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Vizada Acquisition Fuels Astrium Growth in 2012
PARIS — Europe’s Astrium space hardware and services company on Feb. 27 reported a 17 percent increase in revenue for 2012 from 2011 and an equivalent increase in pretax profit, with backlog declining by 13.6 percent as a result of satellite and rocket deliveries made during the year.
Astrium’s corporate parent, EADS, presented the full company’s results in Berlin and said Astrium’s efficiency drive, known as Agile, continues to pay off as evidenced by the fact that the company maintained its profitability with the increased revenue. The results were diminished by higher research and development investment and integration charges related to the acquisition of satellite solutions provider Vizada, EADS said.
Astrium reported revenue of 5.82 billion euros ($7.7 billion) and earnings before interest and taxes of 312 million euros, or 5.4 percent of revenue, the same margin as in 2011.
Astrium generated new orders of nearly 3.8 billion euros in 2012, and as of Dec. 31 its backlog stood at 12.7 billion euros, down 13.6 percent from a year ago.
Astrium Satellites delivered nine spacecraft to customers during the year, and the company’s Space Transportation division delivered seven heavy-lift Ariane 5 rockets for launch during the year. Astrium is prime contractor for the Ariane 5.
Astrium Space Transportation revenue for 2012 was 2.27 billion euros, up 4 percent from 2011. Astrium Satellites reported revenue of nearly 2.1 billion euros, up 9 percent from a year ago.
Astrium Services’ revenue of 1.45 billion euros was up 68 percent from 2011 as the first full-year effects of the Vizada acquisition were felt. Vizada accounted for about 500 million euros in revenue in 2012.