13-Feb-2013 12:49 PM

Spirit Aerosystems Holdings reports mixed profit in 4Q2012

Spirit Aerosystems Holdings revenue up 17% - financial highlights:

  • Three months ended 31-Dec-2012:
    • Revenue: USD1426 million, +17% year-on-year;
      • Fuselage systems: USD680.2 million, +16.8%;
      • Propulsion systems: USD368.1 million, +14.4%;
      • Wing systems: USD375.3 million, +19.5%;
    • Segment operating profit: USD159.8 million, +13.9%;
      • Fuselage systems: USD92.5 million, -4.4%;
      • Propulsion system: USD47.9 million, -8.4%;
      • Wing systems: USD19.6 million, compared to a loss of USD8.3 million in p-c-p;
    • Operating profit: USD98 million, -4%;
    • Net profit: USD61 million, +2%;
  • 12 months ended 31-Dec-2012:
    • Revenue: USD5398 million, +11%;
      • Fuselage systems: USD2591 million, +6.8%;
      • Propulsion systems: USD1421 million, +16.3%;
      • Wing systems: USD1375 million, +13.9%;
    • Segment operating profit: USD113.8 million, -77.9%;
      • Fuselage systems: USD387.2 million, +21.6%;
      • Propulsion systems: USD64.7 million, -66.7%;
      • Wing systems: (USD339.1 million), compared to a profit of USD0.5 million in p-c-p;
    • Operating profit: USD92 million, -74%;
    • Net profit: USD35 million, -82%;
    • Total assets: USD5415 million, +7.4%;
    • Cash and cash equivalents: USD440.7 million, +148%;
  • 2013 forecast:
    • Revenue: USD5800 million to USD6000 million;
    • Earnings per share: USD1.90 to USD2.10;
    • Cash flow from operations: USD50 million to USD350 million;
    • Capital expenditure: USD400 million. [more - original PR]

Spirit Aerosystems: “Spirit revenue guidance for the full-year 2013 remains unchanged and is expected to be between USD5.8 – USD6.0 billion based on Boeing’s 2013 delivery guidance of 635 to 645 aircraft; expected B787 ship set deliveries; expected Airbus deliveries in 2013 of approximately 600 aircraft; internal Spirit forecasts for other customer production activities; expected non-production revenues; and foreign exchange rates consistent with those in the second half of 2012.” Source: Company statement, 12-Feb-2013.

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