EADS announces financial results for 2010

The European Aeronautic Defence and Space company (EADS) has announced the annual results for 2010, the company’s 10th anniversary year, in which order intake amounted to €83.1bn (£71.6bn) driven by improved momentum in commercial aviation.

EADS’ order book came to more than €448bn and revenues reached a new high at €45.8bn.

Profitability and cash performance were better than expected, with the earnings before income and taxes (EBIT) amounting to €1.2bn.

The net cash position of €11.9bn was also higher than anticipated, thanks to better cash management and higher order intake.