Patria Group’s result for the first three quarters of the year improved significantly on the previous year. Net sales totalled EUR 349.1 million, compared to EUR 291.8 million in the previous year (+19.6%). Operating profit increased to EUR 53.0 million from EUR 26.4 million in 2015. Equity ratio was 56.1% (46.8%) and net gearing 19.2% (30.5%). The value of the order book fell to EUR 918.0 million from EUR 1,056.2 million a year earlier. Increase in net sales and operating profit is mainly due to the UAE project in Land Business Unit.
Third quarter of the 2016
In July the AMV35 vehicle offered by BAE Systems Australia and Patria was selected to take part in the 12-month Risk Mitigation Activity for the Australian Army’s Land 400 Phase 2 combat reconnaissance vehicle program.
In September Patria presented several variants of the AMV vehicle in the DVD2016 event in the UK.
Patria Pilot Training and ASTCO Finland signed a partnership agreement on aviation security training that meets mandatory EASA requirements.
Patria signed a contract on the upgrading of the avionics systems of two Border Guard Agusta/Bell 412 EP helicopters. This system upgrade comprises the integration of avionics and mission systems, patient stretchers, infrared camera (FLIR) and video data link.
Highlights after the reviewed period
In October Patria attended Helitech International event in Amsterdam, the largest helicopter exhibition in Europe.
Finnair and Patria Pilot Training signed an agreement for training of new commercial pilots. According to the agreement, Patria will run an MPL-training program (Multi-Crew Pilot License) for Finnair together with the Finnair Flight Academy.
Patria signed a contract with Airbus for the manufacture of Airbus A320 Vertical Tail Plane components. The agreement covers re-industrialization activities and manufacture of the A320 VTP Ribs during the lifespan of the aircraft programme.
Outlook for the rest of the year
The Group expects to see further business growth in the last quarter. Patria's key domestic customer, the Finnish Defence Forces, currently has strategically significant and exceptionally large projects at the tendering and analysis phase. These projects will be decisive for the future of Finland's defence industry. In terms of orders, development depends on whether certain large export projects, now at the tendering stage, are materialised.
For more information, please contact:
Ville Jaakonsalo, Chief Administration Officer, tel. +358 500 881 070, firstname.lastname@example.org
Birgitta Selonen, Vice President, Corporate Communications, tel. +358 40 869 2043, email@example.com
Patria is a trusted provider of defence, security and aviation life cycle support services and technology solutions. Besides Finland, the Group has operations in Sweden, Norway, Estonia, Poland, the United Arab Emirates, the United States and South Africa. Patria employs 2,800 professionals.