Airbus Group reports solid results for first half 2014

Airbus Group reported solid results for the first half of 2014, reflecting operational improvement and the continued focus on programme execution. Demand for the Group’s products remains strong as shown at July’s Farnborough Air Show, where Airbus announced 496 aircraft orders and commitments confirming the health of the commercial aircraft market. The A330neo was endorsed by the market with 121 commitments announced at the show. Group order intake in the first half was €27.7bn (H1 2013: €95.6bn), with the order books worth €677.4bn on 30 June, 2014 (year-end 2013: €680.6bn). Airbus received 290 net commercial aircraft orders (H1 2013: 722 net orders). Net order intake at Airbus Helicopters was 148 units (H1 2013: 167 units) while in July agreements were signed to supply 123 rotorcraft to China. Group revenues increased 6% to €27.2bn (H1 2013: €25.7bn), driven by Airbus Commercial Aircraft and Airbus Helicopters. Airbus’ revenues 7%, reflecting the increase in deliveries to 303 aircraft (H1 2013: 295 deliveries) and a more favourable mix, including five additional A380s compared to a year earlier. Airbus Helicopters’ revenues rose 8% as deliveries increased to 200 units (H1 2013: 190 units) including the NH90 ramp up. EBIT before one-off for Airbus rose to €1,287m (H1 2013: €1,231m), reflecting operational improvement but was weighed down by A350 XWB support costs and a more front-loaded research and development (R&D) expense profile compared to 2013. EBIT before one-off at Airbus Helicopters rose to €150m (H1 2013: €128m), reflecting the Super Puma recovery and services activities. Reported EBIT increased 24% to €1,839m (H1 2013: €1,478m) and included a €70m positive contribution from the dollar pre-delivery payment mismatch and balance sheet revaluation. The finance result was €-252m (H1 2013: €-417m while net income increased to €1,135m (H1 2013: €758m).

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