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Italy’s Leonardo braces for coronavirus impact

12 March 2020
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Leonardo’s revenue and profit surged in the fourth quarter of 2019 and for the full year, but the Italy-based defence and aerospace manufacturer acknowledged on 12 March that the coronavirus disease (COVID-19) could hurt its 2020 financial results.

Despite taking “mitigating actions promptly” to preserve its business and protect its employees, including encouraging telework as much as possible, the company might not be able to avoid temporary shutdowns at production sites, as Italy is one of the countries hardest hit by COVID-19. It declined to estimate the extent of the potential impact, citing uncertainty about how much further the virus will spread.

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