EADS profits up on Airbus deliveries

Airbus A380 Airbus sales have helped profits at EADS take off

The parent company of Airbus, EADS, has reported a sharp rise in profits for the first three months of the year.

Operating profits at the company rose by 56% to 741m euros ($963m; £629m) in the quarter.

Much of the rise was down to higher production at its Airbus subsidiary, where revenue climbed by 16%.

Last year, Airbus slipped behind Boeing in terms of civil aircraft deliveries, having been ahead between 2003 and 2011.

Airbus said it had delivered 144 aircraft between January and March, up from 131 in the same three months last year.

EADS restated its forecast that it would increase deliveries of commercial jets this year to between 600 and 610, as demand continues from airlines in the Middle East and Asia.

'Good start'

Net profits for the quarter nearly doubled compared with the same period in 2012, to 241m euros ($314m; £204m).

Chief executive Tom Enders said the company "had a rather good start into 2013" and remained focused on improving profitability "in 2013 and beyond".

However, EADS said that it had spent a significant amount of cash to boost its inventories for its new projects.

The aerospace giant beefed up the working capital at Airbus and its helicopter unit Eurocopter.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

  • Man holding lipWitch hunt

    The country where a blasphemy charge is a death sentence


  • Espresso cupNews quiz

    Which city serves the strongest cup of coffee?


  • Irvine WelshDeaf ears

    Five famous Scots who can't vote in the Scottish referendum


  • Electric chairReturn of 'the chair'

    Five people talk about their roles in Tennessee's execution debate


Elsewhere on the BBC

  • Canada.Hidden rail trip

    Canada's tiny, two-car shuttle is a train lover's dream with scenic views

Programmes

  • A cargo shipThe Travel Show Watch

    It is not cheap or glamorous - so why are people choosing to travel by cargo ship?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.