EADS, manufacturer of aircraft, helicopters and satellites, posted a 15% rise in revenues for the 12 months to 31st December 2012.
Revenue increased to €56.5 billion from €49 billion in 2011, driven by the growing demand for passenger aircraft. Airbus, an EADS company, accounted for €37 billion, up €6 billion on the previous year.
“EADS achieved double-digit revenue and profit growth during 2012 while the order backlog increased further,” said EADS CEO Tom Enders.
Mr Enders added that “A strong focus on deliveries helped to significantly improve cash generation during the fourth quarter,” as Airbus ramped up production levels to cope with a record order backlog. Physical deliveries remained strong, with Airbus Commercial delivering a record 588 passenger jets.
However, Enders remained adamant that “there’s still some way to go to meet our profitability targets.”
Cracks found on the wings of the A380, the world’s largest commercial aircraft flying today, cost Airbus €251 million in repair costs during 2012. Although Airbus Commercial is not liable for the loss of revenue or profit caused to airlines, the company said it will consider “contracts adjustments” on deals whereby the A380 was grounded.
Despite cuts being made to defence budgets in the UK and the US, revenues at helicopter manufacturer Eurocopter increased 16% to a record €6.3 billion. Although total deliveries declined from 503 helicopters in 2011 to 475 in 2012, sales increased because of higher repair and overhaul support activities.
Despite the overall defence environment, defence revenues were flat compared to 2011. The increased need for satellite technology and new European space programmes boosted revenues at space division Astrium.