12:15 am - Thursday
Finmeccanica. Performance by sector: helicopters by AW
Rome, Italy - Revenues: EUR 1,743 million (+5.9%); Adjusted EBITA: EUR 181 million (+11.7%)
(WAPA) - Helicopters
AgustaWestland. Polish company PZL-SWIDNIK, acquired by AW, was consolidated from 1 January 2010.
Revenues were EUR 1,743 million, up EUR 97 million (+5.9%), versus EUR 1,646 million in 1H09. The increase was due to ongoing work on current programmes, an increase in volumes on the AW-139 line and product support activities, which included IOS (integrated operational support) contracts with the UK Ministry of Defence.
Adjusted EBITA was EUR 181 million, up EUR 19 million (+11.7%), versus EUR 162 million in 1H09.
The improvement was due to growth in revenues and the different mix mentioned above. As a result, the adjusted EBITA margin was 10.4%, up from 9.8% at 30 June 2009.
New orders totalled EUR 2,491 million, up EUR 670 million (+36.8%), versus EUR 1,821 million in 1H09. Helicopters (new aircraft and upgrades) accounted for 63.1% of new orders, with product support (spare parts, upgrades and integrated support) accounting for the remaining 36.9%. The helicopters component showed a significant recovery compared with the first half of 2009, particularly in the civil/government segment.
Product support also recorded excellent results. The most important contracts in the military/government segment were: 12 AW-101 helicopters for the Indian Air Force; the upgrade of ten Lynx Mk9s for the UK Ministry of Defence; 30 helicopters for a client in the Southern Mediterranean area.
In the civil/government segment, orders for a total of 63 aircraft were received in the first half of 2010, from Era Group Inc., Esperia Aviation Services and the State of Trinidad and Tobago.
The order backlog was EUR 10,935 million, up EUR 1,149 million (+11.7%) versus EUR 9,786 million at 31 December 2009, and sufficient to guarantee around three years of production.
Headcount was 14,172, an increase of 3,829 from 10,343 at 31 December 2009. The increase was due to the consolidation of the PZL-SWIDNIK group (+4,311) offset by staff turnover in the period in part due to the restructuring of new subsidiary.
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Direttore Clara Moschini