(Finance) – Aviation closed the first half of 2023 with revenues of 157.7 million euros, up 17.7% compared to the same period of the previous year. The increase is mainly attributable to the major development activities within the National Recovery and Resilience Plan (PNRR) and at production activities in the tactical propulsion sector.
Order portfolio equal to 1,372.6 million eurosa sharp increase compared to the figure at the end of 2022 (+35.4%), which represents the highest result in history of Avio for the second consecutive quarter.
From an income point of view, theEBITDA Reported is equal to euro 5.2 milliongrowing strongly compared to the first half of 2022, mainly due to the positive effect of development projects and the reduction in energy costs. Adjusted EBITDA of 10.5 million it is also growing strongly compared to the first half of 2022. Reported and Adjusted EBIT reflect the same EBITDA improvement dynamics. Result for the period equal to -3.9 million euros, but an improvement of 3.8 million compared to the first half of 2022.
There net cash position is equal to +102.2 million euros (74.4 million euros in December 2022 and 40.9 million euros in June 2022) thanks mainly to the advances collected relating to development projects in the PNRR area.
Guidance 2023 confirmed: order book at 1,150-1,250 million euros; revenues of 330-350 million euros, Reported EBITDA of 19-25 million euros and net profit of 2-6 million euros.
Avio also indicated that the date of the next Vega launch is scheduled for October 4, 2023with a second flight planned for
there spring of 2024while the return to flight of Vega C is currently being evaluated, awaiting the results of the Independent Investigation Commission for the analysis of the causes of the anomaly of the static ignition test of the Zefiro 40 engine (second stage of the Vega C launcher ).