Elif Aktug Long Leonardo: Sohn London Conference ~ market folly

Monday, December 12, 2016

Elif Aktug Long Leonardo: Sohn London Conference

We're posting notes from the Sohn London investment conference 2016.  Next up is Elif Aktug who is the Agora Fund Manager at Pictet Asset Management and pitched long Leonardo (BIT:LDO), formerly known as Finmeccanica.

Elif Aktug's Sohn London Conference Presentation

Long Leonardo (BIT: LDO)  

Leonardo has had a name change and used to be Finmeccanica.

The company is primarily a defence contractor manufacturing helicopters for military and civil use and global defence electronics. The transportation business has been sold off.

Margins have held up well between 11-12%. They have a strong order book. It is cheap compared to other defence contractors. Leonardo has a high-quality management team.

Be sure to check out the rest of the Sohn London conference presentations here.

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