Airbus SE — Earnings Release 2004

Jan 13, 2005

News Details

Ad-hoc | 13 January 2005 08:45

EADS N.V.: 2004 EADS estimated financial performance: maintaining the track…

Ad hoc announcement §15 WpHG 2004 EADS estimated financial performance: maintaining the track record EADS N.V.: 2004 EADS estimated financial performance: maintaining the track… Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— 2004 EADS estimated financial performance: maintaining the track record 2004 estimated EBIT* and Cash position surpass earlier targets Defence business strongly supported EADS revenues and order-book On track for further improvement across all divisions EADS will again deliver on its performance promises when it announces its 2004 results on March 9th. EADS CEO Philippe Camus hosted a New Year’s press conference in Paris on Thursday. He reported that EADS’ set of estimated figures for 2004 financial performance exceeds the latest targets released by the company on 4 November 2004. 2004 EBIT* is estimated to be in excess of Euro 2.3 bn, compared to the earlier target of Euro 2.2 bn, putting the 2004 EBIT* margin at over 7 percent, well above the 5.1 percent achieved in 2003 and on the right path to the 10 percent operating margin goal. The difference from earlier forecasts mainly reflects the higher number of Airbus deliveries (320 units, previous target based on 315 units) and the good performance of the Defence and Security Systems Division. EADS’ 2004 estimated revenues are around Euro 32 bn, based on an average currency exchange market rate Euro 1 = US-Dollar 1.24. Revenue growth was supported by the defence businesses which had revenues estimated at close to Euro 8 bn in 2004 (Euro 7.1 bn in 2003). Further growth towards EADS’ Euro 10 bn defence revenue goal is supported by a very solid military order-book which is now close to Euro 50 bn, reflecting the outstanding competitiveness of many EADS products such as A400M, Eurofighter, NH90, Tiger, MRTT, Skynet 5, Aster and others. Cash generation has surpassed expectations again in 2004. Year-end net cash position is estimated to be significantly in excess of the year-end 2003 level (Euro 3.1 bn). Cash generation was better than expected in the Defence and Security Systems, Airbus and Space divisions. The very solid cash position provides EADS with all the required flexibility to contemplate value creative investment opportunities and to share the fruit of its successes with its shareholders. EADS expects the 2005 EBIT* to exceed Euro 2.4 bn. The above mentioned estimates have not been reviewed by EADS’ independent auditors, nor have they been presented yet to the Board of Directors or to its Audit Committee. * 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 European Aeronautic Defence and Space Company Beechavenue 130-132 1119 PR Schiphol Rijk Niederlande ISIN: NL0000235190 WKN: 938914 Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 13.01.2005 130845 Jän 05