Missile maker MBDA off to a good start in 2022 after strong 2021 – executive
2022.04.22 15:32
FILE PHOTO: The logo of MBDA Missile Systems is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, October 23, 2018. REUTERS/Benoit Tessier
ROME (Reuters) – European missile maker MBDA has made a good start to 2022 after record results last year, Executive Group Director for Sales & Business Development Lorenzo Mariani said on Friday.
“It’s great news, both in terms of orders and in terms of cash,” Mariani told reporters.
He added that important contracts been closed in the first months of the year and others, signed with Greece at the end of 2021, had taken effect.
“These (deals) have given us important advance payments”.
The missile group is owned by France’s Airbus and Britain’s BAE Systems (OTC:BAESF), both with a 37.5% stake, and by Italy’s Leonardo, with a 25% stake.
Mariani said that the group has not suffered any disruption to production from the conflict in Ukraine, but noted that should the war continue there could be consequences from the increases in energy costs and the price and availability of raw materials.
“We have always had good supplies, to date there are no critical issues, but the situation would not be sustainable forever,” he said.
MBDA is unable to comment on the impact of the conflict on demand, citing confidentiality linked to military operations.
The consortium posted 4.2 billion euros ($4.54 billion) in revenue last year and new orders were worth 5.12 billion euros.
MBDA has some 16% of the global missile market, in terms of orders, but is the largest player in Europe, with a 43% share, a company slide showed.
Its largest rivals are U.S. defence giant Lockheed Martin (NYSE:LMT) and Raytheon Technologies (NYSE:RTX) Corp
Mariani, who is also the Managing Director of MBDA in Italy, said the first quarter in the country “confirmed a positive trend, with revenues and cash above expectations, and deliveries ahead of schedule”.
The Italian unit aims to reach 1 billion euros in revenues this year, from 685 million euros last year.
($1 = 0.9257 euros)
