Leonardo SpA

The UN Special Rapporteur's report of 30 June 2025 cites this page for its statement that the University of Edinburgh partners with firms aiding Israeli military operations, including Leonardo. The page lists Leonardo among the collaboration's partners, alongside Thales, QinetiQ, BAE Systems, MBDA and others, and records that the collaboration is delivered in partnership between the Defence Science and Technology Laboratory, the University of Edinburgh, Heriot-Watt University, Queen's University Belfast and the University of Strathclyde.

The company's own management page names Francesco Macri as Chairman, Lorenzo Mariani as Chief Executive Officer and General Manager, and Gian Piero Cutillo as Co-General Manager. Mariani's biography records that he has held the role since 7 May 2026, having come from MBDA, where he was Executive Group Director for Sales and Business Development and managing director of MBDA Italia, and having earlier been Leonardo's Co-General Manager and head of its Land and Naval Defence Electronics Division.

New orders of EUR 16 billion, up 45% year on year; revenues of EUR 10 billion, up 12%; EBITA of EUR 780 million; order backlog risen to about EUR 59 billion, up 30%, partly through the acquisition of Iveco Group's defence business completed on 18 March 2026 for about EUR 1.6 billion. The board met under the chairmanship of Francesco Macri, and the results are quoted to Lorenzo Mariani as chief executive officer and general manager.

Leonardo's own published answers to written questions submitted under Italian law before its annual meeting. On the naval guns it says a contract for 76/62 Super Rapid Multi-Feeding systems, with spare parts, equipment and training, was signed with the Israeli Ministry of Defense in 2019, that export licences were duly obtained, and that deliveries were completed in May 2023 apart from a training gun that was never delivered. It says it has no knowledge of the $440 million order approved by the United States in 2017 that the questioner referred to. Asked whether it supplied technical assistance, maintenance, spares, software updates, training or logistics for the 76/62 guns after 7 October 2023, it answers that up to 2024 it shipped spare parts and equipment for the system in fulfilment of obligations already assumed and under licences issued before the block on new export authorisations, 'con un valore totale di circa 465.000 euro di cui 227.000 euro in conto garanzia' - a total value of about EUR 465,000, of which EUR 227,000 under warranty. On the M-346 it says the foreign ministry's arms authorisation unit, UAMA, suspended the issue of new authorisations to negotiate and new export licences after 7 October 2023, so no new contracts can be signed, but that supply contracts for materials and services relating to the aircraft are in execution and the export licences for them remain in force. Asked how it could suspend orders to a country that has entered a conflict, it says that where the country is subject to suspensions or sanctions by the Italian or European legislator, 'Leonardo potra sospendere qualunque ordine senza penali' - Leonardo may suspend any order without penalties - and that no payment of penalties is recorded. It says it exports no armaments to Israel under the F-35 programme, and that wing assemblies and maintenance services produced at Cameri under contracts with Lockheed Martin are destined by Lockheed to third countries but not to the State of Israel. On MBDA, in which it holds 25%, it says dividends cannot be attributed to individual products, and that total dividends received through AMSH BV were EUR 102 million in 2024 and EUR 209 million in 2025; asked about MBDA Inc's contract with Boeing for components of the GBU-39 guided bomb, it answers that no knowledge of that contract is recorded.

Sets out the mechanisms any shareholder can use. Under Article 127-ter of Legislative Decree 58/98, anyone with voting rights may submit questions on the items of the agenda before the meeting; questions must reach the company by the seventh trading day beforehand, which for 2026 was 27 April, sent by fax or to the certified address assemblea@pec.leonardo.com, with certification of share ownership at the record date. The company undertakes to publish its answers on its website at least three days before the meeting. Shareholders representing at least one fortieth of the share capital may request additions to the agenda or submit additional resolution proposals, and individual resolution proposals on items already on the agenda could be submitted by 22 April 2026.

