EADS on track to hit 2012 targets

City A.M. Reporter
Defence firm EADS this morning said it was on track to meet its 2012 revenue and profit guidance, as it got itself back on track following the collapse of merger talks with British firm BAE.

Over the nine months to September, EADS revenue jumped 14 per cent to €37.3bn (£29.8bn), up from €32.7bn over the same period last year, driven by growth across all divisions.

The European defence company, which owns planemaker Airbus, forecasts revenue to grow more than 10 per cent this year, and is expected to deliver a 2012 operating profit of €2.7bn.

Tom Enders, chief executive of the world's second largest aerospace firm after Boeing, pledged to put "strong emphasis" on cash generation and ensuring that deliveries of Airbus passenger jets remained on course in the final quarter.