Avio (AVIO) Investor Presentation summary

Strategic positioning and market opportunity

• Positioned as a leading player in EU and US space launch and defense propulsion, with demand far exceeding current supply.

• Long-term relationships with sovereign and blue-chip customers, including US Armed Forces, MBDA, Raytheon, and Airbus.

• Addressing evolving needs in US and EU space and defense systems, leveraging 60+ years of experience and proprietary technology.

• Benefiting from a global space and defense super-cycle, with significant supply-demand imbalances in missile propulsion.

• Recent US customer agreements are rapidly transitioning from development to production, with new contracts and partnerships.

Product portfolio and technological capabilities

• Offers state-of-the-art technologies in solid, cryogenic, and orbital propulsion for space and defense applications.

• Main products include solid rocket motors for Ariane and Vega launchers, and defense missiles such as CAMM-ER and ASTER 30.

• Over 100,000 SRMs produced to date, with a track record of successful deliveries and continuous innovation.

• Advanced upper stage propulsion and proprietary LOX-CH technology for next-generation launch systems.

• 60 years of experience in both space and defense propulsion, with a legacy of major European launch programs.

Financial performance and growth outlook

• Revenues increased by 30% in 1H 2025, driven by Vega C production, Ariane 6 P120 motors, and defense propulsion.

• EBITDA reported at €10.0m for 1H 2025, up 23.7% year-on-year, with adjusted EBITDA up 36.7%.

• FY 2025 guidance: revenues €450–480m, EBITDA €27–33m, net income €7–10m, and backlog €1.7–1.8bn.

• Long-term revenue target: >€1.0bn by 2029–2031 and >€1.2bn by 2035, with >10% CAGR.

• EBITDA expected to grow at >20% CAGR, with 80%+ of growth beyond 2028 driven by US expansion.