Story ID: 336Finmeccania
Finmeccanica Improves Revenue Results
By: Mark Huber
Caption: Company estimates new orders of 190 helicopters and deliveries of 200.
Word Count: 381
Finmeccanica Helicopters posted improved revenues for the first nine months of 2015 compared to the same year ago period even as its order book slipped. For the first nine months of 2015 the company posted revenues of 3.212 billion, up from 3.036 billion for the same period year over year. However, orders dropped to 2.881 billion from 3.083 billion. Full year 2015 results are not yet available, but will be released with parent Finmeccanica's overall results in the middle of this month. 
  
Managing director Daniele Romiti blamed the decline on a combination of depressed energy prices and economic difficulties in selected economic regions. Romiti estimated new orders at 190 and deliveries at 200. “We’re in good shape for margins with returns in double digits,” Romiti said. “Our industrial setup is delivering efficiencies and cost reductions.” 
  
Romiti said the company was looking to expand its customer service and training operations, noting that 35 percent of revenues currently come from that source. He also noted that the company was bringing 10 new simulators on line in 2015 and 2016 and that simulator hours flown had increased to 38,873, a 21 percent jump from 2014, and that 9,457 students had been trained through 900 courses at four training centers in three countries. 
  
Romiti said Finmeccanica is stressing its lighter product offerings here at Heli-Expo, particularly the new AW169, Trekker, and 009. 
  
Yesterday Finmeccanica signed a memorandum of understanding with AAL USA of Hunstville, Ala., to complete the new Finmeccanica 009 light single. While a firm price for the helicopter has not been set, Finmeccanica executives said it would be in the $1.2 to $1.5 million range. FAA certification is targeted for June. The aircraft will be built in Poland and shipped to the U.S., and delivered out of Huntsville. 
  
Also yesterday, AW609 program manager Clive Scott revealed that the company knows the cause of the fatal crash of the second commercial tiltrotor prototype on October 30, but he did not disclose the information. He added that the third prototype, which will be used mainly for icing testing, will begin flying soon. A fourth prototype is under construction and will begin flying in 2017. Prototype 2 will not be replaced. Rather, the first prototype, that began flying in 2003, will be modified to make it more conformal for flight-testing purposes. Scott said certification remains on track for 2018.