Leonardo S.p.A., formerly Leonardo-Finmeccanica and originally Finmeccanica, is an Italian
multinational company
A multinational corporation (MNC; also called a multinational enterprise (MNE), transnational enterprise (TNE), transnational corporation (TNC), international corporation, or stateless corporation, is a corporate organization that owns and cont ...
specialising in
aerospace
Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial, and military applications. Aerospace engineering consists of aeronautics and astron ...
security
Security is protection from, or resilience against, potential harm (or other unwanted coercion). Beneficiaries (technically referents) of security may be persons and social groups, objects and institutions, ecosystems, or any other entity or ...
. Headquartered in
Rome
Rome (Italian language, Italian and , ) is the capital city and most populated (municipality) of Italy. It is also the administrative centre of the Lazio Regions of Italy, region and of the Metropolitan City of Rome. A special named with 2, ...
, the company has 180 sites worldwide. It is the 12th largest
defence contractor
A defense contractor is a business organization or individual that provides products or services to a military or intelligence department of a government. Products typically include military or civilian aircraft, ships, vehicles, weaponry, and ...
in the world based on 2020 revenues.Top 100 Arms-Producing and Military Service Companies SIPRI. Received 2019-12-18. The company is partially owned by the Italian government, which holds 30.2% of the company's shares and is its largest shareholder.
On 1 January 2016, Leonardo-Finmeccanica became a single industrial company by integrating the activities of its subsidiaries
AgustaWestland
AgustaWestland was an Anglo-Italian helicopter design and manufacturing company, which was a wholly owned subsidiary of Finmeccanica (now known as Leonardo). It was formed in July 2000 as an Anglo-Italian multinational company, when Finmeccani ...
,
Alenia Aermacchi
Alenia Aermacchi was a company active in the aeronautics sector, with offices and plants in Venegono Superiore, Varese, Turin Airport in San Maurizio Canavese, Province of Turin and Pomigliano d'Arco, Province of Naples. From 1 January 2016, the ...
OTO Melara
OTO Melara was a subsidiary of the Italian company Finmeccanica, today Leonardo, active in the defence sector, with factories in Brescia and La Spezia.
From 1 January 2016, the activities of OTO Melara merged into Leonardo's Defence Systems ...
and WASS. The company is organised into five divisions (Helicopters, Aircraft, Aerostructures, Electronics, Cybersecurity). It is also the parent company and corporate centre for the subsidiaries and joint ventures
Telespazio
Telespazio Spa is a European spaceflight services company founded in 1961. It is a joint venture owned by Leonardo (67%) and Thales Group (33%) headquartered in Rome.
Telespazio provides services that include the design and development of space ...
,
Thales Alenia Space
Thales Alenia Space () is a joint venture between the French technology corporation Thales Group (67%) and Italian defense conglomerate Leonardo (company), Leonardo (33%). The company is headquartered in Cannes, France.
It provides space-based ...
,
MBDA
MBDA is a European multinational corporation specialized in the design, development and manufacturing of Missile, missiles and related systems.ATR. Leonardo is listed on the
Borsa Italiana
Borsa Italiana () or Borsa di Milano (), based in Milan at Palazzo Mezzanotte, Mezzanotte Palace, is the Italy, Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and i ...
and is a constituent of the
FTSE MIB
The FTSE MIB (Milano Indice di Borsa) (the S&P/MIB prior to June 2009) is the benchmark stock market index for the Borsa Italiana, the Italian national stock exchange, which superseded the MIB-30 in September 2004. The index consists of the 40 m ...
and Dow Jones Sustainability Indices.
The company changed its name to Leonardo S.p.A. on 1 January 2017, after the Italian inventor
Leonardo da Vinci
Leonardo di ser Piero da Vinci (15 April 1452 - 2 May 1519) was an Italian polymath of the High Renaissance who was active as a painter, draughtsman, engineer, scientist, theorist, sculptor, and architect. While his fame initially rested o ...
.
History
Foundation
Società Finanziaria Meccanica, "Finmeccanica", was established in 1948 as the mechanical engineering subholding of the state-owned
Istituto per la Ricostruzione Industriale
The Istituto per la Ricostruzione Industriale (IRI; English: "Institute for Industrial Reconstruction") was an Italian public holding company established in 1933 by the Fascist regime to rescue, restructure and finance banks and private compani ...
