MBDA Anticipates Decrease in Orders and Revenue in Italy This Year Following Record Highs in 2023
The Italian branch of European missile manufacturer MBDA anticipates a slight decline in both new contracts and revenue for the current year, following a record-setting performance in 2023, according to the company’s managing director, Giovanni Soccodato.
In 2023, MBDA’s Italian division experienced a notable increase in its order portfolio, which surged by over 40% to reach 4.5 billion euros ($4.87 billion). Moreover, new contracts nearly doubled for the second consecutive year, soaring to 2.3 billion euros from 1.18 billion euros in the previous year.
Soccodato acknowledged the difficulty of replicating the unprecedented success of 2023 but emphasized that the company still anticipates significant order volumes and revenues for the current year. He attributed the expected decrease to the exceptional heights achieved in the previous year but assured that the company remains poised for meaningful growth.
With escalating geopolitical tensions worldwide, the global military spending is on the rise, creating a favorable market outlook for missile and missile defense systems. Soccodato highlighted the importance of leveraging the firm’s strong foundation to prepare for future developments, indicating that forthcoming contracts would focus on products crucial for the company’s future trajectory.
MBDA is jointly owned by France’s Airbus and Britain’s BAE Systems, each holding a 37.5% stake, with the remaining 25% owned by Italy’s Leonardo. Recognized as a successful model, MBDA has been cited as an example for fostering pan-European alliances in the defense sector, facilitating more efficient and cohesive utilization of military budgets.
Earlier this month, MBDA reported impressive financial figures for 2023, with consortium-wide revenue totaling 4.5 billion euros and new orders reaching a substantial 9.9 billion euros. The company’s total order portfolio now stands at an impressive 28 billion euros, indicating robust growth and a promising outlook for the future.
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