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Financial Results & Annual Reports

Financial Results

Q1 2018 Earnings Release

Airbus held its Q1 2018 Results Release Conference Call on Fri, 27 April 2018. Find related documentation and webcast replay link below.

In addition to historical information, this website includes forward-looking statements. For further information, please refer to the Safe Harbour Statement.

Last update: 27 April 2018 09:10 (CEST)

2018

  Press Release Presentation Webcast
Financial Statements
(Short/Long Notes)
Additional
video footage
Q1 2018,
27 April 2018


 
     
IFRS 15 and New Segment Reporting: 2017 Quarterly Restatements,
09 April 2018


 

     

Full-Year 2017,
15 February 2018


 

Annual Press Conference

IFRS 15 Update,
15 February 2018

 
   

Archive

2017

  Press Release Presentation Webcast Financial Statements
(Short/Long Notes)
IFRS 15 Update,
15 February 2018
   
Full-Year 2017,
15 February 2018
 
9m 2017,
31 October 2017

H1 2017,
27 July 2017
Q1 2017,
27 April 2017
Full-Year 2016,
22 February 2017
 

2016

  Press Release Presentation Webcast Financial Statements
(Short/Long Notes)
Full-Year 2016,
22 February 2017
 
9m 2016,
26 October 2016
 
H1 2016,
27 July 2016
 
Q1 2016,
28 April 2016
 
Full-Year 2015,
24 February 2016
   

2015

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2015,
24 February 2016
 
9m 2015,
30 October 2015
H1 2015,
31 July 2015
Q1 2015,
30 April 2015
Full-Year 2014,
27 February 2015
 

2014

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2014,
27 February 2015
 
9m 2014,
14 November 2014
H1 2014,
30 July 2014
Q1 2014,
13 May 2014
Full-Year 2013,
26 February 2014
 

2013

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2013,
26 February 2014
   
9m 2013,
14 November 2013
 
H1 2013,
31 July 2013
 
Q1 2013,
14 May 2014
 
Full-Year 2012,
27 February 2013
   

2012

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2012,
27 February 2013
   
9m 2012,
08 November 2012
 
H1 2012,
27 July 2012
 
Q1 2012,
16 May 2012
 
Full-Year 2011,
08 March 2012
 

2011

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2011,
08 March 2012
 
9m 2011,
10 November 2011
 
H1 2011,
29 July 2011
 
Q1 2011,
13 May 2011
 
Full-Year 2010,
09 March 2011
   

2010

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2010,
09 March 2011
   
9m 2010,
12 November 2010
 
H1 2010,
30 July 2010
 
Q1 2010,
14 May 2010
 
Full-Year 2009,
09 March 2010
   

2009

  Press Release Presentation Financial Statements
(Short/Long Notes)
Full-Year 2009,
09 March 2010
   
9m 2009,
16 November 2009
 
H1 2009,
28 July 2009
 
Q1 2009,
12 May 2009
 
Full-Year 2008,
10 March 2009
 
 

2008

  Press Release Presentation Financial Statements
Full-Year 2008,
10 March 2009
 
9m 2008,
14 November 2008
 
H1 2008,
30 July 2008
 
Q1 2008,
14 May 2008
 
Full-Year 2007,
11 March 2008
 

2007

  Press Release Presentation Financial Statements
Full-Year 2007,
11 March 2008
 
9m 2007,
08 November 2007
 
H1 2007,
26 July 2007
 
Q1 2007,
10 May 2007
 
Full-Year 2006,
09 March 2007
 

2006

  Press Release Presentation Financial Statements
Full-Year 2006,
09 March 2007
 
9m 2006,
08 November 2006
 
H1 2006,
27 July 2006
 
Q1 2006,
16 May 2006
 
Full-Year 2005,
08 March 2006
 

2005

  Press Release Presentation Financial Statements
Full-Year 2005,
08 March 2006
 
9m 2005,
09 November 2005
 
H1 2005,
27 July 2005
 
Q1 2005,
09 May 2005
 
Full-Year 2004,
09 March 2005
 

2004

  Press Release Presentation Financial Statements
Full-Year 2004,
09 March 2005
 
9m 2004,
04 November 2004
 
H1 2004,
29 July 2004
 
Q1 2004,
12 May 2004
 
Full-Year 2003,
08 March 2004
 

2003

  Press Release Presentation Financial Statements
Full-Year 2003,
08 March 2004
 
9m 2003,
06 November 2003
 
H1 2003,
28 July 2003
 
Q1 2003,
06 May 2003
 
Full-Year 2002,
10 March 2003
 

2002

  Press Release Presentation Financial Statements
Full-Year 2002,
10 March 2003
 
9m 2002,
14 November 2002
 
H1 2002,
25 July 2002
 
Full-Year 2001,
18 March 2002
 

2001

  Press Release Presentation Financial Statements
Full-Year 2001,
18 March 2002
 
H1 2001,
20 September 2001
    
Full-Year 2000,
19 March 2001
 

2000

  Press Release Presentation Financial Statements
Full-Year 2000,
19 March 2001
 
H1 2000,
25 October 2000
   
Press Releases

Press Releases

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Guidance

In addition to historical information, this website includes forward-looking statements. For further information, please refer to the Safe Harbour Statement.

