EADS… Financially Speaking…

[SatNews] EADS has made improvements in their macro-economic and commercial environment, as is seen with their half-year 2010 financial report.

EADS’ revenues stood at 20.3 billion euros. The EBIT before one-off of 0.6 billion euros benefited from good performance in Airbus legacy programmes and other business activities. EADS’ EBIT amounted to 406 million euros after exceptional foreign exchange effects. The order intake of 30.8 billion euros mirrors the improved momentum in commercial aviation. EADS’ order book of more than 454 euros billion provides a solid platform for future deliveries. The Group’s Net Cash position of 8.9 billion remains a key asset.

Astrium revenues in H1 2010 amounted to 2,110 million euros (H1 2009: 2,194 million euros), reflecting a positive contribution from defence activities and telecommunication services. However, in the second quarter 2009, Astrium booked a one-time catch-up effect for commercial telecommunications satellites of around 200 million euros that is not compensated this quarter. EBIT improved by 7 percent to 106 million euros (H1 2009: 99 million euros), thanks to increased productivity and ramp-up in defence activities as well as growth in military telecommunications services, partially reduced by lower volume in Earth Observation services. Astrium recorded a historic quarter with Ariane 5 marking its 37th successful launch in a row and with the launch of seven Astrium-built satellites in the first half year, of which six in only one month between May and June. Commercial momentum also continues with two new commercial satellite orders in the quarter from Eutelsat Communications and SES WORLD SKIES. Both satellites are based on Astrium’s Eurostar E3000 platform.

Two earth observation satellites were booked for Kazakhstan. Astrium’s order intake amounted to € 2.7 billion for H1 2010. Order momentum continued from commercial and institutional customers. However, it was significantly lower than in H1 2009 (6.4 billion euros) which included the Ariane 5 PB batch of 35 launchers. At the end of June 2010, the order book for Astrium amounted to 15.5 billion euros (year-end 2009: 14.7 billion).