EADS reports improved first quarter results 2013

EADS achieved a solid start to 2013, with first quarter revenues and profitability driven by commercial aircraft deliveries. Order intake rose sharply to €49.9bn while the order book had reached €614.3bn at the end of the first quarter. The reported EBIT amounted to €596m with a Net Cash position of €9.2bn at the end of March 2013. EADS’ reported EBIT increased to €596m (Q1 2012: €333m) and included total one-off charges of €145m at Airbus. As anticipated, €14m of this were booked for the A380 wing rib feet repair. In addition, a negative dollar mismatch and balance sheet revaluation of €131m is reflected in the Q1 2013 one-off charges. The finance result amounted to €-251m (Q1 2012: €-143m). The deviation compared to Q1 2012 mainly reflects a negative foreign exchange revaluation. Net Income increased significantly to €241m (Q1 2012: €126m).  Airbus reported earnings of €456m and revenues of  €9.2bn in the 1Q13 compared to €172m and €8bn in 1Q12.