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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