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EADS Space Unit Returns To Profit In 2004

Paris (AFP) Jan 31, 2005
The space unit of the European Aeronautic Defense and Space company (EADS) returned to profit last year, thanks to a seven percent jump in sales, but foresees possible job cuts in its launch operations in 2006, the head of EADS Space said Monday.

"The goal of returning to balance in 2004 will have been met and surpassed with a positive EBIT," chief executive Francois Auque said, referring to earnings before interest and taxes.

EADS Space in 2003 sustained an operating loss of 400 million eurosmillion dollars) from sales of 2.4 billion euros.

Official 2004 results will be released in March.

Sales in 2005 may come in slightly below those of 2004 but the unit is nontheless on target to reach growth in earnings before interest and taxes of six percent in 2006-2007, Auque.

But he expressed concern about prospects for the company's space launch operations with the conclusion of the development phase of three major programs, which he said could affect 600-700 jobs in 2006.

EADS Space employs 11,000 people, of whom 4,200 work for EADS Space Transportation, which includes the launch activities in question.

All rights reserved. � 2004 Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.

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