Airbus Military revenues down, despite orders spike

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Airbus Military sold a record 21 light and medium transport aircraft in the first six months of 2012, but reduced incomes from its A400M and tanker programmes saw its revenues fall by 24% against the same period last year.

Detailing the airframer's activities in its half-year results statement on 27 July, EADS said Airbus Military's revenues of €843 million ($1 billion) were down from more than €1.1 billion in the first half of 2011. The fall is attributed mainly to "lower revenue recognition on the A400M as well as lower tanker revenues".

New sales of the C295, CN235 and C212 were made to countries including Cameroon, Egypt, Kazakhstan, Oman and Poland during the half-year period, when seven transports were also delivered.

As announced before the Farnborough air show in July, a recent testing issue with the A400M's Europrop International TP400-D6 engine has pushed back the schedule for delivering the first of at least 174 A400Ms, and also delayed the associated declaration of initial operating capability with the airlifter.

 

Europrop International

"Airbus Military is preparing for the first aircraft acceptance by the French air force," EADS says, with this to be completed in accordance with a contractually agreed date during the first quarter of 2013. Three A400Ms should be delivered to the programme's launch operator next year, along with the first example for the Turkish air force.

Flight activities involving a five-strong fleet of "Grizzly" test aircraft had reached 3,525h by the end of June.

At mid-year, Airbus Military had a 231-aircraft orderbook worth €21.7 billion, from a total EADS defence backlog valued at €51.9 billion. The company's Cassidian unit, which posted revenues worth €2.18 billion in the first half of this year, is responsible for €16.3 billion of this total.