[SatNews] EADS (stock exchange symbol: EAD) has released their results for the first quarter 2011.
Based positive momentum, Airbus is analyzing a further increase in its single aisle production rate which is currently scheduled to increase to 40 aircraft per month by Q1 2012. A decision is expected shortly. In the first three months of 2011, the order intake(4) amounted to 6.3 billion euros. EADS’ order book of more than 422 billion euros provides a solid platform for future deliveries. First quarter earnings reflect the usual seasonality pattern in our institutional businesses. Revenues amounted to 9.9 billion euros. The EBIT* before one-off of around € 230 million benefited from good underlying performance on legacy programmes and favorable phasing of costs at Airbus Commercial.
The reported EBIT* amounted to 192 million euors. At 12.2 billion euros, thanks to strong cash-flow management in the first quarter, the Net Cash position remains a key asset to foster future growth. The impacts from events in Japan and North Africa on the commercial aircraft market are expected to be of a temporary nature. These developments are being actively managed, while budget pressures in institutional markets, helicopters and defense and the currency volatility are being monitored.
”Our first quarter financial results reflect a good start to 2011. The early market success of the A320neo validates the significant prospects we envisage for this programme and the acquisition of Vector Aerospace in Canada is a major step forward in expanding our services offering. We also signed the A400M contract amendment, which provides a solid base to further advance this key programme”, said Louis Gallois, CEO of EADS. “While advancing with the A350 XWB through achieving several critical milestones, this decisive program continues to require our closest attention.” In the first quarter, EADS’ revenues increased 10 percent to 9.9 billion euros (Q1 2010: 9.0 billion euros). This growth is driven primarily by mix effects at Airbus Commercial and Astrium. Deliveries remained at a high level with 119 aircraft at Airbus Commercial, 81 helicopters at Eurocopter and the 42nd consecutive successful Ariane 5 launch. In the first quarter, Airbus Military recorded revenues for the A400M programme of 165 million euros, based on milestones. Series production has started and civil certification is planned for 2011. On 7 April 2011, the Customer Nations and EADS concluded the A400M contract amendment negotiations. The contract amendment implements the changes which were agreed in principle by the Customer Nations and EADS on 5 March 2010. To read the entire financial report, access this direct link.
