Latest news with #LeonardoSpA
New Straits Times
11 hours ago
- Business
- New Straits Times
Anwar meets Italian defence, energy industry leaders
ROME: Datuk Seri Anwar Ibrahim began the second day of his official visit to Italy by holding direct engagement sessions with the country's key business leaders. The prime minister said he met with two Italian defence industry giants in Fincantieri SpA and Leonardo SpA, both of whom had recently participated in the Langkawi International Maritime and Aerospace exhibition (Lima '25) He said the meetings had strengthened the prospects for long-term relationships between Malaysia and Italy. The meeting with Fincantieri was with its chief executive officer Pierroberto Folgiero, while Leonardo was represented by its senior vice-president (marketing and strategic campaigns) Tomasso Pani. "I stressed the importance of a government-to-government (G2G) approach to strengthen Malaysia's position as a hub for maintenance, repair and overhaul (MRO) operations in Southeast Asia," said Anwar. Meanwhile, the prime minister met with Italian energy company ENI SpA, represented by its CEO Claudio Descalzi, and Petronas president and CEO Tan Sri Tengku Muhammad Taufik. In the meeting, they discussed existing cooperation and also worked to explore new investment opportunities that could be mutually beneficial. "I took advantage of this session to affirm that Malaysia remains a stable, progressive, and reliable investment destination," said Anwar, while urging that all commitments that were expressed be followed up with concrete actions so that the planned investments can be realised within the stipulated timeframe. The Malaysian delegation also included representatives from relevant ministries and agencies in order to strengthen bilateral ties and attract quality investments from Italy.
Yahoo
2 days ago
- Business
- Yahoo
Why Defense Stocks Are Likely to Keep on Rolling
June 30, 2025 (Maple Hill Syndicate) The defense stocks I recommended in this column in June 2023 returned 118% in two years. That's a fat return, but I don't think it's time to take profits yet. Vladimir Putin invades Ukraine and saber-rattles about nuclear weapons, I wrote on June 26, 2023. Xi Jinping says he wants his military to be ready to invade Taiwan by 2027. Then there's Iran and North Korea. Both implacably dislike the U.S. and are formidably armed. Warning! GuruFocus has detected 1 Warning Sign with FINMY. Thanks to Israeli and U.S. bombardment of strategic sites, Iran is a little less formidably armed now. But I don't think it likes us any better. U.S. relations with Russia are as bad as they were in mid-2023, and our relationship with China is probably worse. All in all, I believe that defense stocks are still timely. The Record Europe is rapidly increasing its defense spending, both in response to threats from Vladimir Putin's Russia and in response to redoubled pressure from U.S. President Donald Trump. Trump has flatly stated that he is unwilling to see the U.S. defense European allies who spend skimpily on the military. No wonder, then, that European defense companies were the best gainers among the six stocks I recommended. Leonardo SpA (FINMY), the largest defense company in Italy, returned 420% in the two years from June 26, 2023 to June 26, 2025. BAE Systems Plc (BAESY), a British defense giant, returned 133% including dividends. The next best gainer, with a 95% return, was Ducommun Inc. (NYSE:DCO), a small U.S. defense and aerospace company. Other gains were more moderate: 43% in General Dynamics Corp. (NYSE:GD), 14% in Northrop Grumman Corp. (NYSE:NOC) and 7% in Lockheed Martin Corp. (NYSE:LMT). For comparison, the Standard & Poor's 500 Total Return Index returned 46% in the two-year period. Bear in mind that my column results are hypothetical and shouldn't be confused with results I obtain for clients. Also, past performance doesn't predict the future. Dassault One defense stock that I like is Dassault Aviation SA (DUAVF), a French manufacturer of military jets. It increased its earnings almost 15% a year over the past decade, and 39% last year. At 28 times recent earnings (18 times estimated 2026 earnings), this stock is far from cheap. However, the pressures for European countries to increase defense spending are immense. Another thing I like about Dassault is that it has very little debt, with borrowings equal to only about 4% of the company's net worth. Babcock Babcock International Group Plc (BCKIY), headquartered in London, isn't totally a defense company: It services nuclear plants. However, more than half its business is military -- taking care of nuclear reactors on submarines. Unlike Dassault, Babcock has a high ratio of debt to equity, 190%. The earnings history is spotty, with losses in three of the past 15 fiscal years. Earnings spurted in the latest year (ended in March 2025). Ahead, analysts see continued progress but at a slower pace than in 2024-2025. BAE Systems Prime Minister Keir Starmer has set a goal for Britain to spend 5% of its gross domestic product (GDP) on national defense. That would be a huge increase from recent levels around 2.3%. BAE Systems (BAESY) is the largest defense company in Britain, and also has revenue streams from the U.S., Canada, Australia and Saudi Arabia. It makes electronic warfare equipment, tanks, ships and fighter jets. The stock has climbed 53% in the past year and 153% in the past three years. Huntington Ingalls China has a huge advantage over the U.S. in shipbuilding capacity. It would take years to fully equalize, but Congress may want to take steps in that direction. If so, one beneficiary would be Huntington Ingalls Industries Inc., (NYSE:HII), which builds destroyers and amphibious landing ships. Huntington Ingalls had revenue of $11.5 billion last year, but its market value is only a bit