Airbus SE — Earnings Release 2005

Dec 10, 2004

News Details

Ad-hoc | 10 December 2004 17:45

EADS Financial Guidance for 2005: Revenues and EBIT* to further grow

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– EADS: Ad-hoc release, December 10, 2004 EADS Financial Guidance for 2005: Revenues and EBIT* to further grow Revenues 2005: Euro 33 billion EBIT* 2005: better than Euro 2.4 billion 350-360 Airbus aircraft deliveries expected Defence revenues to further increase to Euro 8.5 billion Self-financed Airbus R&D on the 2004 level Earnings per share of Euro 1.20, post minority and exceptional items EADS (stock exchange symbol: EAD), a global leader in aerospace, defence and related services, expects its 2005 revenues to grow to around Euro 33 billion and EBIT* to more than Euro 2.4 billion. For 2004, EADS had forecasted revenues of Euro 32 billion and EBIT* of Euro 2.2 billion. On that basis, the 2005 guidance represents three percent revenue growth and more than nine percent EBIT* increase. The EADS revenue guidance is calculated on a 2005 exchange rate assumption of US$ 1.30 to the Euro compared to Euro 1 = US$ 1.23 in 2004. EADS expects Airbus to deliver 350-360 aircraft in 2005, entirely out of the existing order book. Revenues from its defence business should continue to grow and reach around EUR 8.5 billion in 2005, or approximately 26 percent of total group revenues. The defence business will be mainly driven by progress with the A400M and Paradigm programmes, higher missile deliveries and the ramping up of NH90 and Tiger helicopter deliveries. Airbus EBIT* growth will be driven by increased volumes. At the same time, Airbus’ self-funded R&D expenses will remain on the 2004 level, mostly accounted for by A380 development expenses and the launch of the A350 programme. While the Military Transport Aircraft and Space divisions are expected to contribute to the 2005 overall EBIT* improvement, the Defence and Security Systems and Aeronautics divisions are expected to achieve stable results in 2005. EADS expects 2005 earnings per share (EPS) of Euro 1.20, based on anticipated Net income of about Euro 1 billion, post minorities and exceptional items and computed on an average number of shares estimated to be around 807 millions of shares in 2005. EADS will continue to invest in the Skynet 5 military satellite communications system expected to be operational with the British forces in 2007. Excluding this particular investment, EADS intends to maintain a positive free cash-flow pre customer financing. Customer financing net additions are expected to be limited. EADS foresees order intake in 2005 to match revenues. The order book should remain strong and well in excess of Euro 170 billion based on Euro 1 for US$ 1.30. * EADS uses EBIT pre goodwill amortization and exceptionals as a key indicator to measure the economic performance of the Group and its Segments. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the Airbus combination and the formation of MBDA, as well as impairment charges. Contact: Rainer Ohler +49 89 60 73 42 35 end of ad-hoc-announcement (c)DGAP 10.12.2004 ——————————————————————————– WKN: 938914; ISIN: NL0000235190; Index: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 101745 Dez 04