EADS, the parent company of Airbus, has posted an increase of 14% in first half revenue to €24.9bn. Order intake in the first six months reached € 28.2 billion driven by solid order activity at Eurocopter, Astrium, Cassidian and Airbus Military and ongoing commercial momentum at Airbus.
At the end of June, EADS’ order book stood at a record level of €551.7 billion providing stability and visibility in the current macro environment.
The EBIT* amounted to € 1.1 billion, significantly above the 2011 level. The Net Cash position amounted to € 9.7 billion.
“The Group performed well in the first six months and our financial results demonstrate steady momentum. The new management is united in pursuing improved profitability through a clear focus on programme execution. Another focus of our efforts is to further integrate and globalise EADS. One important step into this direction is our decision to build a Final Assembly Line for
Airbus aircraft in the US”, said Tom Enders, CEO of EADS. “Our key programmes, particularly at Airbus, continue to command our utmost attention. On A350 especially, maturity of sections delivered to the final assembly is of key importance to us as we prepare for a robust production ramp-up.”
EADS announced that the A380 wing rib technical fix is “under development” and for the A380s already delivered, “the total charges recorded in the first half of 2012 amounted to €181 million, of which €23 million were booked in the second quarter.”
EADS takes a bullish view of the rest of the year: “The Group expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruption due to the current euro crisis.”
In 2012, Airbus should deliver around 580 commercial aircraft, including
30 targeted A380 deliveries.
Gross orders should be above the number of deliveries, in the range of
600 to 650 aircraft.
Based on an assumption of € 1 = $ 1.35, EADS 2012 revenues should
continue to grow at around 10 percent.