2018

As the basis for its 2018 guidance, Airbus expects the world economy and air traffic to grow in line with prevailing independent forecasts, which assume no major disruptions.

Airbus 2018 earnings and FCF guidance is based on a constant perimeter, before M&A.

  • Airbus expects to deliver around 800 commercial aircraft which depends on engine manufacturers meeting commitments

Based on around 800 deliveries:

  • Compared to 2017 EBIT Adjusted of € 4.25 bn as reported, pre-IFRS15,  Airbus expects, before M&A:
    • An increase in EBIT Adjusted of approximately 20%
    • IFRS15 is expected to further increase EBIT Adjusted by an estimated € 0.1bn
    • Therefore, Airbus expects to report EBIT Adjusted of approximately € 5.2 bn prepared under IFRS 15 in 2018
  • 2017 Free Cash Flow before M&A and Customer Financing was € 2,949m
    Free Cash Flow is expected to be at a similar level as 2017, before M&A and Customer Financing

Archive

2017

As the basis for its 2017 guidance, Airbus expects the world economy and air traffic to grow in line with prevailing independent forecasts, which assume no major disruptions.

Airbus 2017 earnings and FCF guidance is based on a constant perimeter:

2017 Guidance

  • Airbus expects to deliver more than 700 commercial aircraft which depends on engine manufacturers meeting commitments
  • Before M&A, Airbus expects mid-single-digit % growth in EBIT Adjusted and EPS Adjusted compared to 2016
  • Free Cash Flow is expected to be similar to 2016 before M&A and Customer Financing

The perimeter change in Defence and Space is expected to reduce EBIT Adjusted and Free Cash Flow before M&A and Customer Financing by around € 150 million and EPS Adjusted by around € 14 cents

2016

2016 Guidance

  • Airbus expects to deliver more than 650 aircraft and the commercial order book is expected to grow.
  • Before M&A, Airbus Group expects stable EBIT* before one-off and EPS* before one-off compared to 2015.
  • Before M&A and Customer Financing, Airbus Group expects to deliver stable Free Cash Flow compared to 2015.

The perimeter change in Airbus Defence & Space implemented at H1 2016 is expected to reduce EBIT* before one-off and Free Cash Flow before M&A by around € 200 million and EPS* before one-off by around 20 cents.

* Pre-goodwill impairment and exceptionals

2015

FY 2015 Target

  • As the basis for its 2015 guidance, Airbus Group expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruptions
  • Airbus deliveries should be slightly higher than in 2014, and the commercial aircraft order book is expected to grow
  • In 2015, before M&A, Airbus Group expects an increase in revenues and targets a slight increase in EBIT before one-off
  • Based on our current view of the industrial ramp up, Airbus Group targets breakeven Free Cash Flow in 2015 before M&A
  • Airbus Group targets its EPS and DPS to increase further in 2015

2014

Key Performance Indicator FY 2014 Target (as of 14 November)
Airbus Orders & Deliveries
  • Airbus deliveries about the same level as 2013 including 1st A350 (2013: 626 a/c)
  •  
  • Net book to bill > 1
  •  
Revenues
  • Airbus Group targets revenues to be stable with 2013**
EBIT* before one-off
  • Using EBIT before one off, Airbus Group expects a moderate RoS growth in 2014***
  •  
  • The 2015 RoS target of 7% to 8% is unchanged pre A330neo development which
    is assessed to have a net impact of around -70 bps in 2015
  •  
EBIT* and EPS*
  • The EBIT* and EPS* performance of Airbus Group will be dependent on the Group’s ability to limit “one-off” charges
  •  
  • Going forward, from today’s point of view, the one-offs should be limited to potential charges on the A350 XWB programme and foreign exchange effects linked to PDP
  • mismatch and balance sheet revaluation
  •  
  • A350 XWB remains challenging. Any change to schedule and cost assumptions
    could lead to an increasingly higher impact on provisions
  •  
  • A400M negative cost and risk evolution mostly driven by military functionalities challenges, delays in aircraft acceptance and industrial ramp-up together with associated mitigation actions are under assessment and will be finalised for the 2014 full year accounts
Free Cash Flow before Acquisitions
  • Airbus Group is targeting breakeven Free Cash Flow before Acquisitions

