Slide 1: 9m Results 2013
9m Results 2013 Harald Wilhelm Chief Financial Officer
Slide 2: Safe Harbour Statement
Safe Harbour Statement 2 DISCLAIMER This presentation includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking
Slide 3: 9m Results 2013: Group Highlights
9m Results 2013 Group Highlights Divisional Highlights Guidance
Slide 4: 9m 2013 Key Messages
9m 2013 Key Messages 4 Strong commercial aircraft market Key Messages Continued progress on execution ADS re-organisation advancing Revenues: +7% Financial EBIT* before one-off: +22%, EBIT*: +36% Highlights EPS: increase to € 1.50, +39% FCF**: € -4.8 bn Full year 2013 guidance adjusted to reflect 9m
Slide 5: 9m 2013 Commercial Environment
9m 2013 Commercial Environment 5 EADS Order Intake* by Segment (in value) : EADS Order Book* by Region (in value) : 2% 4% 5% 15% 33% Asia Pacific € 138 bn Defence € 642 bn Europe Commercial North America t/o Defence € 6 bn t/o Defence € 48 bn Middle East Latin America 19% Other countries 96% 26% Air
Slide 6: 9m 2013 Financial Performance
9m 2013 Financial Performance 6 Revenues EBIT* before one-off 56 Moderate 49 Growth RoS: 5.2% 3.50 40 37 2.96 RoS: 5.8% 33 RoS: 5.1% in € bn in € bn RoS: 3.7% 2.34 1.79 RoS: 3.3% 1.92 12 12 1.07 7 7 8 9m 2011 2011 9m 2012 2012 9m 2013 Guidance 9m 2011 2011 9m 2012 2012 9m 2013 Guidance 2013 2013 t/o
Slide 7: 9m 2013 Profitability
9m 2013 Profitability 7 EBIT* Performance RoS: 5.8% RoS: 5.4% 2.34 RoS: 5.1% 2.15 9m 2013 EBIT* reported +36% 1.92 RoS: 4.2% 1.58 9m 2013 one-offs are limited to known A380 in € bn impact and $ PDP Mismatch and Balance Sheet Revaluation EBIT* before one-off EBIT* Reported 9m 2012 9m 2013 EPS Perform
Slide 8: 9m 2013 Cash Evolution
9m 2013 Cash Evolution 8 in € m +2,618 12,292 -5,467 -1,966 -15 5,244 Free Cash Flow* before Acquisitions -2,218 -4,815 Net Cash position Gross Cash Flow Change in Working Cash used for Acquisitions Share Buyback / Net Cash position Dec. 2012 from Operations Capital** investing activities Dividends
Slide 9: 9m Results 2013: Divisional Highlights
9m Results 2013 Group Highlights Divisional Highlights Guidance
Slide 10: Airbus Division (incl. ATR & Sogerma)
Airbus Division (incl. ATR & Sogerma) 10 In € m 9m 2013 9m 2012 pro forma Change Airbus Division External revenue split: Airbus Airbus Airbus Airbus Airbus Airbus Airbus Division Comm. Military Division Comm. Military Division 5% Order Intake (net) 1) 1,070 1,062 8 412 382 30 +159.7% in units Order
Slide 11: Eurocopter
Eurocopter 11 in € m 9m 2012 9m 2013 Change External revenue split: pro forma Order Intake (net) 276 286 -3.5% in units Order Book 1,034 1,062 -2.6% 45% Defence 55% Civil Order Intake (net) 4,177 3,586 +16.5% in value Order Book 12,986 13,283 -2.2% Deliveries (units) 312 300 +4.0% A Revenues 4,132 4
Slide 12: Astrium
Astrium 12 External revenue split: in € m 9m 2012 9m 2013 Change 33% pro forma Defence Civil Order Intake (net) 4,250 2,866 +48.3% 67% Order Book 12,895 13,804 -6.6% Revenues 4,014 3,934 +2.0% R&D expenses 76 85 -10.6% in % of revenues 1.9% 2.2% 24% 33% EBIT* before one-off 205 190 +7.9% Services in
Slide 13: Cassidian
Cassidian 13 External revenue split: in € m 9m 2012 9m 2013 Change 25% pro forma Services Platforms Order Intake (net) 2,953 3,406 -13.3% Order Book 14,808 15,928 -7.0% 75% Revenues 3,498 3,484 +0.4% R&D expenses 172 165 +4.2% 7% in % of revenues 4.9% 4.7% 12% Air Systems & Services MBDA EBIT* befor
