Airbus revenue rise boosts EADS to €45.8bn in 2010

London
Source:
This story is sourced from Flight International
Subscribe today »

Airbus saw revenue from its commercial airliners rise by 5% to €27.6 billion ($38.3 billion) in 2010, up from €26.3 billion the year before.

The company says this is partly driven by a favourable volume and mix of deliveries, including higher numbers of A380s.

However, EBIT fell by 25% to €291m, from €386m in 2009, mainly to a one-off cost of €280m.

The company saw a high gross order intake in 2010 of 644 aircraft "driven by continuing appetite for growth in emerging markets".

Net orders stood at 574, including 32 additional A380s and 78 A350 XWBs.

Progress on the A350, described as the company's "top risk programme", has been good, it says, with the beginning of manufacturing of sub-components and sub-assemblies. However, "the time schedule remains challenging" to meet the planned entry into service of the second half of 2013, it notes.

The A380 programme is stabilising, it says, and margins are improving on each aircraft.

Airbus's backlog stands at €378.9 billion, representing 3,552 units.

The figures are contained in the 2010 full year results from its parent company, EADS. Revenues at EADS were up 7% to €45.8bn.

Other EADS divisions produced reasonably strong revenue performance. Airbus Military saw revenue rise slightly to €2.8 billion from €2.2 billion in 2009, mostly driven by zero-margin revenue on the back of the A400M development. Deliveries stood at 20 medium, light or tanker aircraft, against 16 the previous year,

EBIT was clawed back into positive territory, hitting €21 million, against 2009's horrendous loss of €1.7 billion.

Series production of the A400M is now ready to start, it adds.

Eurocopter's revenue stood at €4.8 billion, a rise of 6% on 2009's figure, although EBIT fell to €183 million from €263 million on the back of higher product investment and a one-off charge.

Deliveries for the division were 527 helicopters, down on 2009's figure of 558.

Net orders are at 346, although it notes that "recovery in the civil market is slow, in particular due to the high number of second-hand helicopters in the market".

The space division, Astrium, recorded a 4% revenue rise to €5 billion. Ten Astrium-built satellites were launched in the year "and are performing successfully". Ariane 5 also delivered its 41st consecutive successful launch during the period.

Cassidian, EADS' defence business, saw revenue grow 11% to €5.9 billion, mainly driven by work on the Eurofighter Typhoon and missile programmes. EBIT was down slightly at €457 from €449, partly due to contract cancellations and increased R&D investment in UAVs.

Turboprop manufacturer ATR delivered 52 aircraft during 2010 and received 78 firm net orders as well as 33 options. Order intake was "higher than expected", it notes, with demand particularly high for its new 72-600 aircraft.