2020 RESULTS IN LINE WITH COMPANY GUIDANCE, BACKLOG AND CASH IMPROVED
VEGA TO LAUNCH AGAIN IN APRIL

9M 2020 RESULTS IN LINE WITH EXPECTATIONS, AFFECTED BY COVID-19
2020 GUIDANCE CONFIRMED

• Net Revenues: Euro 216.1 million (-20% compared to the corresponding first nine months of 2019)
• EBITDA Adjusted: Euro 23.1 million (-9%)
• EBITDA Reported: Euro 17.5 million (-26%)
• EBIT Adjusted: Euro 10.3 million (-24%)
• EBIT Reported: Euro 4.7 million (-60%)
• Net cash position: Euro 26.2 million (Euro -31.8 million compared to 31 December 2019 and in line with 30 June 2020)

BUSINESS RESILIENT ACROSS COVID-19
VEGA SUCCESSFULLY RETURNED TO FLIGHT

Highlights
• Maintained continuity of operations during COVID-19 lockdown
• Successfully returned Vega to flight with SSMS (53 satellites in a single mission)
• Further Vega and Ariane 5 missions before end 2020
• Vega C and Ariane 6 maiden flights expected by first half and 2021 year-end, respectively

• Net Revenues: Euro 368.7 million (-5% on 2018)
• Reported EBITDA:  Euro 42.6 million (unchanged on 2018)
• Reported EBIT: Euro 26.5 million (-7% on 2018)
• Net Profit: Euro 27 million (+5%

Vega return to fly in Q1 2020

Our growth trend continued in the first half of 2019, building on the Group’s 2018 results – stated Giulio Ranzo, Chief Executive Officer of Avio”.

The Board of Directors decided to assign the mandate to start the share buyback program to an independent financial intermediary, in agreement with the decision taken by the shareholders’ meeting held on the 29 of April 2019.

Growth of revenues, EBITDA and EBIT stable financial position

• Revenues: Euro 82.6 million (+10% on Q1 2018)
• EBITDA Reported: Euro 7.0 million (+15% on Q1 2018)
• EBIT Reported: Euro 3.1 million (+11% on Q1 2018)
• Net Financial Position: Euro 48.7 million, in line with 31 December 2018 (+14% if compared on like-for-like basis)

The Board of Directors of Avio S.p.A. today reviewed and approved the Q1 2019 results.

Revenue, net profit and cash growth continues

Contract signed for the financing of additional euro 10 million with the European Investment Bank (EIB)

Rome, 16 January 2019 – Avio S.p.A., Italian company leader in the space propulsion sector, informs that today it has signed the contract for the financing of additional Euro 10 Million with the European Investment Bank (EIB).

Such financing adds up to the first Euro 40 Million loan issued by the EIB to Avio S.p.A. in October 2017, with the same economic conditions.

STRONG REVENUES, EBITDA AND EBIT GROWTH CONTINUES