Slide 14: 9m Results 2013: Guidance
9m Results 2013 Group Highlights Divisional Highlights Guidance
Slide 15: Guidance 2013
Guidance 2013 15 2013 Guidance is based on $/€ 1.35 as average rate Airbus Gross commercial aircraft orders above 1,200 aircraft Orders & Deliveries Airbus deliveries should continue to grow up to 620 a/c Due to lower A380 deliveries and assuming an exchange rate of €1: $1.35, EADS Revenues revenues
Slide 16: Appendix
Appendix @AIRBUS QASTRIUM ®@CASSIDIAN Q@EUROCOPTER i EADS
Slide 17: Currency Hedge Policy
Currency Hedge Policy 17 Expected exposure 23.4* Trend (indicative) 17.3 Forward Sales 23.7 Total Dec. 2012 20.6 16.6 13.1 6.1 Average hedge rates 2013 2014 2015 2016 2017+ 1.36 1.35 1.35 1.32 1.32 € vs $*** For remaining 3 months ( FY 2013e 1.37 ) ( 1.36 in Dec. 12 ) ( 1.35 in Dec. 12 ) ( 1.32 in D
Slide 18: 9m 2013 Detailed Income Statement & Adjustments
9m 2013 Detailed Income Statement & Adjustments 18 Thereof Thereof Impact on EBIT* Goodwill in € m OPERA- FX Fin. 9m 2013* Impair. 9m 2013 9m 2013* TIONAL one- result before & Fair one-offs off one-off one-off value dep. Airbus Division EBIT* 2,115 -31 2,146 -49 -140 2,335 in % of revenues 5.3% 5.4%
Slide 19: 9m 2012 Detailed Income Statement & Adjustments
9m 2012 Detailed Income Statement & Adjustments 19 Thereof Thereof Impact on EBIT* Goodwill 9m 2012* in € m OPERA- FX Fin. 9m 2012 Impair. 9m 2012* before TIONAL one- result pro forma & Fair pro forma one-off one-offs off one-off value dep. pro forma Airbus Division EBIT* 1,554 -29 1,583 -399 65 1,9
Slide 20: 9m 2013 Forex EBIT* Impact Bridge
9m 2013 Forex EBIT* Impact Bridge 20 in € bn Bridge Hedge rates stable (€: $ 1.37) - PDP $ mismatch and balance sheet revaluation (0.2) Compared to 9m 2012 (0.2) * Pre-goodwill impairment and exceptionals
Slide 21: Expected EADS Average Hedge Rates € vs. $
Expected EADS Average Hedge Rates € vs. $ 21 Average hedge rates 1.40 1.39 1.38 Average rates 1.38 1.36 1.36* 1.36 1.36 FY 2012 1.36 1.36 1.35 FY 2013E 1.37 1.34 1.34 1.32 Q1 Q2 Q3 Q4 2012 2013E * Q3 2013 actuals
Slide 22: Q3 2013 Key figures
Q3 2013 Key figures 22 in € bn Q3 2012 Q3 2013 pro forma Revenues 13.6 12.3 EBIT* 0.7 0.5 FCF before customer financing** (0.3) (1.6) Order Intake 41.6 22.2 Revenues EBIT* in € m Q3 2012 Q3 2012 Q3 2013 Q3 2013 pro forma pro forma Airbus 9,846 8,526 409 281 Eurocopter 1,548 1,345 89 77 Astrium 1,206
Slide 23: Detailed Free Cash Flow
Detailed Free Cash Flow 23 in € m 9m 2013 9m 2012 Net Cash position at the beginning of the period 12,292 11,681 Gross Cash Flow from Operations* 2,618 3,113 Change in working capital (5,467) (4,578) of which Customer Financing (418) (97) Cash used for investing activities** (1,981) (1,911) of which
Slide 24: EADS: Strong Liquidity Position as of 30 September 2013
EADS: Strong Liquidity Position as of 30 September 2013 24 € 3.0 bn Refinanced in April 2011. 2x 1-year extensions in Apr. 2012/13* New Maturity April 2018* Credit Facility (RSCF) Undrawn Fully committed by 39 banks* No financial covenants No MAC clause € 7.2 bn EMTN programme & USD Bond (144A/RegS)
Slide 25: Net Cash Position