(IRI). Finmeccanica has held for years some historic Italian enterprises, as
Alfa Romeo
Alfa Romeo Automobiles S.p.A. () is an Italian carmaker known for its sports-oriented vehicles, strong auto racing heritage, and iconic design. Headquartered in Turin, Italy, it is a subsidiary of Stellantis Europe and one of 14 brands of mu ...
(automobiles),
Aeritalia
Aeritalia was an aerospace engineering corporation based in Italy. It was formed out of the merger of two aviation companies, Fiat Aviazione and Aerfer, in 1969.
Aeritalia continued several programs of its preceding companies, perhaps most pr ...
(aerospace) and Ansaldo (engineering).
From the 1960s to the 1980s Italy's defence and
aerospace industry
Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial, and military applications. Aerospace engineering consists of aeronautics and astr ...
was split into state-holding entities: owned the helicopters manufacturer
Agusta
Agusta was an Italian helicopter manufacturer. It was based in Samarate, Northern Italy. The company was founded by Count Giovanni Agusta in 1923, who flew his first aeroplane in 1907. The MV Agusta motorcycle manufacturer began as an offshoot ...
, the defence company
Oto Melara
OTO Melara was a subsidiary of the Italian company Finmeccanica, today Leonardo, active in the defence sector, with factories in Brescia and La Spezia.
From 1 January 2016, the activities of OTO Melara merged into Leonardo's Defence Systems ...
and the electronic enterprise Officine Galileo. STET (another IRI subsidiary) held Selenia, Elsag and SGS Thomson, all electronic enterprises with specializations in security and defense. In 1989, an internal IRI reorganization process brought STET electronic enterprises to Finmeccanica, and the Aeritalia-Selenia merger constituted its aerospace subsidiary Alenia.
1990s
In 1992 EFIM was wound up because of its troubled financial situation; and Agusta, Oto Melara, Officine Galileo and
Breda
Breda ( , , , ) is a List of cities in the Netherlands by province, city and List of municipalities of the Netherlands, municipality in the southern part of the Netherlands, located in the Provinces of the Netherlands, province of North Brabant. ...
passed to Finmeccanica, which became one of the main Italian industrial groups. Finmeccanica, which was previously fully state owned by IRI, became partly privatized in 1993, when it was listed in the
Milan
Milan ( , , ; ) is a city in northern Italy, regional capital of Lombardy, the largest city in Italy by urban area and the List of cities in Italy, second-most-populous city proper in Italy after Rome. The city proper has a population of nea ...
Borsa Italiana
Borsa Italiana () or Borsa di Milano (), based in Milan at Palazzo Mezzanotte, Mezzanotte Palace, is the Italy, Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and i ...
stock exchange.
In 1992 Finmeccanica's
Agusta
Agusta was an Italian helicopter manufacturer. It was based in Samarate, Northern Italy. The company was founded by Count Giovanni Agusta in 1923, who flew his first aeroplane in 1907. The MV Agusta motorcycle manufacturer began as an offshoot ...
Eurocopter
Airbus Helicopters SAS (formerly Eurocopter S.A., trade name, trading as Eurocopter Group) is the helicopter manufacturer, helicopter manufacturing division of Airbus. It is the largest in the industry in terms of revenues and turbine helicopte ...
(62.5%) and
Fokker
Fokker (; ) was a Dutch aircraft manufacturer that operated from 1912 to 1996. The company was founded by the Dutch aviator Anthony Fokker and became famous during World War I for its fighter aircraft. During its most successful period in the 19 ...
(5.5%).
2000s
In July 2000 Finmeccanica and the British GKN agreed to merge their respective helicopter subsidiaries (
Agusta
Agusta was an Italian helicopter manufacturer. It was based in Samarate, Northern Italy. The company was founded by Count Giovanni Agusta in 1923, who flew his first aeroplane in 1907. The MV Agusta motorcycle manufacturer began as an offshoot ...
AgustaWestland
AgustaWestland was an Anglo-Italian helicopter design and manufacturing company, which was a wholly owned subsidiary of Finmeccanica (now known as Leonardo). It was formed in July 2000 as an Anglo-Italian multinational company, when Finmeccani ...
