Deliveries Up, Orders Down at AW

Despite the gloomy economy, AgustaWestland disclosed sound financial figures for the first nine months of this year. Revenues totaled E2.5 billion, a 14-percent increase from last year, as a result of a 17-percent increase in production volumes. Deliveries to the governments of Algeria, Japan and the UK were notable contributors. Earnings (Ebitda) increased by 2 percent, to E237 million. New orders, however, fell by 19 percent to E2.7 billion. Helicopters (new aircraft and upgrades) accounted for 54 percent of revenues; product support and engineering comprised the remaining 46 percent. The backlog is said to be “sufficient to guarantee around three years of production.”