Airbus Group reports solid half-year 2015 results

Airbus Group reported solid half-year results supported by an improved operational performance and confirmed its 2015 guidance. Group order intake in the first six months of 2015 increased sharply to €53.9bn (H1 2014: €27.7bn), with the order book value rising to €927bn as of June 3oth (year-end 2014: €858bn) taking into account a positive revaluation linked to the strengthening of the US dollar. Airbus received 348 net commercial aircraft orders (H1 2014: 290 net orders), including 57 A330 Family aircraft. Demonstrating the continued strength of the commercial aircraft market, 421 firm orders and commitments were announced during the Paris Air Show. Airbus Helicopters received 135 net orders (H1 2014: 148 units), including 29 H175s. Order intake by value rose 40% at Airbus Defence and Space, with strong momentum seen across business lines including additional Earth observation satellites and A330 MRTTs. Group revenues rose 6% to €28.9bn (H1 2014: €27.2bn), reflecting the strong delivery mix at Commercial Aircraft and strengthening US dollar. Commercial Aircraft’s revenues rose 9% with 304 commercial airplanes delivered (H1 2014: 303 units) including 4 A350 XWBs and 13 A380s. Group EBIT before one-off – an indicator capturing the underlying business margin by excluding material non-recurring charges or profits caused by movements in provisions related to programmes and restructurings or foreign exchange impacts – rose six percent to € 1,883 million (H1 2014: €1,769m) with improvements in all Divisions. Commercial Aircraft’s EBIT before one-off rose to €1,533m (H1 2014: €1,287m), driven by operational improvement and some favourable cost phasing including research and development (R&D) expenses. Net income increased 34% to €1,524m (H1 2014: €1,135m) while earningsper share (EPS) rose the same percentage to €1.94 (H1 2014: €1.45), driven by the improved operational performance. Both included the Dassault Aviation capital gain and A400M charge. The finance result was €-344m (H1 2014: €-252m) and included one-offs totalling € -100m mainly from negative foreign exchange revaluation of financial instruments.