. In December 2001, the missile business of
Alenia Marconi Systems
Alenia Marconi Systems (AMS) was a major European integrated defence electronics company and an equal shares joint venture between BAE Systems and Finmeccanica (now Leonardo S.p.A.) until its dissolution on 3 May 2005.
AMS was formed in 1998 by ...
(AMS), a joint Finmeccanica/
BAE Systems
BAE Systems plc is a British Multinational corporation, multinational Aerospace industry, aerospace, military technology, military and information security company, based in London. It is the largest manufacturer in Britain as of 2017. It is ...
company, was merged with other European missile manufacturers to form
MBDA
MBDA is a European multinational corporation specialized in the design, development and manufacturing of Missile, missiles and related systems.BAE Systems
BAE Systems plc is a British Multinational corporation, multinational Aerospace industry, aerospace, military technology, military and information security company, based in London. It is the largest manufacturer in Britain as of 2017. It is ...
announced their intention to set up three joint venture companies, to be collectively known as Eurosystems. These companies would have pooled the avionics, C4ISTAR and communications businesses of the two companies.
In March 2007, BAE Systems sold its 25% share to Finmeccanica for €400 million. In January 2013 the company merged with Finmeccanica's other defence electronics companies, SELEX Elsag and SELEX Sistemi Integrati, to become Selex ES. In May 2008 Finmeccanica announced its intention to purchase the U.S. defense contractor DRS Technologies for nearly $5.2 billion. In October 2008 the sale of DRS Technologies was finalized.
2010s
During 2011–2013, Finmeccanica emails were published by
WikiLeaks
WikiLeaks () is a non-profit media organisation and publisher of leaked documents. It is funded by donations and media partnerships. It has published classified documents and other media provided by anonymous sources. It was founded in 2006 by ...
and Finmeccanica was subject to judicial inquiries on several fronts and management changes.
According to Finmeccanica emails published in the Syria Files release by
WikiLeaks
WikiLeaks () is a non-profit media organisation and publisher of leaked documents. It is funded by donations and media partnerships. It has published classified documents and other media provided by anonymous sources. It was founded in 2006 by ...
on 5 July 2012, Finmeccanica increased its sale of mobile communications equipment to Syrian authorities during 2011, delivering 500 of these to the
Damascus
Damascus ( , ; ) is the capital and List of largest cities in the Levant region by population, largest city of Syria. It is the oldest capital in the world and, according to some, the fourth Holiest sites in Islam, holiest city in Islam. Kno ...
suburb Muadamia in May 2011, after the Syrian uprising had started, and sending engineers to Damascus in February 2012 to provide training in using the communications equipment in helicopter terminals, while the uprising continued. Finmeccanica stated that the equipment sales were legal, they occurred "before the outbreak of conflict inside Syria", and the equipment "was designed for use by emergency responders" for civilian use only.
On 12 February 2013, the chief executive, Giuseppe Orsi, was arrested on corruption charges. Prosecutors alleged that he paid bribes to ensure the sale of 12 helicopters to the Indian government, when he was head of the group's AgustaWestland unit.
In July 2013, the Letta government appointed former police chief Giovanni De Gennaro as Chairman of Finmeccanica. In December 2013 Finmeccanica sold 39.55% of its share capital in Ansaldo Energia to Fondo Strategico Italiano.
In the first half of 2014, Finmeccanica's new chief executive officer and General Manager Mauro Moretti started a significant process of change for the Group, both in terms of strategic choices and organizational structure. The goal was to create a more cohesive and efficient group in which all processes (research, marketing and sales, engineering, procurement, strategies and governance) are centralized and integrated and can interact each other. This encompasses the 100% owned companies of the core aerospace and defence business (AgustaWestland, Alenia Aermacchi, Oto Melara, Selex ES and WASS) being transformed into seven new Finmeccanica divisions. The current holding company will then become an operating company based on seven major business areas, maintaining its parent company and corporate centre function for the Group companies excluded from the model (DRS Technologies, Telespazio, Thales Alenia Space, MBDA and ATR).
At the end of 2014, Finmeccanica transferred its stake in BredaMenarinibus to the newco Industria Italiana Autobus (20% Finmeccanica and 80% King Long), thereby taking a further step in the Group's portfolio rationalization process.
