Slide 1: The momentum continues
The momentum continues Philippe Camus - Rainer Hertrich, CEOs Axel Arendt, CFO Conference call - Amsterdam - March 18th, 2002 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management’s beliefs. These statements reflect the Company’s views and assumptions as of the dat
Slide 3: 2001 Overview; Operating performance; Financials; Outlook
1. 2001 Overview 2. Operating performance by activity 3. Financials 4. Outlook 3 3 Conference call - Amsterdam - March 18th, 2002
Slide 4: 2001 A Year of achievements
2001 A Year of achievements Exceed all growth targets ; EBIT +21% ■ protected cash and profitability Substantially grew defence business across EADS ■ Revenues 01: € 6.1 bn ; Backlog: €18 bn ; Revenues growth 50% by 2004 Stabilised commercial A/C business despite Sept 11th ■ Deliveries expected in 0
Slide 5: 2001: Exceeding on our promises
2001: Exceeding on our promises 2001 2001Financial Financialtargets targets 2001 2001Achievements Achievements •• Book-to-bill Book-to-bill Book-to-bill==22,,excluding excludingA400M Book-to-bill>>11 A400M •• Revenues Revenues+20 +20% % Revenues Revenues+27%, +27%,ininspite spiteof ofcivil civil avi
Slide 6: 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% Free Cash Flow *** 0.8 € bn € 1.5 bn in 2000 EPS * 1.16 € (0.06 €) in 2000 New orders 60.2 € bn + 23% + 4% Total backlog 183.3 € bn + 39% +
Slide 7: 2001: Operating performance improvement across all the board
2001: Operating performance improvement across all the board including non- Revenues EBIT*** recurring expenses 2001 change 2001 2000 Airbus* 20.5 €bn + 38% 1,655€m 1,412€m MTA ** 0.5 €bn + 73% 1€m (63€m) Aeronautics** 5.1 €bn +8% 308€m 296€m Space** 2.4 €bn (4%) (222€m) 67€m DCS ** 3.3 €bn +15% (79
Slide 8: EADS regional breakdown
EADS regional breakdown pro-forma 2000 Revenues pro-forma 2001 Revenues regional breakdown regional breakdown Rest of the World Rest of the World Asia 10% Asia 11% 9% 10% 53% Europe 45% Europe 28% 34% North North America America 8 A strong business base 8 Conference call - Amsterdam - March 18th, 20
Slide 9: Synergies: Value added achievements ahead of plans
Synergies Value added achievements ahead of plans 2001 breakdown by division Aeronautic 6% DCS e2004 21% Space 7% Airbus MTA 3% 63% e2002 600 2001 breakdown by source €m Purchasing Others : 29% value added R&D, Added 300 production, 71% efficiencies... 2001 €m >100 €m Further improvement of EADS cos
Slide 10: Operating performance by activity
1. 2001 Overview 2. Operating performance by activity 3. Financials 4. Outlook 10 10 Conference call - Amsterdam - March 18th, 2002
Slide 11: Airbus 2001 performance and key drivers
Airbus 2001 performance and key drivers €m pro-forma** Actual ■ 2001 backlog =1575 ac , net of 2000 2001 distressed airlines orders Deliveries (in units) 311 325 ■ Revised backlog with customers (post- Sept 11) secures deliveries Revenues 14,856 20,549 at 300 in 2002 R&D self-financed 920 1,630 ■ A3
Slide 12: MTA 2001 performance and key drivers
MTA 2001 performance and key drivers €m pro-forma Actual ■ Positive EBIT in 2001 2000 2001 ■ Ramp up of C295 deliveries Revenues 316 547 ■ C295 selected by Poland and Abu Dhabi R&D self-financed 59 53 in % of revenues 18.7% 9.7% ■ C235 platform selected by Boeing for Deep Water EBIT* -63 1 contract
Slide 13: Aeronautics 2001 performance and key drivers
Aeronautics 2001 performance and key drivers €m pro-forma Actual ■ Civil helicopters: increased world- 2000 2001 wide civil market share to 57%; security forces new needs Revenues 4,704 5,065 ■ Military helicopters : outstanding R&D self-financed 128 132 successes on export markets in % of revenues
Slide 14: Space 2001 performance and key drivers
Space 2001 performance and key drivers €m pro-forma Actual Restructuring on track : 2000 2001 ■ New management put in place with business now refocused Revenues 2,535 2,439 ■ 2 integrated businesses R&D self-financed 61 60 Launchers and satellites in % of revenues 2.4% 2.5% ■ Accelerating cost cutti
Slide 15: Defence and Civil Systems 2001 performance and key drivers
Defence and Civil Systems 2001 performance and key drivers €m pro-forma Actual ■ EBIT loss reduced from 2000; 2000 2001 EBIT positive in H2 2001; on track with target Revenues 2,909 3,345 ■ On-going restructuring R&D self-financed 161 173 ■ MBDA creation effective in % of revenues 5.5% 5.2% ■ Main m
Slide 16: Financials
1. 2001 Overview 2. Operating performance by activity 3. Financials 4. Outlook 16 16 Conference call - Amsterdam - March 18th, 2002
Slide 17: Management Focus
Management Focus Management focused on C Cost savings C Synergies C Cash management C Improving ROI on Defence business 17 17 Conference call - Amsterdam - March 18th, 2002
Slide 18: Profit & loss highlights
Profit & loss highlights €m 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% EBITDA* 2,334 9.6% 3,213 10.4% EBIT * 1,399 5.8% 1,694 5.5% Operating income after goodwill/exceptional 200 0.8% 2,514 8.2% Fi
Slide 19: Goodwill and exceptionals
Goodwill and exceptionals €m Value as Annual amortisation charge of Dec. amortisation 31, 2001 2000 2001 e2002* period Extraordinary gain from Airbus creation 0 2,537 0 na Extraordinary gain from MBDA creation 0 257 Goodwill 10,442 (429) (1,466) (680) 20 yrs - of which normal amortization (429) (676
Slide 20: Development of net cash
Development of net cash € million pro-forma Actual 2000 2001 Net cash position of previous year (946) 2,143 Change in debt due to Airbus 100% consolidation (838) Net cash position as of January 1st 2001 1,305 Cash flow from operations 1,699 2,654 Cash from Working capital reduction 1,460 2 Cash used
Slide 21: Dividend policy
Dividend policy We Wepropose proposeto topay pay€€404 404m* m*as asdividend dividendfor for2001 2001as asaaresult resultof of our ourstrong strongcommercial commercialsuccess success EADS Dividend per share 0,6 0,5 0,5 0,5 0,4 0,3 0,2 0,1 0 2000 2001 Dividend/Share (€) * subject to AGM approval on M
Slide 22: Outlook
1. 2001 Overview 2. Operating performance by activity 3. Financials 4. Outlook 22 22 Conference call - Amsterdam - March 18th, 2002
Slide 23: 2002 Financial targets
2002 Financial targets ■ Book-to bill ratio > 1 ■ Backlog expected to grow > € 190 bn ■ Revenues forecast to hold solidity at about the current level (-2% from 2001using constant US$) despite difficult aviation business environment ■ EBIT* margin pre-R&D maintained around 12%. By including higher R&
Slide 24: EADS: strong and resilient
EADS:strong and resilient Actively protecting profitability and cash Value creation and recurring savings on track future growth secured by unparalleled backlog Strong Defence business growth to enhance future profitability 24 24 Conference call - Amsterdam - March 18th, 2002
Slide 25: ANNEXE
ANNEXE 25
Slide 26: ANNEXE: Balance sheet
ANNEXE : 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