above $9 billion. That ratio to me suggests a bargain. Also, the stock sells for 17 times earnings, while many defense stocks fetch 40 times earnings or more. Lockheed I've owned Lockheed Martin Corp. (NYSE:LMT) stock in the past, and been mildly disappointed. The stock price has advanced only 5% a year in the past five years (but 8% with dividends). Nonetheless, Lockheed shares deserve consideration for two reasons. Lockheed conducts a lot of top-secret research at its famous Skunkworks. And its profitability is unusually high, with an 83% return on equity in the past 12 months. On the downside, it carries a heavy dollop of debt. Lockheed shares sell for just under 20 times earnings. Disclosure: I own Dassault, Babcock, General Dynamics and BAE Systems personally and for most of my clients. John Dorfman is chairman of Dorfman Value Investments in Boston. His firm or clients may own or trade securities discussed in this column. He can be reached at jdorfman@ This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 days ago
- Business
- Forbes
Why Defense Stocks Are Likely To Keep On Rolling
Nuclear submarine produced by BAE Systems in Britain. Although European defense stocks have already ... More advance strongly, increased spending on defense may propel them further. Photo by Paul Ellis/AFP via Getty Images) he defense stocks I recommended in this column in June 2023 returned 118% in two years. That's a fat return, but I don't think it's time to take profits yet. 'Vladimir Putin invades Ukraine and saber-rattles about nuclear weapons,' I wrote on June 26, 2023. 'Xi Jinping says he wants his military to be ready to invade Taiwan by 2027. Then there's Iran and North Korea. Both implacably dislike the U.S. and are formidably armed.' Thanks to Israeli and U.S. bombardment of strategic sites, Iran is a little less formidably armed now. But I don't think it likes us any better. U.S. relations with Russia are as bad as they were in mid-2023, and our relationship with China is probably worse. All in all, I believe that defense stocks are still timely. Europe is rapidly increasing its defense spending, both in response to threats from Vladimir Putin's Russia and in response to redoubled pressure from U.S. President Donald Trump. Trump has flatly stated that he is unwilling to see the U.S. defense European allies who spend skimpily on the military. No wonder, then, that European defense companies were the best gainers among the six stocks I recommended. Leonardo SpA (FINMY), the largest defense company in Italy, returned 420% in the two years from June 26, 2023 to June 26, 2025. BAE Systems Plc (BAESY), a British defense giant, returned 133% including dividends. The next best gainer, with a 95% return, was Ducommun Inc. (DCO), a small U.S. defense and aerospace company. Other gains were more moderate: 43% in General Dynamics Corp. (GD), 14% in Northrop Grumman Corp. (NOC) and 7% in Lockheed Martin Corp. (LMT). For comparison, the Standard & Poor's 500 Total Return Index returned 46% in the two-year period. Bear in mind that my column results are hypothetical and shouldn't be confused with results I obtain for clients. Also, past performance doesn't predict the future. One defense stock that I like is Dassault Aviation SA, a French manufacturer of military jets. It increased its earnings almost 15% a year over the past decade, and 39% last year. At 28 times recent earnings (18 times estimated 2026 earnings), this stock is far from cheap. However, the pressures for European countries to increase defense spending are immense. Another thing I like about Dassault is that it has very little debt, with borrowings equal to only about 4% of the company's net worth. Babcock International Group Plc (BCKIY), headquartered in London, isn't totally a defense company: It services nuclear plants. However, more than half its business is military -- taking care of nuclear reactors on submarines. Unlike Dassault, Babcock has a high ratio of debt to equity, 190%. The earnings history is spotty, with losses in three of the past 15 fiscal years. Earnings spurted in the latest year (ended in March 2025). Ahead, analysts see continued progress but at a slower pace than in 2024-2025. Prime Minister Keir Starmer has set a goal for Britain to spend 5% of its gross domestic product (GDP) on national defense. That would be a huge increase from recent levels around 2.3%. BAE Systems is the largest defense company in Britain, and also has revenue streams from the U.S., Canada, Australia and Saudi Arabia. It makes electronic warfare equipment, tanks, ships and fighter jets. The stock has climbed 53% in the past year and 153% in the past three years. China has a huge advantage over the U.S. in shipbuilding capacity. It would take years to fully equalize, but Congress may want to take steps in that direction. If so, one beneficiary would be Huntington Ingalls Industries Inc., (HII), which builds destroyers and amphibious landing ships. Huntington Ingalls had revenue of $11.5 billion last year, but its market value is only a bit above $9 billion. That ratio to me suggests a bargain. Also, the stock sells for 17 times earnings, while many defense stocks fetch 40 times earnings or more. I've owned Lockheed Martin Corp. (LMT) stock in the past, and been mildly disappointed. The stock price has advanced only 5% a year in the past five years (but 8% with dividends). Nonetheless, Lockheed shares deserve consideration for two reasons. Lockheed conducts a lot of top-secret research at its famous 'Skunkworks.' And its profitability is unusually high, with an 83% return on equity in the past 12 months. On the downside, it carries a heavy dollop of debt. Lockheed shares sell for just under 20 times earnings. Disclosure: I own Dassault, Babcock, General Dynamics and BAE Systems personally and for most of my clients.
