Airbus Group sees profits jump in 2013

February 26, 2014 - 11:35:36 am

TOULOUSE: European aerospace giant Airbus Group on Wednesday announced a 22 percent year-on-year rise in net profit for 2013, despite one-off charges related to its new A350 wide-body aircraft.

Net profit was 1.5 billion euros or $2.06 billion while earnings before interest, tax, depreciation and amortisation (EBIT) rose by 21 percent to 3.6 billion euros, it said in a statement. 

Full-year revenue was up five percent to 59.3 billion euros, driven by increased aircraft deliveries.

For 2014 the group, formerly known as EADS said it "expects moderate return on sales growth" and "confirms its 2015 return on sales target of 7-8 percent".

The final quarter of 2013 included a 434-million euro charge "to reflect the higher level of costs on the A350 XWB programme", it said. 

The A350 XWB is a long-range, wide-body plane which is slated to come into service at the end of the year.

Airbus Group added that it planned to increase production of its popular A320 single-aisle planes from 42 to 46 per month from the second quarter of 2016.

Last month Airbus announced that it took a record 1,503 net orders in 2013, beating US rival Boeing which had 1,355 orders. 

But it trailed behind Boeing in terms of finished airliners delivered. (AFP)