Leonardo posts 44% order growth in H1 2026, completes €1.6bn Iveco Defence acquisition

Leonardo’s Board of Directors, chaired by Francesco Macrì, unanimously approved the company’s first‑half 2026 results. CEO Lorenzo Mariani said the figures confirm the execution of the industrial plan, with orders reaching €16.3 billion – a 44.6% increase over the same period in 2025 – and the order portfolio expanding to about €59 billion. The book‑to‑bill ratio stood at roughly 1.6×, and operating profitability and cash generation improved, prompting a revision upward of the 2026 guidance for orders, cash flow and EBITA.

On 18 March 2026 Leonardo finalized the acquisition of Iveco Group’s defence business (Iveco Defence) for approximately €1.6 billion, financed with internal resources and fully integrated into the group. The deal strengthens Leonardo’s position in land‑based defence and supports its shift toward a “systems‑of‑systems” strategy, with further synergies expected across divisions, including unmanned systems and aerospace structures.