In 2015,
Hitachi
() is a Japanese Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1910 and headquartered in Chiyoda, Tokyo. The company is active in various industries, including digital systems, power and renewable ener ...
signed a binding agreement with Finmeccanica for Hitachi's acquisition of the AnsaldoBreda business, excluding some revamping activities and residual contracts, and of the entire Finmeccanica stake in the share capital of
Ansaldo STS
Hitachi Rail STS SpA (from ''Hitachi Rail Signalling and Transportation Systems'') or Hitachi Rail STS (previously Ansaldo STS) is an Italian transportation company owned by Hitachi with a global presence in the field of railway signalling and in ...
, approximately 40% of the total capital.
FATA, another subsidiary of the Finmeccanica Group since 2004 that was not part of the core business, was sold in 2015 to the Gruppo Danieli, dealing in the production of steel plants.
On 1 January 2016, Finmeccanica became a single integrated industrial entity, that absorbed the activities of AgustaWestland, Alenia Aermacchi, Selex ES, OTO Melara and WASS.
From Finmeccanica to Leonardo
A company rebranding operation led by Mauro Moretti began in March 2016, with a proposal to change the company name. From 1 January 2017 Finmeccanica officially became Leonardo, a name inspired by the Italian ''savant''
Leonardo da Vinci
Leonardo di ser Piero da Vinci (15 April 1452 - 2 May 1519) was an Italian polymath of the High Renaissance who was active as a painter, draughtsman, engineer, scientist, theorist, sculptor, and architect. While his fame initially rested o ...
. In March 2017 the Italian Treasury proposed that the veteran banker Alessandro Profumo replace Mauro Moretti as CEO of Leonardo. In May 2017 the Board appointed Alessandro Profumo to the role.
2020s
On 10 May 2023 the Board of Directors appointed Mr. Roberto Cingolani to the position of chief executive officer and General Manager, Mr. Stefano Pontecorvo to the role of chairman, Mr. Lorenzo Mariani to the role of Co-General Manager. Turkish defense firm Baykar and Leonardo have decided to cooperate in the field of unmanned aerial vehicles.
Organization
; Aeronautics
: Leonardo designs, develops, produces, maintains and upgrades commercial, military and military training aircraft, as well as producing aerostructures. The company is part of a network of joint ventures and product partnerships, including such programs as the Global Combat Air Programme (with BAE Systems and Mitsubishi Heavy Industries) to build a 6th generation fighter, Eurofighter (with BAE Systems and Airbus Group) to build the supersonic multi-role
Typhoon
A typhoon is a tropical cyclone that develops between 180° and 100°E in the Northern Hemisphere and which produces sustained hurricane-force winds of at least . This region is referred to as the Northwestern Pacific Basin, accounting for a ...
, and the ATR (with Airbus Group) to build the family of turboprop regional aircraft of the same name.
; Helicopters
: Leonardo is active in the helicopter market, managing: development to production, pilot training and after sales support. Leonardo produces a range of helicopters for the commercial and defence markets, including all the main weight categories, from 1.8-tonne single-engined to 16-tonne three-engined helicopters.
:The company launched its VIP helicopters and travel services under a related new name "Agusta" and unveiled the heliport called "Casa Agusta" at a formal ceremony at the Expo 2020 in Dubai.
:Leonardo is developing a helicopter-like autonomous large drone for the Royal Navy named Proteus.
; Defence Electronics & Security
: Leonardo develops and integrates systems for the air and sea traffic management and the control and protection of land and sea borders; it also develops secure communications networks for the management of infrastructure and systems. The services include the design and management of IT infrastructure and data processing for intelligence and cyber security. Leonardo is active in the design, development and production of naval artillery, armoured vehicles and underwater systems. In the Defence Electronics & Security sector, Leonardo operates through its US subsidiary DRS Technologies and the joint venture
MBDA
MBDA is a European multinational corporation specialized in the design, development and manufacturing of Missile, missiles and related systems.
: In the space sector, Leonardo is active mainly through joint ventures
Telespazio
Telespazio Spa is a European spaceflight services company founded in 1961. It is a joint venture owned by Leonardo (67%) and Thales Group (33%) headquartered in Rome.
Telespazio provides services that include the design and development of space ...
(Leonardo 67% - Thales 33%) and
Thales Alenia Space
Thales Alenia Space () is a joint venture between the French technology corporation Thales Group (67%) and Italian defense conglomerate Leonardo (company), Leonardo (33%). The company is headquartered in Cannes, France.
