EADS first-quarter revenues of EUR 6.3 billion in line with business plan
CEOs: "Based on current exchange rates, EADS should increase revenues by 20 % in 2001"
Amsterdam, 10 May 2001
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EADS European Aeronautic Defence and Space Company (stock exchange symbol: EAD) continues its strong growth path. Europe's largest aerospace company announced at its first Annual General Shareholders Meeting on May 10 in Amsterdam, that its first-quarter revenues of EUR 6.3 billion are in line with the EADS business plan.
Order intake between January and March 2001 reached EUR 18.9 billion, resulting in an order backlog of EUR 169.7 billion on March 31, 2001, with full consolidation of Airbus. This backlog covers nearly six years of revenues. At year-end 2000 order backlog had amounted to EUR 131.9 billion, including EADS' 80% stake in Airbus. The increase in order intake was particularly strong in the Airbus division, with 117 new firm orders.
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Philippe Camus and Rainer Hertrich, CEOs of EADS, stated that: "Revenues and order intake for the first quarter reaffirm our excellent growth prospects. They confirm our expectations of profitable growth for the full year of 2001." The CEOs added, "If the current level of the Euro/Dollar exchange rate continues for the remainder of the year, we should achieve a revenue increase of 20 %. Our earlier forecast of 15 % was based on a more conservative exchange rate assumption. The prediction for Earnings before Interest and Taxes (EBIT, before goodwill and exceptional items) is at an expected growth rate of approximately 15 %." According to the CEOs, "This EBIT increase would be achieved after absorption of the development costs in 2001 related to the launch decision of the A380 Superjumbo. These costs are in line with the initial expectations, and the time schedule of this project is fully on track."
The revenue shares of the EADS divisions in the first quarter 2001 were as follows:
| Revenues in millions of EUR | 1st Quarter / January-March 2001 |
| Airbus (100 %) | 4,600 |
| Military Transport Aircraft | 70 |
| Aeronautics | 883 |
| Space | 402 |
| Defence and Civil Systems | 589 |
| Eliminations | - 268 |
| Total | 6,276 |
As EADS was incorporated in July 2000, no comparable figures for the first quarter of 2000 are available. In the figures for the first quarter 2001, Airbus has been included at 100 % for the first time.
Airbus delivered 79 aircraft in the first quarter, compared to 65 in the first quarter 2000. Since the beginning of this year, Airbus is already operating as an integrated company.
The Military Transport Aircraft division's major future project, the A400M, is still in its pre-development phase. The go-ahead of European governments for 229 aircraft is expected at the Le Bourget Air Show.
At the Aeronautics division, a positive impact on revenues came from Eurocopter, with full scale deliveries of the EC 135 helicopter.
Revenues at the Space division were lower than expected due to delays in the deliveries of Ariane launchers and lower sales by Astrium, which will be recuperated during the course of this year.
At the Defence and Civil Systems division, revenues were higher than expected. However, the defence market remains difficult due to governmental budget constraints in Europe, especially in Germany.
With annual pro forma revenues of EUR 24.2 billion in 2000, EADS is the leading aerospace and defence company in Europe and the third largest worldwide. EADS is listed at the Frankfurt, Madrid and Paris Stock Exchanges. Following the full consolidation of Airbus since January 2001, EADS now has a workforce of 100,600 employees, including 9,900 from Airbus UK in Great Britain.
Contact:
Eckhard Zanger EADS
Communications Finance
Tel. +49 89 607 27961
