ITP Aero 2021 Results

Bizkaia, News

In 2021, ITP Aero reported revenues of €915 million and a net profit of €67 million. This includes both the ITP Aero business and the full year recurring business generated by the Hucknall (UK) plant acquired during 2021

ITP Aero is beginning its recovery from the impact of COVID-19 on commercial aviation, thanks to a more favourable macro environment and the specific action plans put in place. ITP Aero’s defence business remains stable and on a positive trend.

2021 was an important year for ITP Aero on its road to recovery. During the year, the company integrated the Hucknall facilities, which has boosted its position as a leading global aeronautical company thanks to its technology, complementary product portfolio and access to new business opportunities. ITP Aero closed 2021 with a total workforce of 4,175 employees, including Hucknall employees.

During 2021, ITP Aero achieved significant technology milestones, including progress on the Rolls-Royce UltraFan demonstrator engine programme (delivering the key 3D-printed Tail Bearing House TBH). Also during the year, ITP Aero signed contracts with Pratt & Whitney Canada and continued to make progress on the FCAS programme, as the leader of the engine technology pillar in Spain (it has joined MTU and Safran as the main partner, allowing for an equal division of work between France, Germany and Spain). ITP Aero has also advanced on its path towards more sustainable aviation by becoming a founding member of the EU Clean Aviation initiative. The company also joined the UN Race to Zero initiative, committing to becoming carbon neutral by 2050.



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