European defense companies should step up collaboration to fix ‘fragmented' sector, Leonardo CEO tells CNBC [CNBC]
LEONARDO SPA UNSP/ADR (FINMY)
NASDAQ:AMEX Investor Relations:
leonardocompany.com/en/investitori-investors
Company Research
Source: CNBC
The Rome-headquartered, Milan-listed company reported an 18% surge in full-year profits on Wednesday, reaching $2.1 billion. Europe's defense capabilities have come under greater scrutiny amid fractures in the NATO alliance and the war in Ukraine. In this article European defense companies must take a stronger lead on collaborating to help the continent become independent of the U.S. security umbrella, Leonardo 's CEO told CNBC. Speaking with CNBC's “Squawk Box Europe” on Wednesday after Leonardo's annual results statement, Roberto Cingolani said European defense companies have “all the capabilities and technical skills” and should not wait for governments to fix the sector, which he warned was “fragmented.” Companies should take the lead in a process of “aggregation”, which European governments would follow, he said, adding that this approach “pays a lot” and helps enable companies to become “better, faster, more profitable.” He pointed to Leonardo's partnership with the
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