The Sun
2 days ago
- Business
- The Sun
PM Anwar to meet Italian industry leaders in Rome for economic talks
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim is scheduled to meet top executives from 36 Italian companies, including global giants such as Leonardo SpA, STMicroelectronics, and Ferrero, during his working visit to Rome. The discussions will take place at the Malaysia-Italy Economic Partnership Roundtable on July 2, as confirmed by Malaysian Ambassador to Italy, Datuk Zahid Rastam. The roundtable will also feature Malaysian companies accompanying Anwar, alongside Italian firms seeking deeper collaboration with Malaysia. Leonardo SpA operates in aerospace and defence, STMicroelectronics is a key semiconductor player, and Ferrero is a leading confectionery manufacturer—all with substantial operations in Malaysia. Zahid Rastam noted that Italian firms are keen to expand investments and partnerships in Malaysia, highlighting the country's strategic position in Southeast Asia. Italy, the EU's third-largest economy, contributes 12 per cent of the bloc's GDP, making it a crucial partner for Malaysia. Beyond business discussions, Anwar will hold talks with Italian Prime Minister Giorgia Meloni on bilateral cooperation in trade, investment, defence, agro-commodity, and digital economy. The Malaysia-EU Free Trade Agreement (MEUFTA) will also be a key agenda item. The first round of MEUFTA negotiations is set for June 30 to July 4, 2025, in Brussels, with a target conclusion by 2026. The EU remains Malaysia's fourth-largest trading partner, accounting for 9.5 per cent of total trade in 2023.
Malay Mail
2 days ago
- Business
- Malay Mail
PM Anwar to meet captains of industry from 36 Italian companies, including MNCs in Rome
KUALA LUMPUR, June 30 — Prime Minister Datuk Seri Anwar Ibrahim is set to meet captains of industry from 36 Italian firms, including multinational companies such as Leonardo SpA, STMicroelectronics and Ferrero during his maiden working visit to Rome, Italy on July 1. The meeting will take place during the Malaysia-Italy Economic Partnership Roundtable on July 2, Malaysian Ambassador to Italy, Datuk Zahid Rastam said today. 'In addition to the 36 Italian companies and several industry associations here, Malaysian companies accompanying the Prime Minister will also be in attendance,' he said in a virtual briefing here today ahead of the three-day working visit. Leonardo specialises in aerospace, defence and security, STMicroelectronics is a semiconductor company, while Ferrero is one of the world's largest sweet-packaged food companies. All three MNCs have a significant presence in Malaysia. 'Additionally, there will be Italian companies looking to further engage, invest, and explore opportunities for collaboration with Malaysia,' Zahid Rastam said. Italy is the third-largest national economy in the European Union (EU) and the world's eighth-largest by gross domestic product (GDP). Its economy accounts for about 12 per cent of the EU's GDP. Besides the business meeting, Anwar, who is also the Finance Minister, is also set to discuss bilateral cooperation on trade, investment, defence, agro-commodity and digital economy with his counterpart Giorgia Meloni. Anwar's visit is at the invitation of Meloni. They are also expected to touch on the Malaysia-EU Free Trade Agreement (MEUFTA). The first round of negotiations for a new and comprehensive FTA between the EU and Malaysia has been scheduled in Brussels, Belgium, from June 30 to July 4, 2025. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said in January that MEUFTA was expected to be concluded in 2026. The EU is Malaysia's fourth-largest trading partner after China, Singapore and the United States. It accounted for 9.5 per cent of Malaysia's total trade in goods in 2023.
