EADS Q3 profits surge 67%
European Aeronautic, Defence and Space Co said it's confident to meet its 2012 earnings forecast after third-quarter profit surged 67 per cent as the Airbus SAS unit delivered more planes.
Europe's biggest aerospace and defence company said earnings before interest and tax rose to €537 million from €322 million a year earlier, not including one-time charges and currency movements.
Revenue increased 15 per cent to €12.32 billion.
The earnings report is the first from EADS since chief executive officer Tom Enders sought to combine his company with BAE Systems last month to better balance commercial and defence sales.
In the third quarter, Airbus contributed 68 per cent to overall revenue and 53 per cent to operating profit, cementing its status as the central asset driving EADS.
"For the rest of the year, we'll put strong emphasis on cash generation. Aircraft deliveries are key," Mr Enders said in an e-mailed statement today.
"We will not run out of operational challenges anytime soon, especially at Eurocopter and Airbus."