AgustaWestland’s Revenues Up, but Orders Down
AgustaWestland parent company Finmeccanica on Friday disclosed its 2009 results, showing increased deliveries but slashed orders for the Anglo-Italian helicopter manufacturer. Revenues grew by 15 percent to €3.48 billion (about $4.7 billion) in 2009. This was influenced by robust deliveries of AW139 medium and AW101 heavy helicopters, as well as product support results, the company said. The pre-tax earning margin stagnated at 10.7 percent. Meanwhile, orders were down by 37 percent, to €3.21 billion ($4.4 billion). This happened despite 10-percent-higher demand for government and military rotorcraft, according to Finmeccanica, which expects the civil market to recover by 2012. AgustaWestland’s backlog is now valued at €9.79 billion ($13.3 billion), a 7-percent decline from a year ago, and its payroll stands at 10,343. Last year, AgustaWestland spent €328 million ($446 million) on research and development and plans to spend another €750 million ($1.02 billion) on R&D between this year and 2013. The bulk of it, €650 million ($884 million), will be shared between the BA609 Tiltrotor; the XX9, a 9,000-pound-class twin; and the military AW149.