Airbus Group reports robust first quarter 2015 results

Airbus Group reported robust first quarter 2015 results with improved cash flow and confirmed its full year guidance. Group order intake in the quarter was €21bn (Q1 2014: €21bn), with the order book value rising to €955bn as of March 31st, 2015 (year-end 2014: €858bn) taking into account a positive revaluation linked to the strengthening of the US dollar. Airbus received 101 net commercial aircraft orders in the quarter (Q1 2014: 103 net orders), including 34 A330 Family aircraft. Airbus Helicopters received 86 net orders (Q1 2014: 78 units), including 49 H145s and 19 H175s, while in April the H225M Caracal was preselected by Poland for the test phase of its multi-role military helicopter tender. Order intake by value at Airbus Defence and Space rose 16%, with good momentum seen for military aircraft including seven light and medium transport aircraft. Group revenues totalled €12.1bn (Q1 2014: €12.6bn), mainly reflecting the phasing of deliveries at Commercial Aircraft which are expected to be back-loaded in 2015, especially for the A350 XWB and A380. A total of 134 commercial airplanes were delivered (Q1 2014: 141 units), including one A350 XWB and four A380s. Commercial Aircraft’s revenues totalled €8.6bn with favourable foreign exchange mitigating the lower delivery volume. Net income increased by 80% to €792m (Q1 2014: €439m), while earnings per share (EPS) rose by the same amount to €1.01 (Q1 2014: €0.56). The finance result was € -366m (Q1 2014: €-107m) and included negative one-offs of €229m from foreign exchange revaluation linked to the weakening of the euro.