EADS reports solid first quarter results

First quarter results for EADS show revenues and profitability driven by commercial aircraft deliveries, plus stability in defence revenues due to development programmes and long-term contracts.

Order intake rose to €49.9bn while the order book had reached €614.3bn at the end of the first quarter. The reported EBIT amounted to €596m with a net cash position of €9.2bn at the end of March 2013.

In a statement Tom Enders, EADS CEO said, ‘On the operational side, we had a rather good start into 2013 with improved revenues and profitability.

‘Management continues to focus on improving the bottom line performance in 2013 and beyond.’

During the quarter, EADS’ revenues increased nine per cent to €12.4bn, mainly reflecting the higher aircraft deliveries at Airbus Commercial. Revenues at Astrium and Cassidian were broadly stable compared to a year earlier. The group’s defence revenues totalled €2.3bn.