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EADS announces second quarter financial results.

AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD

European Aeronautic Defence & Space Co (EADS), which owns 80% of European aircraft maker Airbus, announced on Wednesday (27 July) its second quarter financial results.

EADS said its net profit rose 47% to EUR488m in the April-June period from EUR332m a year earlier. Revenue increased 6% to EUR9.02bn. Earnings before interest and taxes (EBIT), before goodwill impairment and exceptional items rose 13% to EUR883m in the quarter.

In the second quarter Airbus' EBIT before goodwill and exceptional items increased 8% to EUR816m. EADS' Defence and Security Systems division recorded a EUR16m EBIT compared to an EUR32m loss in 2004, while the helicopter division, Eurocopter, recorded a 31% increase in EBIT to EUR47m, reported the Associated Press.

For the first half of 2005, EADS' net profit increased by 57% to EUR816m and its revenues increased by 10% to EUR16bn compared to the same period of 2004. EBIT before goodwill impairment and exceptionals for the period rose to EUR1.54bn.

EADS retained its current forecast for EBIT before goodwill and exceptional items for the whole 2005 above EUR2.6bn, compared to EUR2.44bn last year, while revenue is forecast at EUR33bn, an increase from EUR31.8bn in 2004.

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Title Annotation:European Aeronautic Defence & Space Co.
Publication:Airline Industry Information
Article Type:Brief Article
Geographic Code:4EUNE
Date:Jul 28, 2005
Words:216
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