While work on the completion of the 2006 consolidated financial results is still ongoing, EADS management is estimating that the Airbus Division will probably deliver a negative EBIT* contribution for the full year.
Certain one time charges in relation to settlements with customers, impairment of assets, or financial impacts of Power8 originally expected to occur in 2007 and after are now foreseen to be recognized as early as 2006.
Furthermore, additional A380 charges not originally envisaged could apply as well.
Nevertheless, on the Group level, the estimated positive EBIT* contributions from the other EADS Divisions, which deliver as planned, should roughly balance out the estimated negative EBIT* impact of Airbus for 2006.
All such estimates of EADS management are subject to the finalisation of the 2006 financial statements' closing process and approval by the Audit Committee and the Board of Directors, expected on 8 March. The above estimates have not yet been validated by the auditors.
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EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to such items as depreciation expenses of fair value adjustments relating to the EADS merger, the Airbus Combination and the formation of MBDA, as well as impairment charges thereon.