The group's own annual report. It states that at 31 December 2025 the Ministry of Economy and Finance owned around 30.204% of the share capital, with institutional investors holding 50.8%, retail investors 18.8% and company-related holdings 0.2%. The Defence Electronics and Security division lists Israel among its main countries, alongside Italy, the United Kingdom, the United States, Germany, Canada and France, and lists MBDA at 25% and Hensoldt at 22.8% among investees of strategic and financial importance. The list of consolidated companies records DRS RADA Technologies Ltd of Netanya, Israel, wholly owned by Leonardo DRS Inc and held at 71.38% by the group. The financial statements are certified by Roberto Cingolani as chief executive and Giuseppe Aurilio as officer in charge of financial reporting.

New orders of EUR 23.8 billion, up 15%; revenues of EUR 19.5 billion, up 11%; EBITA of EUR 1.75 billion; net result of EUR 1.3 billion; free operating cash flow of EUR 1.0 billion; a proposed dividend of EUR 0.63 per share. Guidance for 2026 is about EUR 25 billion of orders and EUR 21 billion of revenues. The board met under the chairmanship of Stefano Pontecorvo, before the board renewal of May 2026.

The subsidiary's own annual report. Revenues of $3,648 million, against $3,234 million in 2024 and $2,826 million in 2023. Eighty per cent of 2025 revenue came directly or indirectly from the US government. It states: 'We conduct significant business and manufacturing activities in Israel', and warns that conflict in the region could disrupt its Israeli operations. Its property schedule lists engineering and office space at Netanya, Israel, of 40,238 square feet, and manufacturing, engineering and office space at Beit She'an. It records that Leonardo S.p.A. owns the entire share capital of Leonardo US Holding, which holds approximately 71% of the voting power of DRS common stock, and that the Italian state beneficially owns approximately 30.2% of Leonardo S.p.A.'s voting power, which has led US regulators to treat DRS as controlled by a foreign government and to require a proxy agreement with the Department of War. The cover page and Item 5 record the stock as listed on the Nasdaq Stock Market alone.

Leonardo is one of the 104 businesses screened by the European coalition, whose research is carried out by Profundo and whose foreword is by Francesca Albanese. The report identifies 1,115 European financial institutions with relationships to those businesses, USD 310 billion in loans and underwriting between January 2023 and August 2025, and USD 1,503 billion in shares and bonds held at 31 August 2025. The BDS National Committee also lists Leonardo among its non-Israeli institutional-pressure targets in the military and security category, which is a divestment and exclusion listing rather than a consumer boycott call.

The Commission concluded that Israel has committed genocide against Palestinians in the Gaza Strip, finding that four of the five acts of genocide defined in the Genocide Convention were committed. The finding is confined to Gaza and covers 7 October 2023 to 31 July 2025.

Francesca Albanese's report names Leonardo four times. It names 'Italian manufacturer Leonardo S.p.A' among the at least 1,650 companies in the F-35 programme led by Lockheed Martin, from which Israel draws the aerial power described in the report. It records that in partnership with companies including 'Leonardo DRS, Inc.-owned RADA Electronic Industries', Israel 'has evolved Caterpillar's D9 bulldozer into automated, remote-commanded core weaponry of the military', deployed in almost every military activity since 2000, 'clearing incursion lines, "neutralizing" the territory and killing Palestinians'. It records that BNP Paribas provided $410 million in loans to Leonardo between 2021 and 2023, and that Barclays provided $228 million in 2024. It records the University of Edinburgh partnering with 'firms aiding Israeli military operations, including Leonardo S.p.A.' The report is illustrative rather than exhaustive, and names entities without making findings of guilt.

