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Investing.com -- Shares in Italian rocket maker Avio (BIT:AVI) jumped 6% on Monday, lifting its stunning 2025 rally to more than 200%.
The share price jump comes days after Avio said it plans to raise up to €400 million ($469.5 million) in fresh equity from shareholders to support expansion in its satellite-launch operations.
Last week, the company’s board unanimously approved a new 10-year strategy and will present the proposed capital increase at a shareholder meeting on Oct. 23. Under the plan, Avio is aiming for average annual revenue growth of 10% and a 15% increase in core profit.
“The acceleration of growth opportunities in the space and defense markets in Europe and the United States will require the strengthening of the Company’s production capacity, both in Italy and in the United States, together with greater vertical integration,” the company said in a statement.
Avio, which serves as both provider and operator of the Vega-C launcher, intends to step up the frequency of its launches, continue work on the Vega E program, and maintain propellant supply for Ariane rockets.
In defense, the group is boosting investment in propulsion technologies and is building a new U.S. production site scheduled to open by late 2028.
The equity raise is expected to be completed before year-end and may be carried out in one or more tranches.
Avio also reported its results for the first half of 2025 last week. The company’s revenue jumped 30% year-on-year to €235 million, supported by higher Vega C production, P120 motor output for Ariane 6, and defense propulsion work.
It posted adjusted EBITDA of €11.4 million and adjusted EBIT at €1.4 million.
Order backlog stood at €1.67 billion, broadly unchanged from year-end 2024, with €180 million in new orders mainly tied to Vega launch services following the transfer of responsibility from Arianespace.
Avio confirmed its 2025 guidance announced in March.