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• • • • AVIO Q1 2021 HIGHLIGHTS VEGA SUCCESSFULLY RETURNED TO FLIGHT ROBUST BACKLOG AND CASH Order Backlog : Euro 727.9 million ( -1 % vs Dec. 20 ) Revenues : Euro 52.6 million ( -34 % ) EBITDA Reported : Euro 3.0 million ( -58 % ) EBITDA Adjusted : Euro 4.5 million ( -43 % ) • EBIT Reported : Euro -2.2 million • EBIT Adjusted : Euro -0.8 million . Net Cash Position : Euro 58.1 million ( -7 % vs Dec. 20 ) Colleferro ( Rome ) , 11 May 2021 – The Board of Directors of Avio S.p.A. today reviewed and approved the Q1 2021 results . Avio , a leading aerospace company listed on the STAR segment of the Italian Stock Exchange , reports revenues of Euro 52.6 million for the first quarter of 2021 , down 34.3 % on the same period of the previous year . The slowdown is mainly attributable to the intense effort required for the successful return to flight on April 29th as well as to persisting impact of COVID - 19 restrictions . Order Backlog of Euro 727.9 million is in line with 2020 Year - end thanks to the new intake of the quarter confirming strong long term business prospects . Reported EBITDA of Euro 3.0 million lower by 58 % than Q1 2020 driven by slowdown in revenues and incorporating higher non - recurring costs for return to flight and Covid- 19. Adjusted EBITDA of Euro 4.5 million decreased 42 % on Q1 2020 . Reported EBIT negative for Euro -2.2 million , reflecting the increase of depreciation and amortisation related to Vega C and P120 start of production . Adjusted EBIT negative for Euro -0.8 million excluding non - recurring costs . The Net Cash Position is Euro +58.1 million substantially in line with 2020 Year - end ( Euro 62.6 million ) demonstrating robustness of company's financial structure . On April 29th , Vega VV18 return to flight mission was successfully completed . The European launcher , designed , developed and built by Avio , has perfectly placed in orbit the new generation French satellite Pléiades 3 Neo on behalf of Airbus Defence and Space along with 5 secondary payloads embarked on a modified version of the SSMS payload adapter successfully launched with the VV16 mission in September 2020. Among these , the Norwegian Norsat 3 and 4 cubesat for the operators Eutelsat , 1 E - MARKET SDIR CERTIFIED