Airbus drives strong profits at EADS

Airbus drives strong profits at EADS

EADS has reported a rise in both profits and sales for financial 2012.

The aerospace and defence giant was boosted by a strong performance from its aircraft maker Airbus.

Net profit for 2012 at EADS rose 19 per cent to €1.23 billion, while revenues rose 15 per cent to €56.48 billion.

Revenues at Airbus rose 17 per cent to €38.59 billion, mostly due to commercial sales.

Airbus has been one of the strongest performing units within the company.

Its order book increased six per cent to €523.4 billion during the period, although it took fewer orders in 2012 than the year before.

“A strong focus on deliveries helped to significantly improve cash generation during the fourth quarter,” said chief executive Tom Enders in a statement.

“Going forward, the focus on bottom line growth remains our priority number one as a management team.”

Earlier this month, Airbus said it would not use lithium-ion batteries in its forthcoming A350 plane.

The decision follows a series of problems which have grounded all 50 Boeing 787 Dreamliners presently in operation.