The profitability of turboprop maker ATR continues to improve year-on-year. Although it still ended with an operating loss of €-4.0 million in the first nine months, this is significantly better than €-25 million in the same period of 2021. The results are included in that of Leonardo, which owns a fifty percent share of ATR, as has Airbus. ATR improves operating result year-on-year.
The improvement of the operating result/EBITA is attributed to “improved profitability and the effects from contractual redefinitions made in the period.” ATR has been working on its profitability for some time now and improved EBITA from €-21 million to €-1 million in the first six months of this year. The Q3 result is €-3.0 million versus €-4.0 million last year.
Leonardo’s Aerostructures business delivered fourteen fuselages to ATR in Q3 compared to ten last year. But aircraft deliveries to customers were lower in the third quarter: ten compared to sixteen in 2021. Overall, Leonardo repeated that ATR is recovering faster than expected and will be leveraging its 2021 results when it reported an EBITA of €-24 million.
In the first nine months, Leonardo’s Aerostructures unit delivered sixteen fuselage sections and nine stabilizers to Boeing for the 787, which compares to 32 and 16 respectively last year. However, it didn’t receive new orders from Boeing in Q3, nor from ATR, but benefitted from higher orders from Airbus for the A220 and A320neo family programs and for the Euromale drone program of Airbus, Leonardo, and Dassault.
Aerostructures reported €351 million in revenues compared to €405 million between January-September 2021. EBITA was €-134 million versus €-125 million. It won €342 million in new orders, up from €299 million last year. CEO Alessandro Profumo said that “we are seeing a gradual recovery in civil Aerostructures. We continue to manage the impact of pressures from inflation, supply chain and other challenges of the external environment.”
