Avio rewarded by the market after quarterly results above expectations
The company's top management also confirmed the 2026 guidance announced last March, an indication appreciated by analysts
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(Il Sole 24 Ore Radiocor) - Avio up well at Piazza Affari, boosted by its quarterly report announced on 12 May after the stock market closed. The company closed the January-March period with net revenues of €128.6m, up 19% year-on-year, and ebitda (reported) of €5.2m (+29.9%), representing a margin on revenues of 4.1% (3.7% a year ago). Adjusted ebitda improved by 18.7% to EUR 5.7 million. Operating profit was negative EUR 0.1 million (from EUR 0.9 million), but at adjusted level it was positive EUR 400 thousand (from EUR -0.1 million).
The results are better than the forecasts of the investment houses. The growth in revenues, Avio itself explained, is mainly due to the production activities of Vega C, the increase in the production of P120C/P160C engines for Ariane6, and growth in the defence sector. The order backlog at the end of March dropped by €49 million compared to December to €2.116 billion. New orders in the quarter were mainly related to development on the Vega family of launchers and the contract in the US for a solid-propellant engine for air defence.
The net financial position was 559.1 million (down 32.6 million from December). The company's top management has confirmed the 2026 guidance announced last March. This indication was appreciated by Intermonte's analysts, who therefore confirmed the 'Outperform' rating with a price target of EUR 42. For the experts, however, the current geopolitical context will continue to be supportive for the company.