It provides space-based ...
(Leonardo 33% - Thales 67%). Telespazio offers a wide range of skills and services from design and development of space systems, launch services management and in-orbit satellites to Earth observation services, integrated communications and satellite navigation and localisation. Thales Alenia Space is engaged in the design, integration, testing and implementation of space systems, for navigation, telecommunications, meteorology, environmental control, defence, scientific missions and Earth observation.
Areas of business
Leonardo is present worldwide in about 20 countries (42% in Italy and 58% abroad). Commercially, there are about 150 countries in the world that use products, systems and services supplied by Leonardo.
Its production activities and its main industrial and commercial bases are located in Italy, the United Kingdom, Poland and the United States. Leonardo has gained a significant presence in France and Germany, and is a partner for various international industrial collaborations.
The company is an
ITER
ITER (initially the International Thermonuclear Experimental Reactor, ''iter'' meaning "the way" or "the path" in Latin) is an international nuclear fusion research and engineering megaproject aimed at creating energy through a fusion process s ...
supplier.
In December 2021, Leonardo Electronics announced it would be building a
semiconductor device fabrication
Semiconductor device fabrication is the process used to manufacture semiconductor devices, typically integrated circuits (ICs) such as microprocessors, microcontrollers, and memories (such as Random-access memory, RAM and flash memory). It is a ...
facility in
Oro Valley, Arizona
Oro Valley, incorporated in 1974, is a suburban town located north of Tucson, Arizona, United States, in Pima County. According to the 2020 census, the population of the town is 47,070, an increase from 29,700 in 2000. Dubbed the "Upscale Tech ...
with construction beginning in the first half of 2022. Leonardo's ongoing supply of equipment for Israel's military has attracted controversy.
Subsidiaries
* 100% Leonardo Global Solutions
* 100% Leonardo International
* 100% Leonardo Logistics
* 100% Leonardo UK
* 72.3%
Leonardo DRS
Leonardo DRS, formerly DRS Technologies, Inc., is a US-based defense contractor. Previously traded on the NYSE, the company was purchased by the Italian firm Finmeccanica (now Leonardo) in October 2008.
History
Diagnostic/Retrieval Systems, Inc ...
* 100% KOPTER Group
* 100% PZL-Świdnik
Joint ventures
* 67%
Telespazio
Telespazio Spa is a European spaceflight services company founded in 1961. It is a joint venture owned by Leonardo (67%) and Thales Group (33%) headquartered in Rome.
Telespazio provides services that include the design and development of space ...
Leonardo Rheinmetall Military Vehicles
Leonardo or The Leonardo may refer to:
Arts and entertainment
* '' Leonardo Journal'', an arts journal
* ''Leonardo'' (Italian magazine), a philosophy magazine published in Florence, Italy, in 1903–1907
* ''Leonardo'' (journal), published b ...
(LRMV)
* 49% Orizzonte Sistemi Navali
* 33%
Thales Alenia Space
Thales Alenia Space () is a joint venture between the French technology corporation Thales Group (67%) and Italian defense conglomerate Leonardo (company), Leonardo (33%). The company is headquartered in Cannes, France.
It provides space-based ...
Avio
Avio S.p.A. is an Italian company operating in the aerospace sector with its head office in Colleferro near Rome, Italy. Founded in 1908, it is present in Italy and abroad with different commercial offices and 10 production sites. Avio operate ...
SpA
* 25%
MBDA
MBDA is a European multinational corporation specialized in the design, development and manufacturing of Missile, missiles and related systems.Hensoldt
Hensoldt AG ''(HENSOLDT)'' is a multinational corporation headquartered in Germany which focuses on sensor technologies for protection and surveillance missions in the Military, defence, security and aerospace sectors. The main product areas are r ...
* 21%
Eurofighter GmbH
Eurofighter Jagdflugzeug GmbH () is a German-headquartered multinational company and joint venture that coordinates the design, production and upgrade of the Eurofighter Typhoon military jet.
Founded in 1986, it has its head office in Hallbe ...
* * Restated figures due to the adoption of IFRS 11, which resulted in the deconsolidation of the joint ventures' group.
* **Restated figures as a result of the reclassification of the transport sector as a discontinued operation.
Sources: