Airbus Group on May 13 posted a near doubling of net income in the first quarter due to stronger operating results and the positive impact of foreign exchange while sales also climbed.
Net earnings increased 93 percent to $601.5 million and sales increased 5 percent to $17.3 billion as all three of the company’s divisions added to the top and bottom lines. Free cash was a negative $2.8 billion due to seasonality and working capital requirements on key programs.
Operating earnings at the Airbus commercial aircraft division increased 18 percent to $748.1 million while sales edged up 2 percent to $12.2 billion on a more favorable mix of airplane deliveries.
At Airbus Helicopters, operating income climbed nearly 200 percent to $79.5 million on a 14 percent increase in sales to $1.6 billion as deliveries rose to 74 helicopters versus 58 a year ago.
Earnings at Airbus Defence and Space increased a percent to $116.5 million while sales increased 3 percent to $3.8 billion on two Ariane 5 launches in the quarter.