Slide 1: Annual General Meeting
Slide 2: Agenda
AGENDA Acceptance and approval of the Report of the Board of Directors Adoption of the accounts for the financial year 2001 Approval of the result allocation, distribution and payment date of dividends Release from liability of the members of the Board of Directors Renewal of the appointment of the
Slide 3: Amsterdam - May 17th, 2002
Amsterdam - May 17th, 2002 Philippe Camus CEO - Rainer Hertrich CEO
Slide 4: 2001 achievements, Financials, Roadmap for the future
1. 2001 achievements 2. Financials 3. Roadmap for the future
Slide 5: Key events 2001
Key events 2001 n Airbus integrated company formed n MBDA created: 2nd largest missile company world-wide n A380 success: 97 firm orders and commitments, including 37 post Sept 11th events n A400M: largest order in EADS history n Export successes for Eurocopter's NH90 and TIGER Strong business devel
Slide 6: A world leader
A world leader Revenues 2001 - consolidation in €bn* Boeing 64.7 EADS 30.8 n° 2 world-wide in 2001 Lockheed- 26.7 n° 1 in Europe Martin Raytheon 18.8 BAE Systems 17 Thales 10.3 * 1 € = 0.88 $ 1 £ =1.64 €
Slide 7: 2001: Exceeding on our promises
2001: Exceeding on our promises 2001 Financial targets 2001 Achievements • Book-to-bill > 1 Book-to-bill = 2, excluding A400M • Revenues +20 % Revenues +27%, despite civil aviation downturn • EBIT* +15% EBIT* +21%, in spite of difficult situation at DCS and at Space Synergies exceeding € 100 m • Syn
Slide 8: 2001 Financial Highlights
2001 Financial Highlights 2001 Actual (Airbus 100% consolidated) change from 2000 pro-forma** organic Revenues € 30.8 bn + 27% + 10% EBIT * € 1.7 bn + 21% + 5% Net cash position € 1.5 bn € 2.1 bn in 2000** EPS € 1.70 (€ 2.34) in 2000 EPS * € 1.16 (€ 0.06) in 2000 Order intake € 60.2 bn + 23% + 4% Or
Slide 9: EADS Revenues Breakdown
EADS Revenues Breakdown 2001 revenues 2001 revenues by division military/civil Military Space Transport Aircraft Military 2% Defence 8% & Civil Systems 20% 10% 16% 64% 80% Aeronautics Airbus Civil A strong business base
Slide 10: Airbus 2001 performance and key drivers
Airbus 2001 performance and key drivers €m pro-forma** Actual 2000 2001 n 2001 backlog =1575 ac, net of distressed airlines orders Deliveries (in units) 311 325 n Feedback from customers => Revenues 14,856 20,549 300 deliveries in 02 R&D self-financed 920 1,630 n A380 on track: commercial in % of re
Slide 11: MTA 2001 performance and key drivers
MTA 2001 performance and key drivers €m pro-forma Actual n Positive EBIT in 2001 2000 2001 n Ramp up of C-295 Revenues 316 547 deliveries R&D self-financed 59 53 n C-295 selected by Poland in % of revenues 18.7% 9.7% and Abu Dhabi EBIT* -63 1 n CN-235 platform selected by in % of revenues -19.9% 0.2
Slide 12: Aeronautics 2001 performance and key drivers
Aeronautics 2001 performance and key drivers €m pro-forma Actual n Civil helicopters: world-wide 2000 2001 market share up to 57%; Revenues 4,704 5,065 security forces new needs R&D self-financed 128 132 n Military helicopters: in % of revenues 2.7% 2.6% successes on export markets worth €1.6bn in t
Slide 13: Space 2001 performance and key drivers
Space 2001 performance and key drivers €m pro-forma Actual Restructuring on track: 2000 2001 n New management put in place Revenues 2,535 2,439 n 3 integrated businesses R&D self-financed 61 60 Launchers, satellites, services in % of revenues 2.4% 2.5% n Accelerating cost cutting and EBIT* 67 (222)
Slide 14: Defence and Civil Systems 2001 performance and key drivers
Defence and Civil Systems 2001 performance and key drivers n EBIT positive in H2 2001; on €m pro-forma Actual track with target 2000 2001 Revenues 2,909 3,345 n On-going restructuring R&D self-financed 161 173 n MBDA creation effective in % of revenues 5.5% 5.2% n Main missiles programs: end of EBIT
Slide 15: 2001 achievements, Financials, Roadmap for the future
1. 2001 achievements 2. Financials 3. Roadmap for the future
Slide 16: Profit & loss highlights
Profit & loss highlights Pro forma 2000** Actual 2001 in % of in % of € million revenues € million revenues Revenues 24,208 30,798 Self-financed R&D 1,339 5.5% 2,046 6.6% EBIT * 1,399 5.8% 1,694 5.5% Operating income after goodwill/exceptional 200 0.8% 2,514 8.2% Financial result (1,315) (5.4%) (513
Slide 17: Balance sheet
Balance sheet € million Dec. 2001* Dec. 2000 Fixed Assets 25,364 20,894 of which intangible assets/ goodwill 10,588 8,165 of which property, plant & equipment 10,050 8,120 of which financial assets 4,726 4,609 Current Assets 18,318 16,745 of which cash & equivalents,securities 8,033 7,922 of which w
Slide 18: EADS stock price development since IPO
EADS stock price development since IPO EADS Basis 100 Stock price 160 2000 2001 2002 140 € 24.5 120 € 21 100 € 17.5 80 € 14 60 € 10.5 40 Jul Aug. Sep Oct. Nov Dec Jan Feb Mar Apr May Jun Jul. Aug. Sep Oct. Nov Dec Jan. Mar Apr May 10 16 EADS CAC DAX IBEX Despite civil aviation downturn, EADS outperf
Slide 19: Q1 2002 Financial Highlights
Q1 2002 Financial Highlights €m Q1 2002 Q1 2001 Change Order Intake 3,807 18,864 (80%) Revenues 6,408 6,276 +2% EBIT * 315 310 +2% EPS * in € 0.17 0.14 +21% Free Cash Flow 94 232 (59%) €m Q1 2002 31. Dec 2001 Change Net cash position 1,643 1,533 +7% Total backlog 179,544 183,256 (2%) * pre-goodwill
Slide 20: 2001 achievements, Financials, Roadmap for the future
1. 2001 achievements 2. Financials 3. Roadmap for the future
Slide 21: Roadmap for the future
Roadmap for the future n Manage the civil aviation market changes through immediate actions and outstanding resistance: strong order book, production organization flexibility, market share gains n Defence business growth will create value: large programmes in order book, entering production phase, o
Slide 22: 2002 Financial targets
2002 Financial targets n Book-to bill ratio > 1 n Order book expected to grow > € 190 bn n Revenues forecast to hold solidity at about the current level (-2% from 2001 using constant US$) despite difficult aviation business environment n EBIT* margin pre-R&D maintained at around the same level as in
Slide 23: EADS strong and resilient
EADS strong and resilient n Actively protecting profitability and cash n Value creation and recurring savings on track n Future growth secured by unparalleled backlog n Strong Defence business growth to enhance future profitability