Avio (AVIO) Investor presentation summary

Strategic positioning and operations

• Focused on space launch and defense propulsion, with significant roles in Ariane and Vega launchers and air defense SRMs, achieving substantial growth in both sectors.

• State-of-the-art propulsion technologies span solid, cryogenic, and orbital systems, with over 60 years of experience in solid propulsion.

• Industrial footprint includes facilities in Italy, French Guyana, and the US, with a new SRM plant planned in Virginia.

• Shareholder base is diversified, with a large free float and no controlling shareholder; listed on Euronext STAR Milan.

Recent developments and growth initiatives

• Achieved record backlog above €2.0bn, driven by strong order intake in launch systems, space, and defense propulsion.

• Completed €400m capital increase to fund US expansion, including a new SRM facility targeting up to 700 tons annual production by 2028.

• Secured major contracts with US and international defense customers, and signed a $65m order in March 2026.

• Board of Directors refreshed for 2026-2028, ensuring managerial continuity and international expertise.

Financial performance and outlook

• Q1 2026 revenues rose 19% year-on-year to €128.5m, mainly from increased production in launch and defense propulsion.

• EBITDA reported at €5.2m in Q1 2026, up €1.2m despite higher US ramp-up costs; net financial position at €559.1m.

• FY2025 revenues grew 23% to €541.7m, with EBITDA up 25% and net income up 82% to €11.6m.

• FY2026 guidance projects revenues of €560–590m, EBITDA of €27–35m, and backlog to remain above €2.0bn.