Empresas mostram resiliência perante a incerteza gaulesa

[GAB]

UPDATE 1-EADS shares nosedive as A380 delay spooks investors
14-06-2006 09:03 por Reuters

(Adds details, analyst comments)

PARIS, June 14 (Reuters) - Shares in EADS plunged 20 percent to a near 2-year low on Wednesday as news of fresh delays in the delivery of the Airbus A380 superjumbo fueled a flood of sell orders and brokers slashed their ratings of Europe's aerospace giant.

A fresh six-month delay in delivery of the Airbus A380 superjumbo revealed on Tuesday will cost EADS 2 billion euros ($2.5 billion) starting in 2007 just as it looks to fund an all-new, mid-sized model and buys out stakeholder BAE Systems Plc .

Exane BNP Paribas analysts said in a research note that the delay, the second to be announced for the A380, raised questions about credibility.

"While the likelihood of a further delay was not really a surprise, the magnitude of the delay and the EBIT shortfall is much more significant than we had anticipated and seems to relate mostly to exceptional costs," they said, cutting their 2007 earnings per share forecast by 16 percent and their target price to 26 euros.

With this second six-month delay for the world's biggest airliner, Airbus could now risk airlines dropping out of the programme, which has not yet won enough orders to cover its development costs of 12 billion euros.

EADS said this year's earnings would not be affected, but the delay would hit earnings before interest and tax to the tune of 500 million euros a year between 2007 and 2010.

EADS, a Franco-German-Spanish company, hinted at the possibility of cancellations, which would be a marketing disaster for Airbus given the focus on its boldest project.

"Possible contract terminations under the new timetable have not been taken into account in this estimate," EADS said in a statement issued late on Tuesday.

The setback comes as 20-percent stakeholder BAE of Britain prepares to bail out of Airbus, leaving EADS as sole owner.

By 0800 GMT, EADS shares were down 20.8 percent at 20.13 euros, their lowest level since August 2004.

BAE Systems shares were down 2.44 percent in London at 340-1/4 pence.

Deutsche Bank cut its recommendation on EADS to "hold" from "buy", and HVB lowered EADS to "outperform" from "buy" while several analysts trimmed their price targets. ((Writing by Dominique Vidalon; Editing by Margaret Orgill; Reuters Messaging: rm://dominique.vidalon.reuters.com@reuters.net; email: dominique.vidalon@reuters.com; Telephone: +33 1 49495432))

Keywords: TRANSPORT EADS STOCK

NOTA:
No intraday, hoje foi aos 16,75€.

[GAB]

Eads : accumule du retard dans la livraison des A 380
14/06/2006 | 07:19:29


Le programme de livraison de l'A 380 semble pour l'instant sérieusement compromis. Airbus prévoit un retard de 6 à 7 mois dans les livraisons de son gros porteur. En 2007, Singapore Airlines ne recevra que 9 des 20 à 25 appareils prévus. La compagnie aérienne Emirates devrait réceptionner ses premiers appareils en janvier 2008 soit 6 mois après la date prévue initialement.
Des avaries subies dans la production des systèmes électriques des avions auront un impact négatif sur la livraison des A 380.
Par ailleurs, la trésorerie pourrait pâtir de ces retards à hauteur de 300 millions d'euros en 2006 et d'un milliard en 2008. EADS prédit un impact de 500 millions d'euros sur le résultat opérationnel de sa filiale au cours de la période 2007-2010.
Le temps n'est pas vraiment au beau fixe pour le groupe EADS et ses filiales. En effet, le groupe de défense est en proie à de vives critiques sur son nouvel A 350. Certains clients menaceraient même de se retourner vers le gros porteur équivalent de Boeing. Toutefois, l'avionneur paneuropéen a annoncé des modifications importantes de l'appareil. Par ailleurs, EADS doit faire face au scandale politique de ClearStream tout en négociant avec BAE Systems sur la vente de sa participation dans Airbus.



© 2006 Agpresse

[GAB]

Grande queda da EADS
(20,50€), -19%

news: EADS shares open delayed after Airbus A380 news
14-06-2006 08:08 por Reuters

PARIS, June 14 (Reuters) - Shares in EADS could not start trading at the Paris bourse open on Wednesday due to a flood of sell orders after Europe's aerospace giant said fresh delays in the delivery of the Airbus A380 superjumbo would cost it around 2 billion euros ($2.5 billion).

By 0705 GMT the shares were indicated down 15.03 percent. Euronext stock exchange operator said it will attempt to quote the shares at 0710 GMT.

Deutsche Bank cut its recommendation on the stock to "hold" from "buy", while several analysts trimmed their price targets.

((Writing by Dominique Vidalon; Reuters Messaging: rm://dominique.vidalon.reuters.com@reuters.net; email: dominique.vidalon@reuters.com; Telephone: +33 1 49495432))

Keywords: TRANSPORT EADS STOCK