EADS achieved solid financial results in the first half of 2012, exceeding expectations. Order intake in the first six months reached €28.2bn driven by solid order activity at Eurocopter, Astrium, Cassidian and Airbus Military and ongoing commercial momentum at Airbus. At the end of June, EADS’ order book stood at a record level of €551.7bn providing stability and visibility in the current macro environment. Revenues amounted to €24.9bn. The EBIT before one-off of around €1.4bn benefited from strong underlying performance. The reported EBIT increased by 91% to € 1,078m (H1 2011: €563m), driven by the improvement of the EBIT before one-off. The Net Cash position amounted to €9.7bn. Net income rose significantly to € 594m (H1 2011: €109m). The net income before one-off increased to €814m (H1 2011: €389m) in line with the strong underlying performance.
Airbus consolidated revenues increased by 13% to €17,246m (H1 2011: €15,312m). The Airbus consolidated EBIT rose by 174% to €553m (H1 2011: €202m). Airbus Commercial revenues amounted to €16,585m (H1 2011: €14,464m). Compared to one year ago Airbus Commercial revenues benefited from favourable volume and pricing effects. 278 deliveries were booked with revenue recognition compared to the 279 physical deliveries as 1 aircraft was placed on operating lease. Airbus Commercial EBIT before one-off increased to €830m (H1 2011: around €330m), benefiting from better operational performance including favourable volume and pricing, net of escalation. Airbus Commercial reported EBITalso improved significantly to €548m (H1 2011: €223m). It includes the charge booked for the A350 XWB as well as the update of the A380 wing rib feet provision. Airbus Commercial reported EBIT also improved significantly to €548m (H1 2011: €223m). It includes the charge booked for the A350 XWB as well as the update of the A380 wing rib feet provision.
EADS’ results of the first six months confirm the Group’s growth and improvement trend. These positive dynamics lead EADS to improve its 2012 guidance. In 2012, Airbus should deliver around 580 commercial aircraft, including 30 targeted A380 deliveries. Gross orders should be above the number of deliveries, in the range of 600 to 650 aircraft.
