Helicopters, AgustaWestland closes 2013 with positive results –VIDEO
Finmeccanica has published last year's financial performance: the order of 16 AW101 for the Norwegian Armed Forces led to the economic growth of the British-Italian manufacturer
AgustaWestland closes 2013 with globally positive results. In the past days, Finmeccanica, the company that owns AgustaWestland, published the financial performance of the anglo-Italian manufacturing company. Despite the renown contractual and legal complications linked to the contract agreement with India, the report states that 2013 was a positive year from both the market and commercial point of view.
In the photogallery: AW101 and AW159, the best of 2013
ORDERS
The greatest growth concerned the orders, which increased up to 9.2% on an annual basis (4.383 million euros, in comparison with 4.013 million euros in 2012). This result was driven by the military agreements. Firstly, the Norwegian Air Force ordered 16 AW101 helicopters in All Weather Search&Rescue configuration: the order was worth 1.15 billion euros. Then, AgustaWestland signed the first export contract for the new AW159 Lynx Wildcat with the Korean Navy. The Asian giant will receive 8 updated Super Lynx helicopters.
EARNINGS
In 2013, AgustaWestland’s profits suffered a setback: 4.076 million euros (-3.9%). This is largely linked to the freezing of the AW101 deal with India, which was partially amortized thanks to an increase of the deliveries (+60% in comparison with 2012). This was a crucial result also for the boost of the EBITA (Earnings Before Interests, Taxes and Amortization), which reached 562 million euros (+18.8%).
In the video: AW189 AgustaWestland's medium helicopter
2014 OUTLOOK
In 2014, AgustaWestland is expecting another growth in both earnings and activity volumes. The boost should be supported by the contract with the British Ministry of Defense for the renewal, inspection and upgrading of the fleet of Apache combat helicopters and AW101 multipurpose helicopters.
There are also great expectations for the new AW169 and AW189, which will enter service in the next months. Another important contribution came from both the orders signed at Hai Heli Expo 2014, worth 260 million euros, and from the impact of the new SW109 Trekker on the market (the helicopter was exhibited right during the American event).
