02:11 pm - Friday
Finmeccanica. Performance by sector: AgustaWestland
Rome, Italy - Revenues: EUR 2,499 million (+14%); adjusted EBITA: EUR 237 million (+2%)
(WAPA) - "Revenues were EUR 2,499 million, a rise of EUR 311 million (+14%) versus EUR 2,188 million in the same period of 2008. The increase was mainly driven by the Company’s helicopter operations, where production volumes were up 17% on the 2008 level. Specifically, the volumes of the AW-139 and the AW-101 increased with the programmes for Algeria and Japan, and the MK3A UK entering the full production phase. Product support also registered good performance, with a rise of 6%, partly on the back of IOS contracts with the British MoD.
Adjusted EBITA totalled EUR 237 million, an increase of EUR 4 million (+2%) on the same period of 2008 (EUR 233 million). The figure was however negatively affected by exchange rate differences arising from the conversion of non-euro balance sheets, as well as by reduced profitability due to the effect of changes in the revenue mix. As a result, the EBIT margin was 9.5%, slightly lower than the 10.6% recorded at 30 September 2008.
New orders were EUR 2,747 million, a decrease of EUR 651 million compared to the figure of EUR 3,398 million in the same period of 2008 (-19%). Helicopters (new aircraft and upgrades) accounted for 54% of new orders, with product support (spare parts and services) and engineering accounting for the remaining 46%. The most important contracts included 12 Lynx Mk 9 helicopters for the British Ministry of Defence; integrated operational support for the British army’s 67 Apache AH-MK1 helicopters; the order from the General Directorate of Air Armaments (ARMAEREO) to provide the Italian army with 16 ICH-47F Chinook helicopters and the related logistics support, with an option for a further four units; orders for a total of 74 helicopters in the civil government segment for various countries including Cyprus, Malaysia, Turkey, Denmark, Brazil and Italy.
The order backlog was EUR 10,318 million, in line with the figure at 31 December 2008 (EUR 10,481 million) and sufficient to guarantee around three years of production. The order backlog comprises helicopters (73%), product support (23%), half of which is accounted for by the IOS contracts with the British Ministry of Defence, and engineering (4%).
Headcount was 10,350 at 30 September 2009, an increase of 61 on the figure of 10,289 recorded at 31 December 2008, due to normal staff turnover".
(Avionews)
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Direttore Clara Moschini