Leonardo had declined orders
The Italian company Leonardo (among other things produces helicopters mark AgustaWestland) announced declining orders for helicopter production in 2016 g. Despite an increase in the number of helicopters ordered (from 170 to 176 cars), their cost decreased by 4.4% compared to 2015 and totaled 4.03 billion dollars.
A decrease in the results observed for other major indicators of Leonardo. So, the total portfolio of orders for helicopter equipment decreased by 9.3% to 11.48 billion dollars. Last year, the company increased the number of helicopters delivered to 174 cars against 167 a year earlier. However, the amount of revenue from the sale of this equipment decreased by 18.8% and amounted to 3.93 billion dollars. Total revenue also dropped by the Italian manufacturer of 7.6% compared to 2015 — to 12.9 billion dollars.
As noticed by Leonardo, the decline in orders for helicopters associated with weak demand in the civil aviation market, particularly in the oil and gas industry. “Delays and commercial difficulties during 2016 g. influenced the production of helicopters Agusta AW119, AW189 and AW139. At the same time, the company began production of the new helicopter AW169. These factors led to a decline in economic output while retaining excellent profitability, “Leonardo said.
The company said that production in 2017, will be expected to match the previous year. It is also planned to further increase the profitability of the manufacturer in 2017 and reduction in the level of net debt, which amounted to nearly 3.08 billion dollars. for 2016 g.
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Revenue fell almost Helicopters Leonardo 20%
Halfway through the 2016 g. revenue Leonardo Helicopters (formerly AgustaWestland), the helicopter unit of the Italian company Leonardo (formerly Finmeccanica), decreased by 19.2%, amounting to 1.708 billion euros, the corresponding report Leonardo. During the same period, operating profit (EBIT) decreased by 22.3% to 202 million euros.
One of the main reasons for the worsening of the financial position of vertoletostroitelja indicates a stagnation in oil and gas segment, which is an important customer helicopter. In addition, Leonardo Helicopters told about the difficulties that the company can not ramp up production of helicopters scheduled to AW169 level of AgustaWestland. Also for Agusta AW119 sales. What the complexities involved, the manufacturer does not specify.
The total cost of helicopters ordered from Leonardo Helicopters for the first half of 2011, 2016 reached 958 million euros — 57.6% lower than a year earlier. For the year the cost of pending orders decreased by 12.9% to 10.209 billion euros.
However, the manufacturer relied on relatively big contract, to be signed in the second half of the year with government structures.