European Aeronautic, Defense and Space Corporation (EADS), the parent company of Airbus, announced Wednesday a 7-percent increase in overall revenue in 2010, returning to profit thanks to improved global market after a loss of 763 million euros
(1061 million U.S. dollars) in 2009.
According to its annual results, the group recorded a revenue of 45.8 billion euros last year with a full-year earnings of 553 million euros.
Boosted by sales of Airbus, EADS won a bunch of orders in 2010 valued 83.1 billion euros as a whole, up by 81 percent compared with the
value in 2009. The France-based Airbus delivered 510 commercial aircraft, setting a yearly record in 2010.
Sector by sector, in terms of operating revenue, Airbus gained 29.98 billion euros, up by 7 percent against the figure in 2009; Eurocopter
gained 4.83 billion euros, up by 6 percent; Astrium earned 5 billion euros, up by 4 percent; Cassidian earned 5.93 billion euros, up by 11
percent.
Thanks to lower charges for delayed programs such as its A400M military transport plane and "an impressive rebound in the commercial market, especially in growth-hungry developing markets, " the group managed to overhaul the big loss a year before, EADS Chief Financial Officer Hans Peter Ring said.
For future operations, EADS expressed confidence and printed a brighter picture for 2011. It forecast flat operating earnings of 1.3
billion euros this year before any one-off charges.
With Airbus' civil aviation sector accounting a majority of EADS sales, Chief Executive Louis Gallois said the group sets to deliver between 520 and 530 aircraft this year, more than the record in 2010.
Gallois added that the company has "an ambition" to raise its profitability to around 10 percent by 2015, though it's not "a target."