(Finance) – Aviationa company listed on Euronext STAR Milan and active in the creation and development of space launchers and propulsion systems, has closed its first nine months of 2024 with a order book equal to 1,348 million euros (-0.8% compared to 31 December 2023). The acquisitions of the first nine months amounted to 267 million euros and mainly concerned contracts relating to propulsion activities in the defense sector, production activities of the P160 engine and the development of Vega E.
THE Net revenues they amounted to 277.9 million euros, up 24.6% thanks to production activities in the defense propulsion sector and technological development projects (Next Gen EU).
THE’Adjusted EBITDAequal to 15.9 million euros, up 12.3% thanks to the contribution of revenues and the decrease in energy costs. The reduction in non-recurring costs, mainly relating to the return to flight of Vega C, contributes to a significant increase in the Reported EBITDA (+38.5%) compared to 30 September 2023. The Reported EBIT and theAdjusted EBIT (3.1 million euros, +65%), up compared to 30 September 2023, reflect the same dynamics.
There Net Financial Position is equal to -0.1 million euros, a decrease of 76.3 million euros compared to 31 December 2023 following the expected transfer to sub-contractors and the seasonality of advances.
The path of return to flight of Vega C is in line with the scheduled timing: the objective is to bring Vega-C back into flight on 3 December 2024. The VV25 mission will place the Sentinel 1-C earth observation satellite in orbit, as part of the Copernicus program of the European Commission.
They continue the development of the partnership for the development of a solid propulsion motor manufacturing plant in the United States. The parties are currently evaluating several locations to select the best site for the plant. The evaluation period is expected to end in the first half of 2025
There Guidance for the year 2024 announced in March 2024 is confirmed.
“The return to flight of Vega C is approaching and, after the second test of the new Zefiro 40 engine concluded successfully, everything is ready for launch on December 3rd – declared theCEO Giulio Ranzo – We are excited to begin developing together with our new American partner our first solid propulsion motor manufacturing plant in the United States, to support the needs of our current and future customers, while also contributing to the country’s industrial and social base.”