EADS Announces FY 2005 Results

European defense industry giant EADS recently announced its FY 2005 results. Amidst a year that saw it close out a deal for 10% of Russia’s SU-30 source Irkut Corp., buy Atlas Elektronik from BAE, and open an Alabama facility to help it focus on the US market, Revenues were up only 8% to EUR 34.2 billion. Yet EBIT pre-goodwill impairment and exceptionals was up 17% to EUR 2.85 billion, and Net Income rose 39% to EUR 1.7 billion. EADS’ Airbus civil aircraft segment was largely responsible for these results, accompanied by a combination of modest gains and modest losses in its defense and space businesses. EADS Eurocopter, which includes military and civilian aircraft but is tilted toward the civilian side, saw EBIT rise about 6% to EUR 212 million while revenues increased by 15% to EUR 3.21 billion. EADS also announced that FY 2006 revenues were expected to exceed EUR 37 billion, with 2006 EBIT expected to grow to between EUR 3.2-3.4 billion. See the full release for complete figures and more in-depth breakdowns.