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Airbus — Non-Deal Roadshow (February 2020)
21 slides from Airbus's roadshow presentation, February 2020
Slide 1: FY 2019 Roadshow Presentation
February 2020 FY 2019 Roadshow Presentation
Slide 2: Safe Harbour Statement
Safe Harbour Statement 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 s
Slide 3: FY 2019 Key Topics
FY 2019 Key Topics 3 Record commercial aircraft deliveries Strong underlying financial performance, FY 2019 Guidance achieved € -3.6 bn penalties recognised for agreements with authorities A400M: € -1.2 bn charge; export assumptions revised EBIT reported € 1.3 bn, EPS reported € -1.75 Di
Slide 4: Airbus at a Glance – as of FY19 as reported
Airbus at a Glance – as of FY19 as reported 4 Deliveries by Programme (Units) Consolidated Airbus A220 6% External Revenue by Division Passenger Aircraft, A320 74% A330 6% Freighter Conversion, A350 13% Services A380 1% Helicopters External Revenue Split € 70.5 bn Platforms 57% t/o defence Civil / P
Slide 5: FY 2019 Commercial Positioning
FY 2019 Commercial Positioning 5 Airbus Commercial Aircraft Consolidated Airbus Order Book in units by Programme Order Book in value by Region A220 7% Asia Pacific 31% A320 81% Europe 28% A330 4% € 471 bn North America 18% 7,482 units A350 8% t/o defence Middle East 9% € 38 bn A380 0% Latin America
Slide 6: Market Demand
Market Product FY19 Demand Positioning Review FY 2019 Roadshow Presentation
Slide 7: A Robust Commercial Aircraft Environment
A Robust Commercial Aircraft Environment 7 4.3% 25,000 annual Grow growth 39,210 Deliveries 14,210 22,680 Replace Fleet in service 8,470 ~39k Stay New deliveries 2019 2038 Strong & Resilient passenger traffic growth: ~40% of deliveries for replacement, ~60% for growth Notes: Passenger aircraft (≥100
Slide 8: Long-Term Growth Fuelled by Middle-Class Expansion in Emerging Economies
Long-Term Growth Fuelled by Middle-Class Expansion in Emerging Economies 8 2018 trips per capita Bubble size proportional to population 100 Africa Asia/Pacific CIS Europe 10 Latin America Middle East North America 2018 real GDP per capita 1 (2015 $US thousands at Purchasing Power Parity) 0 50 100 15
Slide 9: Product Positioning
Market Product FY19 Demand Positioning Review FY 2019 Roadshow Presentation
Slide 10: Competitive Aircraft Portfolio Underpins Record Backlog
Competitive Aircraft Portfolio Underpins Record Backlog 10 Solid and well diversified Backlog* 7,482 aircraft 23% 16% 17% 12% Europe & CIS 8% 42% North 6% 29% America Middle-East Asia Pacific 9% 7% 1% 3% Latin Africa 19% America % Backlog as of end of December 2019 Lessors % Share of 2019-2038 new d
Slide 11: Steady Ramp-Up in a Robust Commercial Environment
Steady Ramp-Up in a Robust Commercial Environment 11 Backlog O&D 8,000 1,600 7,000 1,400 6,000 1,200 5,000 1,000 4,000 863 800 800 3,000 688 718 600 626 629 635 588 498 510 534 2,000 453 483 400 434 378 1,000 320 200 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Slide 12: Key Programme Update
Key Programme Update 12 105 aircraft in operation. Backlog of 495 aircraft A220 Focusing on cost reduction and growing the backlog to support ramp up plan Airbus increased its holdings in ACLP to 75% Backlog of 6,000+ aircraft supports our ramp-up Progressing on A321 ACF ramp-up which rema
Slide 13: Helicopters – Market and Product Positioning
Helicopters – Market and Product Positioning 13 Civil & Parapublic Military Aircraft Demand impacted by softness in O&G Military market supported by growing Defence budgets MARKET LT market potential: ~ 22k new h/c in next 20 years Key successes with international campaigns in 2019 Innovat
Slide 14: Defence and Space – Market and Product Positioning
Defence and Space – Market and Product Positioning 14 Military Aircraft Space Systems Connected Intelligence Unmanned Aerial Systems Geopolitical instability leading to Space spending on the rise National sovereignty and industry Strong need for investment and increased security needs demand
Slide 15: FY19 Review
Market Product FY19 Demand Positioning Review FY 2019 Roadshow Presentation
Slide 16: FY 2019 Financial Performance
FY 2019 Financial Performance 16 Revenues EBIT Adjusted in € bn in € bn / RoS (%) 9.9% 9.2% 63.7 70.5 6.9 5.8 FY 2018 FY 2019 FY 2018 FY 2019 EPS(1) Adjusted FCF before M&A and Customer Financing in € in € bn 6.07 3.5 5.22 2.9 FY 2018 FY 2019 FY 2018 FY 2019 (1) FY 2019 Average number of shares: 777
Slide 17: FY 2019 Profitability
FY 2019 Profitability 17 EBIT Performance in € bn FY 2019 EBIT Reported of € 1.3 bn FY 2019 Adjustments resulting from: € -3,598 m Penalties 6.9 € -1,212 m A400M charge 5.8 5.0 € -221 m Defence export ban 1.3 € -202 m A380 programme cost EBIT Adjusted EBIT Reported € -170 m PDP mismatc
Slide 18: Currency Hedge Policy
Currency Hedge Policy 18 IN $ BILLION Forward Sales as of Dec. 2019 1.0 1.6 Collars as of Dec. 2019 Forward Sales and Collars as of Dec. 2018 24.0 24.5 22.1 20.7 14.9 12.4 Average hedge rates 2019 2020 2021 2022 2023 2024 and beyond € vs $ 1.24 1.20 1.23 1.23 1.24 1.27 Forwards/Collars (2) ( 1.23 fo
Slide 19: FY 2019 Cash Evolution
FY 2019 Cash Evolution 19 IN € BILLION -1.4 -2.0 -0.1 +7.0 -1.3 -1.6 -1.4 Impact from the penalties netted 13.3 12.5 Free Cash Flow before M&A: € + 3.6 bn t/o Customer Financing € 0.1 bn Free Cash Flow before M&A and Customer Financing € + 3.5 bn Net Cash Position IFRS 16 Implementation Gross Cash C
Slide 20: 2020 Guidance and Dividend Proposal
2020 Guidance and Dividend Proposal 20 As the basis for its 2020 guidance, Airbus assumes: ‒ the world economy and air traffic to grow in line with prevailing independent forecasts, which assume no major disruptions, including from the coronavirus ‒ the current tariff regime to remain unchanged Airb
Slide 21: Key Priorities
Key Priorities 21 Stabilising the A320 industrial flow Leveraging A220 commercial momentum and reducing recurring cost Improving A350 profitability and adapting A330 rates Capturing growth in military helicopter and services Adapting Defence and Space and Premium AEROTEC cost structure P