Airbus profit lifted by exceptionals

AFP, PARIS: Airbus Group said yesterday its net profit rose 15 per cent  in the first half of the year to 1.76 billion euros ($1.94 billion), but the gain was due to exceptional items that masked a slide in operating earnings.
The company was hit by charges of just over 1 billion euros related to its troubled A400M military cargo transporter programme, while adverse currency movements and charges on its widebody A350 aircraft totaled nearly 900 million.
However these were compensated for by the sale of shares in Dassault Aviation and the creation of a rocket launcher joint venture with Safran that generated a net gain of nearly 1.9 billion euros.
One-off items produced a net gain of 172 million euros, accounting for most of the 237 million increase in net profit.
Before one-off items the company’s operating earnings fell by 11 per cent  to 1.7 billion euros.
Revenue, which is received when aircraft are delivered, was flat in the first half of the year at 28.8 billion euros.

Airbus profit lifted by exceptionals

AFP, PARIS: Airbus Group said yesterday its net profit rose 15 per cent in the first half of the year to 1.76 billion euros ($1.94 billion), but the gain was due to exceptional items that masked a slide in operating earnings. The company was hit by charges of just over 1 billion euros related to its troubled A400M military cargo transporter programme, while adverse currency movements and charges on its widebody A350 aircraft totaled nearly 900 million. However these were compensated for by the sale of shares in Dassault Aviation and the creation of a rocket launcher joint venture with Safran that generated a net gain of nearly 1.9 billion euros. One-off items produced a net gain of 172 million euros, accounting for most of the 237 million increase in net profit. Before one-off items the companys operating earnings fell by 11 per cent to 1.7 billion euros. Revenue, which is received when aircraft are delivered, was flat in the first half of the year at 28.8 billion euros.