EADS reported a first quarter net profit of $314 million, driven by strong commercial aircraft numbers from Airbus
, which nearly doubled the group's 2012 first quarter net profit.
(Lion Air A320 Computer Rendering. Photo, courtesy of Airbus.
During the first quarter, Airbus received 410 net aircraft orders, a significant increase from the same time period in 2012 when the company booked just 90 net orders. The airframe manufacturer delivered 144 aircraft, helping its revenue to increase by 16 percent. Airbus' commercial aircraft orders were boosted by Lion Air's $24 billion order for 234 A320 family aircraft
“The quarter was an eventful one for EADS, with shareholders approving the new governance structure while the share buyback program is progressing and the free-float has risen significantly,” said EADS CEO Tom Enders, referring to the group's corporate restructuring approved by shareholders in March
EADS' overall revenue increased 9 percent year over year to $16 billion during the first quarter.
The group is projecting 700 aircraft orders and 600 aircraft deliveries for Airbus in 2013.