EADS reports better than expected results

EADS reported better than expected nine-month results. In the first nine months of 2011, the order intake reached €93.9bn. EADS’ order book stood at a record level of €503bn. Revenues amounted to €32.7bn. The EBIT before one-off of around €1.1bn was mainly driven by operational improvement from Eurocopter and Airbus commercial activities as well as some favourable phasing in Airbus and in Headquarters. The reported EBIT amounted to €885m. Cash-flow generation remained strong and led to a net cash position of €11.4bn after acquisitions. Net income more than doubled to €421m (9m 2010: €198m). The improvement is driven by the net income before one-off, which increased to €565m (9m 2010: €304m) thanks to better operational earnings.