Net Cash Position 25 in € m Sep. 2013 Dec. 2012 Gross Cash 12,463 17,071 Financing Debts Short-term Financing Debts (2,870) (1,273) Long-term Financing Debts (4,349) (3,506) Reported Net Cash 5,244 12,292 Airbus non-recourse debt 262 345 Net Cash excl. non-recourse 5,506 12,637
Slide 26: Customer Financing Exposure
Customer Financing Exposure 26 €m 100% Airbus 50% ATR 100% Eurocopter Sep. 2013 Dec. 2012 Sep. 2013 Dec. 2012 Sep. 2013 Dec. 2012 Closing rate € 1 = $ 1.35 $ 1.32 Total Gross exposure 1,384 1,139 58 74 79 84 of which off-balance sheet 99 124 41 45 9 12 Estimated value of collateral (1,061) (741) (52
Slide 27: Airbus Customer Financing
Airbus Customer Financing 27 Active exposure management Additions and Disposals Net Exposure fully 2.5 to Airbus customer financing gross exposure in $ bn provisioned Additions Sell Down Amortisation 1.5 Net 1.5 Exposure 1.4 0.6 0.8 0.6 0.7 0.5 1.0 0.3 € 0.3 bn 0.5 1.5 0.9 0.8 0.6 0.4 0.5 Gross (0.9
Slide 28: Shareholding Structure as at 30 September 2013
Shareholding Structure as at 30 September 2013 28 New Shareholder Agreement 0.4% 12.0% SOGEPA 26.85% 10.7% GZBV* SEPI 4.1% 72.8% Free Float Institutional Investors & Retail** Treasury shares*** (without economic or voting rights) Number of shares outstanding as of 30 September 2013 is 779,479,422 *
Slide 29: Balance Sheet Highlights: Assets
Balance Sheet Highlights: Assets 29 in € m Sep. 2013 Dec. 2012 * Non-current Assets 46,258 46,778 of which Intangible & Goodwill 13,657 13,422 of which Property, plant & equipment 15,555 15,196 of which Investments & Financial assets 4,926 4,777 of which positive hedge mark-to-market 1,499 1,197 of
Slide 30: Balance Sheet Highlights: Liabilities
Balance Sheet Highlights: Liabilities 30 in € m Sep. 2013 Dec. 2012 * Total Equity 10,102 10,428 of which OCI (Other Comprehensive Income) 2,326 1,513 of which Non-controlling interests 39 25 Total Non-current liabilities 34,529 33,031 of which pensions 6,444 6,158 of which other provisions 3,665 3,
Slide 31: Quarterly Revenues Breakdown (cumulative)
Quarterly Revenues Breakdown (cumulative) 31 €m Q1 H1 9m FY 2012 2012 2012 2012 2012 2012 2012 2012 2013 2013 2013 2013 pro forma reported pro forma reported pro forma reported pro forma reported Airbus Division 9,181 8,019 7,909 18,924 17,525 17,246 28,770 26,051 25,621 39,273 38,592 t/o Airbus Com
Slide 32: Quarterly EBIT* Breakdown (cumulative)
Quarterly EBIT* Breakdown (cumulative) 32 €m Q1 H1 9m FY 2012 2012 2012 2012 2012 2012 2012 2012 2013 2013 2013 2013 pro forma reported pro forma reported pro forma reported pro forma reported Airbus Division 456 172 183 1,093 563 553 1,502 844 837 1,252 1,230 t/o Airbus Comm.* 463 135 146 1,092 558
Slide 33: Quarterly Order Intake Breakdown (cumulative)
Quarterly Order Intake Breakdown (cumulative) 33 €m Q1 H1 9m FY 2012 2012 2012 2012 2012 2012 2012 2012 2013 2013 2013 2013 pro forma reported pro forma reported pro forma reported pro forma reported Airbus Division 47,337 7,938 7,877 90,351 21,164 20,955 127,062 40,909 40,659 88,909 88,142 t/o Airb
Slide 34: Quarterly Order Book Breakdown
Quarterly Order Book Breakdown 34 €m March June September December 2012 2012 2012 2012 2012 2012 2012 2012 2013 2013 2013 2013 pro forma reported pro forma reported pro forma reported pro forma reported Airbus Division 574,527 482,289 480,322 595,792 508,158 506,120 602,284 504,569 502,680 525,482 5