The fall of the euro makes people happy at EADS. Interviewed by the Financial Times Deutschland, the chief financial officer of Airbus, Hans Peter Ring said the group saw again upgraded its earnings forecast after the fall of the euro. The manufacturer was expecting $ 1.40 to euro. However, the single currency has now reached its lowest level in four years at 1.1894 dollars.
This is a boon for EADS, which occurs in the euro area and therefore pays the majority of its costs in euros, but which generates most of its sales in dollars. If Hans Peter Ring said that the rate of the euro would have no impact on short term profit for the group, he still said he would have a positive effect on turnover. "It seems that this will be different about our income because we have more volatility.Therefore, our revenues could be better than what was previously expected. "
No significant impact in the first quarter
In the first quarter, the impact of the fall of the euro on the results of the group was not significant but if the euro maintains its current course, the first signs should appear in 2012, and the effect could be strengthened 2013. "We must be patient," says the CFO. In an interview with German weekly Welt Am Sonntag, Chairman of the Board of Directors of EADS, said Bodo Ubber parity ideal for Airbus would be $ 1.20 per euro.
As expected, the group should increase the proportion of sales paid in dollars."I think we would be shortsighted if we changed this strategy," said Hans Peter Ring.
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