EADS lifts profits, sales in 2012

27th February 2013, Comments 0 comments

European aerospace giant EADS said Wednesday it achieved a strong rise in sales and earnings last year on the back of a strong performance of its aircraft maker Airbus and stable defence business.

EADS said in a statement it booked net profit of 1.228 billion euros ($1.6 billion) last year, a rise of 19 percent over the year-earlier figure.

Underlying or operating profit, as measured by earnings before interest and tax and one-off items, to 3.0 billion euros from 1.8 billion euros in 2011.

And revenues grew by 15 percent to 56.48 billion euros, the statement said.

"EADS achieved strong revenue and underlying profit growth for the full year 2012. Despite a difficult macroeconomic environment, EADS saw continued momentum in its commercial activities while defence revenues were broadly stable," the company said.

Looking ahead to the current year, EADS said it was projecting underlying or operating profit of 3.5 billion euros, "provided the world economy and air traffic grow in line with prevailing independent forecasts and there are no major disruption due to the current sovereign debt crisis."

© 2013 AFP

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