ROME (Reuters – Italy’s aerospace and defense group Leonardo has confirmed its guidance for 2022 after reporting a surge in core profits and orders in the first quarter of this year.

The January-March orders were 10.8% higher year-over-year at 3.8 billion euro. Earnings before interest taxes and amortization (EBITA), were 39% higher in that same time period, reaching 132 million euros ($139million).

Alessandro Profumo Chief Executive stated that “the first quarter of 2022 was a strong start to the year with results consistent with Leonardo’s growth trajectory, which had been restarted in previous financial years.”

He said that the government-controlled group is “well-positioned in markets where significant increases in military budgets can be expected.”

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