DRS (100% controlled by Leonardo) has signed a contract with the US Air Force to build systems for combat training against electronic warfare threats; the contract is worth $ 950mn (in practice 30% of the order collection of one year) and will be spread over 5 years (approximately 7% of the annual turnover).
We believe that this contract was part of the soft backlog of DRS (programs for which DRS is the sole supplier or has a high probability of signing) – underlines Equita Sim – which in the latest presentations was indicated over 10 billion euros without indicating the timing for the transformation in order. This contract could help the listing of DRS which some press sources at the beginning of October indicated as a possible event between the end of October and the beginning of November. In Piazza Affari at the moment the Leonardo stock marks -0.12% to 6.54 euros.