10-Mar-2011 4:28 PM
EADS returns to profit in 2010
European aerospace giant EADS, the parent of Airbus, reported a net profit of EUR553 million, reversing the EUR763 million net loss in 2009. Revenue rose 6.8%, to EUR45.7 billion, while the company's order book rose 15% to EUR448.5 billion. The manufacturer expects 2011 EBIT before one-off to remain stable compared to the 2010 level, at around EUR1.3 billion. Shares in EADS were 1.1% higher on Wednesday, on an mixed day of trading for aerospace companies.
EADS reported the following financial highlights for the 12 months ended 31-Dec-2010:
- Revenue: EUR45,752 million, +6.8% year-on-year;
- Airbus Commercial: EUR27,673 million, +4.9%;
- Profit before tax: EUR1187 million, compared to a loss of EUR380 million in p-c-p;
- Airbus Commercial: EUR264 million, -27.3%;
- Net profit: EUR553 million, compared to a loss of EUR763 million in p-c-p;
- Total order book*: EUR448.5 billion, +15%;
- Aircraft deliveries:
- Airbus Commercial: 510, +2.4%;
- Total assets: EUR83,187 million, +3.5%;
- Total liabilities: EUR74,251 million, +6.2%;
- 2011 forecast:
- Revenue: Above 2010 level;
- EBIT**: EUR1300 million, stable;
- Aircraft deliveries: 520 to 530 commercial aircraft.
*Commercial order book based on list price
**Pre-goodwill impairment and exceptional and before one-off items
Selected Aerospace daily share price movements (% change): 09-Mar-2011
