Analyst Summary: Leonardo, a multinational company specializing in aerospace, defense, and security, released its 2022 financial results, which showed significant growth in orders, revenues, and profits. The company reported new orders of €17.3 billion, up 21% from the previous year, while revenues increased by 4.7%. The earnings before interest, taxes, depreciation, and amortization (EBITA) grew by 14.9% and the net result by 58.8% to reach €697 million and €932 million, respectively. Furthermore, the company's free operating cash flow (FOCF) more than doubled to €539 million, reflecting strong cash generation. Additionally, the Group's net debt decreased by 3.4% to €3.016 billion, mainly due to the proceeds from the sale of businesses and cash flow generation. The CEO, Alessandro Profumo, attributed the positive performance to the Group's enhanced industrial strength, accelerating commercial momentum, solid financial position, and sustainability. Based on the current assessment, the company issued guidance for 2023 with orders at €17 billion, revenues at €15-15.6 billion, and EBITA at €1.26-1.31 billion. Leonardo is confident in its growth prospects, supported by solid fundamentals and sustained cash flow generation.