Wednesday, November 4, 2015
Foreign Exchange Boosts AgustaWestland Performance
A strong U.S. dollar and British pound boosted AgustaWestland’s financial performance through nine months of this year, contributing to a 5.8% increase in revenue compared to the same period in 2014, despite a 6.6% decrease in new orders. The manufacturer’s parent, Finmeccanica, reported both its third-quarter and nine-month results earlier today. It noted that, excluding the foreign-exchange gains, AgustaWestland’s 3Q2015 revenues to date “were substantially in line with the same period in the previous year.” That quarter’s results also were aided by the Russian company RN-Aircraft’s order for 10 AW189s. AgustaWestland’s profitability remains at about 12%, the parent said.