Leonardo, the Italian aerospace and defense group, reported robust first-quarter performance with orders jumping 30.7% to 9 billion euros ($10.53 billion), driven by its defense electronics business as Europe continues its rearmament efforts. Revenue grew 6.9% to 4.45 billion euros, while the company's backlog increased 23% year-over-year.

Despite a decline in net profit to 162 million euros from 377 million a year earlier, Leonardo's adjusted EBIT surged 33% to 281 million euros, demonstrating improved operational efficiency. The company maintained its guidance for 2026, signaling confidence in its growth trajectory amid increasing defense spending across European nations.

The results reflect a broader trend in European defense contractors benefiting from heightened security concerns and increased military budgets following geopolitical tensions. Leonardo's performance positions it well to capitalize on sustained demand for advanced defense technologies and systems in the region.