Operating profit rose by 17% at DaimlerChrysler Aerospace (Dasa), to €730 million ($735 million) in 1999 compared with the previous year, with a strong performance from its Airbus division. The German company is to merge with Aerospatiale Matra and CASA this year to form European Aeronautic, Defense and Space (EADS).
Overall, Dasa's revenues were up 5%to €9.2 billion, but rose 13% in its commercial aircraft unit, which incorporates the company's 37.9% stake in Airbus. Military aircraft, helicopter and aero-engine sales were also up, with space infrastructure and defence/civil systems revenues relatively static and satellite sales down. Dasa's parent group had a turnover of c150 billion.
Meanwhile, in an effort to smooth the transition to EADS, the new company's co-chief executive designate Rainer Hertrich, former head of engine specialist MTU, is to take over as Dasa chief executive and chairman from Manfred Bischoff, who replaces Jurgen Schrempp as chairman of its supervisory board.
Bischoff, who is also co-chairman designate of EADS, assumes board responsibility for all of the DaimlerChrysler group's non-automotive functions, including MTU, freeing Eckhard Cordes - in charge of mergers and IT management - to focus on e-commerce.
"This proposed rearrangement of responsibilities will enable us to better focus our work in the boardroom," says Schrempp.
Source: Flight International