. The intent is to strengthen the core business across defence electronics, helicopters and aircraft, confirming aerostructures recovery, and leveraging opportunities in cyber and space.
The Industrial Plan targets cumulative orders of € 105 billion with CAGR of 4%, cumulative revenues of € 95 billion with CAGR of 6% between 2024-28, as well as profitability of 10% in 2026 and 11.5% in 2028.
“The Industrial Plan has defined a strategy for unlocking the business growth potential of Leonardo delivering stronger top-line growth, double digit profitability by 2026 and doubled FOCF by the end of the Plan. This will be achieved through, a massive digitalization and rationalization of products and services, Group-wide efficiencies and cost reduction initiativest – targeting € 1.8 billion gross savings over the Plan time span – and inorganic growth,” said Roberto Cingolani CEO and GM.
According to the company, progressive and extensive digitalization (use of satellite communications as well as drones) has radically changed schemes and perspectives in international scenarios, introducing a new concept of global security that goes beyond the traditional one of defence. It is a change – not only in the approach – that involves important efforts to adapt technology. The Digital Continuum will enable multi-domain technologies to orchestrate military activities across all operating domains (land, air, maritime and space).
Leonardo’s 2024-2028 Sustainability Plan focusing on strengthening sustainability of the supply chain, with the aim of including ESG criteria in at least 70% of new major purchase tenders by 2028. The Group will increase female presence in leadership positions and focus on reducing market-based Scope 1 and 2 emissions by 50% by 2030, in line with the commitment towards the Science-Based Targets Initiative.
The Sustainability Plan, which is integrated with the Group Industrial and Strategic Plan, consists of 100 projects aiming to achieve Group targets and priorities. Over half of the planned budget is focused on developing sustainable products and solutions, with Space and Cyber businesses contributing significantly.
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