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AgustaWestland Delivered 100 Helos In 2002

During 2002 AgustaWestland, the Anglo-Italian helicopter company jointly owned by Finmeccanica SpA of Italy and GKN plc of the UK, firmly established itself as the leading player in the world helicopter market with revenues of EUR 2,722 million.

Pre-exceptional EBIT increased by EUR 70 million and, as a percentage of revenue, delivered an 11.0% margin compared with 9.2% in 2001. This improvement in performance was based on increased volumes of high value-added activity and rationalisation and integration benefits of the Italian and UK operations.

Orders booked in 2002 amounted to EUR 2,536 million (+7%), partly due to increased customer support activity. The outstanding order book at 31 December 2002 amounted to EUR 7,146 million. This represented approximately three years of revenue.

In 2002 AgustaWestland delivered 100 aircraft of which 45 were for civil customers. At the end of 2002, the total workforce stood at 8,942 employees.

During 2002, several major contracts were also confirmed, including EH101 for combat search and rescue and fishery protection, Super Lynx 300, and NH90. AgustaWestland’s commercial success in the year also included the record-selling A109 Power in all its civil and government variants and the A119 Koala. The AB139 was nominated by the US Coast Guard as its vertical takeoff and recovery solution for the Deepwater programme.

AgustaWestland continues to invest in innovative products such as the BA609 tiltrotor, that offers customers unrivalled capabilities. The Company is also increasing its global customer support network of service stations and is delivering modern and tailored training solutions ranging from flight simulators to total training systems.

(Note: Figures in this statement are extracted from the audited consolidated accounts of AgustaWestland NV which are prepared under Dutch Accounting Standards.)

-ends- AgustaWestland Records Excellent Results For 2002