Finmeccanica to rebrand as Leonardo as profits recover
Finmeccanica released its most positive set of financial statements in several years on 16 March, describing its 2015 annual results as “a turning point … in terms of strategy and organisation, operating performance, and cash flow”. As part of its attempts to mark a break with years of heavy losses, the company also revealed that, subject to the approval of its shareholders, it will rebrand itself Leonardo from 1 January 2017.
Finmeccanica revenue rose to EUR12,995 million (USD14,700 million), up 1.8% from 2015. Net profit, however, reached EUR527 million, over 26 times the level recorded in 2014’s financial year, providing strong vindication of the efficiency savings pursued as part of the company’s long restructuring and divestment processes.
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