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Amsterdam (pte035/07.04.2003/14:50) - The European Aeronautic Defence and Space Company (EADS) http://www.eads.com plans to strengthen its armament division.
By 2005 EADS hopes to increase turnover in defence-orientated production by 60 per cent to 9.6bn euros, as reported today by the Financial Times Deutschland (FTD).
EADS expects the new growth to come from sales of its Eurofighter fighter plane, NH90 transport helicopter, Tiger battle helicopter and guided missiles. The largest boost in turnover is expected to result from a 17.7-billion-euro contract to build the Airbus A400M military transporter. EADS is still waiting for Germany to agree to the deal.
The new prognosis means that EADS will be boosting its defence production and decreasing its dependency on civil air travel (63 per cent of main sources of revenue). The company had originally predicted 50 per cent growth in its armament division to nine billion euros by 2004. Last year turnover in this section remained unchanged at six billion euros, making up 20 per cent of group turnover (29.9bn euros).
Greater independence from the civil air travel sector will mean less impact from heavy fluctuations on the civil market. According to the rough estimate and assuming the A400M deal goes through, defence projects should make up 30 per cent of total group turnover by 2012.
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