The Israeli-based research centre lists Leonardo under Population Control, in the sub-category Specialized Equipment and Services, with the region tagged Gaza. It records that Leonardo manufactures the OTO 76/62 Super Rapido Multi-Feeding naval gun installed on the Israeli Navy's Sa'ar 4.5, Sa'ar 5 and Sa'ar 6 warships, 'which have been used for military assaults and enforcing the illegal naval blockade of Gaza'. It records four 76/62 guns delivered in September 2022 for the Sa'ar 6 ships, which 'later took part in an Israeli attack on Gaza in October 2023, in their first operational use', carried out from the Mediterranean toward Gaza; the guns were ordered in 2016 for an estimated $100 million, funded by US foreign military aid. It records that 'according to the Israeli military, by May 2024 the 76/62 cannons had become an active part of the military's attacks'. It records that RADA Electronic Industries, wholly owned by Leonardo, supplies its Compact Hemispheric Radars for Elbit Systems' Iron Fist system, used on the Eitan armoured personnel carrier and on Caterpillar D9 bulldozers which took part in the ground invasion of Gaza, the system entering operational use during that invasion in October 2023. It records a $15.37 million contract awarded to Leonardo's DRS Sustainment Systems in December 2023 for heavy-duty tank trailers for the Israeli military, funded by US Foreign Military Sales and estimated for completion in December 2026. It puts the 2012 purchase of 30 M-346 aircraft at $2 billion, records the reciprocal deal under which Italy bought two early-warning aircraft and an observation satellite from Israel Aerospace Industries, and records the February 2019 order of seven AW119Kx helicopters at about $157 million with twenty years of support for the Israeli Air Force flight school. All information on the page is stated as valid until 14/01/2025.

The International Court of Justice found Israel's continued presence in the occupied Palestinian territory unlawful and set out the obligations of states in relation to trade and dealings arising from it. The legal framework on which export licence suspensions and procurement exclusions rest.

The American Friends Service Committee places Leonardo on its BDS Divestment Shortlist, tagged Gaza Genocide and Weapons and Military Equipment, and describes it as 'an Italian weapons manufacturer that provides the Israeli Navy with warship guns'. It records the Ministry of Economy and Finance owning 30% of the company, and the OTO Melara 76/62 Super Rapid guns installed on Sa'ar 4.5, Sa'ar 5 and Sa'ar 6 warships. It records that the Sa'ar 6 'was used operationally for the first time on Oct. 16, 2023, during Israel's massive attacks on Gaza', and that the Sa'ar fleet 'has been instrumental in enforcing Israel's naval blockade of the Gaza Strip since 2007'. It records the guns being ordered for Israel by the US Navy in 2016 through Foreign Military Sales, manufactured at Leonardo's factory in Largo, Florida, with the last four in the order, worth $100 million, arriving in Israel in 2022. It puts the 2012 M-346 deal at some $1 billion and records the AW119Kx helicopters as manufactured at Leonardo's Philadelphia facility. Page stated as valid as of 30 January 2024.

The International Court of Justice found a real and imminent risk to the right of Palestinians in Gaza to be protected from acts of genocide, and ordered Israel to prevent them. The order makes no finding on the merits, which remain pending, but it establishes a duty of prevention that suppliers of weapon systems cannot claim ignorance of.

Reports the Israeli Navy using its Sa'ar 6 corvettes against ground targets in the Gaza Strip as ground troops assembled. The article carries a photograph credited to the Israeli Defense Forces, captioned 'An Israeli Navy Sa'ar 6 corvette pictured firing its main gun system towards targets in the Gaza Strip.' The main gun on the class is Leonardo's Oto Melara 76mm Super Rapid.

Leonardo DRS announced completion of the all-stock merger with RADA Electronic Industries Ltd on 28 November 2022. RADA shareholders retained 19.5% of the combined company and Leonardo S.p.A. the remaining 80.5%. The announcement states that the stock would be listed on Nasdaq and the Tel Aviv Stock Exchange under the symbol DRS, with Nasdaq trading opening on 29 November 2022 and Tel Aviv trading on 30 November. The Tel Aviv listing is recorded in the company's Form 10-K for 2022; the annual reports for 2023 and every year since record Nasdaq alone.

A project profile of the four Sa'ar 6 warships built for the Israeli Navy by ThyssenKrupp Marine Systems at Kiel, based on the German MEKO 100 design, ordered in 2015 at an estimated $480 million with a German government subsidy. It records that the forward bow section is fitted with 'an Oto Melara 76mm Super Rapid gun mount, which offers a high rate of fire against air and surface targets', alongside C-Dome point defence, anti-ship missiles, torpedo launchers and Rafael Typhoon remote weapon stations. The page establishes the armament fit; the delivery dates and contract values for the guns come from Who Profits and AFSC Investigate.