
European aerospace giant Airbus on Friday said its profits had nearly halved in the third quarter, as it ran into headwinds from adverse foreign exchange moves.
Airbus profits in the third quarter came in at 264 million euros ($329 million), a drop of 41 percent compared to the same period the previous year.
Turnover was stable however at 13.3 bilion euros, the group said.
"In the third quarter of 2014, net income was reduced by negative foreign exchange revaluation on US dollar liabilities," the group said in a statement.
Over the first nine months of the year, net profit was up 16 percent to 1.4 billion euros, prompting the group to maintain their forecasts for this year and next year.
"An improved operational performance drove revenues and profitability higher over the nine months of 2014," said Airbus Chief Executive Tom Enders.
The value of the all-important order book stood at 765 billion euros at the end of September, compared to 681 billion euros at the end of last year.
However, Airbus said it had received orders worth 79 billion euros in the past nine months, compared to 137 billion euros in the first nine months of last year.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor