AgustaWestland’s Deliveries Up, Orders Down for Last Year

 - March 30, 2010, 11:11 AM

AgustaWestland’s Deliveries Up, Orders Down for Last Year
AgustaWestland parent company Finmeccanica last month disclosed its 2009 results, showing increased deliveries but fewer orders. Revenues grew by 15 percent, to ?3.48 billion (about $4.7 billion) last year. The pre-tax earning margin stagnated, at 10.7 percent. Meanwhile, orders fell by 37 percent, to ?3.21 billion ($4.4 billion), despite a higher demand for government and military rotorcraft. The backlog is now valued at ?9.79 billion ($13.3 billion), a 7-percent decline. In 2009, AgustaWestland spent ?328 million ($446 million) in research and development. For the 2010-2012 period, R&D spending is anticipated to be a total ?750 million ($1.02 billion). The bulk of it, ?650 million ($884 million), will be shared among the BA609 Tiltrotor, the XX9 (a 9,000-pound-class twin) and the military AW149.

In India, AgustaWestland distributor Sharp Ocean last month signed a contract for two Grand New light twins and one AW119Ke single. They will be delivered to private customers and used to perform VIP transport missions, the manufacturer said.