Airbus Group surged 4.06 percent in Paris trading on Wednesday after the European Aerospace giant reported higher profit in its first nine months of fiscal 2018.
For the nine-month period, consolidated revenues rose to 40.4 billion euros from 38.0 billion euros last year while consolidated net income totalled 1.453 billion euros compared to 1.398 billion euros a year ago.
Consolidated adjusted EBIT increased to 2.74 billion euros from 1.21 billion euros last year while consolidated reported EBIT amounted to 2.683 billion euros, up from 1.673 billion euros a year ago.
The company said its Airbus division's revenue stood at 30.47 billion euros, 11% higher on an annual basis. Airbus Helicopters' revenue amounted to 3.75 billion euros, 11% lower on an annual basis while Airbus Defense and Space revenue reached 7 billion euros.
Earnings per share rose to 1.88 euros from 1.81 euros last year.
“The nine-month results mainly reflect the good performance on the A350 and the aircraft delivery profile. Even though we delivered more aircraft than a year earlier, we still have a lot to do to meet our commitments,” Airbus Chief Executive Officer Tom Enders said.
“On the A400M, we are progressing with the military capabilities, deliveries and retrofit. The contract amendment discussions are advancing, but a bit slower than planned. Our primary operational focus remains on commercial aircraft deliveries and securing the A320neo ramp-up” he added.
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Airbus delivered a total of 503 commercial aircraft, higher than about 454 commercial aircraft delivered in 2017.Airbus Helicopters delivered 218 units down from 266 units last year, with revenues stable on a comparable basis.
Revenues at Airbus Defence and Space reflected a stable core business and the perimeter change mainly related to the divestment of Defence Electronics in February 2017 and Airbus DS Communications, Inc. in March 2018.
Looking ahead, the company expects the world economy and air traffic to grow in line with prevailing independent forecasts, which assume no major disruptions.
For 2018, it maintained expected EBIT Adjusted of approximately 5 billion euros and targets to deliver around 800 commercial aircraft.
Airbus is a European aerospace corporation, registered in the Netherlands and trading shares in France, Germany and Spain. The company is a component of the Euro Stoxx 50 stock market index.
In 2017 it generated revenues of € 59 billion. As of Sept.30, 2018 it employed a workforce of 132,358.