EADS has reported higher revenues but significantly lower order intake for the first three months of 2004. Sales were up 9% at €6.03 billion ($7.18 billion) for the quarter, 68% coming from Airbus, 80% owned by EADS. However, order intake was sharply down at €3.3 billion, compared with €5.3 billion in the first quarter of 2003. EADS blamed this on lower orders at Airbus. The company also reported a slowdown in its civil aircraft maintenance and service activities, pushing aeronautics revenue down 6% to €645 million. EADS reiterated its revenue forecast of €29-30 billion for 2004, adding that "there are first signals that the markets might be stronger than expected: these signals raise our confidence in the assumptions of our targets for 2004".
Source: Flight International
