EADS delivered a good start to the year with a solid financial performance in the first quarter, particularly thanks to the continued strong commercial momentum. As anticipated, defence markets in the Western world continue to be strained. However, the momentum of EADS’ institutional and governmental business in the first three months was encouraging. Order intake in the first three months reached €12.0bn. At the end of March, EADS’ order book stood at €526.2bn. Revenues amounted to €11.4bn. The EBIT before one-off of around €0.5bn benefited from good performance in Airbus, Eurocopter and Astrium while Cassidian remained stable. The reported EBIT amounted to €0.3bn. The Net Cash position remained robust at €10.7bn. Net Income rose to € 133m (Q1 2011: €-12m). The Net Income before one-off increased to €259m (Q1 2011: €101m).
Airbus consolidated revenues increased by 13% to €7,909m (Q1 2011: €7,013m). The Airbus consolidated EBIT rose 59% to €183m (Q1 2011: €115m). Airbus Commercial revenues amounted to €7,499m (Q1 2011: €6,707m). Airbus delivered 131 commercial aircraft. Compared to one year ago Airbus Commercial revenues benefited from a favourable volume and pricing effect. Airbus Commercial reported EBIT amounted to €146m (Q1 2011: €125m). In comparison to one year ago, the Airbus Commercial EBIT before one-off of €288m (Q1 2011: around €170m) benefited from positive volume and pricing effects as well as from improvement on A380, which were partially reduced by hedge rate deterioration of matured hedges of around € 50 million and higher R&D expenses, particularly for the A350 XWB programme. In the first three months, Airbus Commercial recorded 90 net orders (Q1 2011: 1 net order).