2013

  Target as of 14 November as of 31 July as of 20 May as of 27 Feb
Revenues above 2012 level
- - -
Airbus deliveries
up to 620 commercial aircraft
- - 600-610
Airbus gross orders
above 1,200
>1,000
800
> 700
EBIT* before one-off
3.5bn€
- - -
EPS before one-off
(prior proposed buyback)
€ 2.50
(above 2012 level: €2.24)
- - -
Free cash flow
(before acquisitions)
(1.5) bn€, at 1€ = 1.35$
- - breakeven

 

Based on the 9m 2013 results, EADS reaffirms its full year guidance for all KPIs except the order intake and deliveries at Airbus Commercial which have been increased further.
The expected free cash flow is updated as well, with a negative level of 1.5 billion € (at EURUSD =1.35)

As the basis for EADS 2013 guidance, EADS expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruptions.

In 2013, gross commercial aircraft orders should be above 1,200 aircraft.
Airbus deliveries should continue to grow up to 620 commercial aircraft

Due to lower A380 deliveries assuming an exchange rate of €1:$1,35, EADS revenues should see moderate growth in 2013.

By stretching the 2012 underlying margin improvement, in 2013 EADS targets and EBIT before one off of 3.5 billion euros and an EPS before one off of around €2,50 [FY 2012 €2,24], prior to the share buyback.

A350 XWB remains challenging. Any schedule change could lead to an increasingly higher impact on provisions.

An assessment of the need for potential one-off costs from the creation of Airbus Defence and Space will need to be conducted in the last quarter of 2013.

EADS aims a  Free Cash Flow of (1.5) Billion euros after customer financing and before acquisitions.

* Airbus Group 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.

2012

  Targets
Revenues above 2011 level (+10%)
Airbus deliveries around 580 commercial aircraft
Airbus gross orders above deliveries
EBIT* before one-off increasing above 2.7 bn€
EPS before one-off above €1.95 (above 2011 level : €1.39)
Free cash flow (before acquisitions) Positive at 1€ = 1.30$, with 30 A380 deliveries

As the basis for EADS’ 2012 guidance, EADS expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruption due to the current euro crisis.

As EADS’ nine-month results confirm its growth and improvement trend, the Group reaffirms with increased confidence its 2012 earnings guidance.

In 2012, Airbus should deliver around 580 commercial aircraft, including 30 targeted A380 deliveries.

Gross orders should be above the number of deliveries, in the range of 600 to 650 aircraft.

Based on an assumption of € 1 = $ 1.30, EADS 2012 revenues should grow in excess of 10 percent.

Based on the Group’s solid underlying operating performance, EADS expects 2012 Group EBIT* before one-off to be around € 2.7 billion.

As a result and with an expected tax rate for the full year of slightly below 30 percent, the EADS 2012 EPS* before one-off(4) should be around € 1.95 (FY 2011: € 1.39).

Going forward, the reported EBIT* and EPS* performance of EADS will be dependent on the Group’s ability to execute on its complex programmes such as military helicopters, A400M, A380 and A350 XWB, in line with the commitments made to customers. Reported EBIT* and EPS* also depend on exchange rate fluctuations.

Based on the targeted 30 A380 deliveries and assuming no change in government payment behaviour, EADS aims to be Free Cash Flow break-even after customer financing and before acquisitions.

* 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.

2011

  Targets
Revenues above 2010 level (+4%)
Airbus deliveries 520-530 commercial aircraft
Airbus gross orders around 1,500
EBIT* before one-off increasing (around 1.45 bn€)
EPS (at 1€ = 1.35$) above 2010 level (€0.68)
EPS before one-off around €0.90 (above 2010 level : €0.86)
Free cash flow (before acquisitions) above €1.0 bn, at 1€ = 1.35$


EADS increases its latest orders, revenues, EBIT* before one-off and Free Cash Flow guidance given in July. In 2011, Airbus should deliver 520 to 530 commercial aircraft and its gross orders should be around 1,500.

EADS 2011 revenues should increase by more than 4 percent compared to € 45.8 billion in 2010.

EADS now expects 2011 EADS EBIT* before one-off to increase compared to the 2010 level, at around € 1.45 billion thanks to better than expected underlying commercial performance.

EADS expects 2011 Earnings per Share (EPS) before one-off to be around € 0.9, above the 2010 level (€ 0.86). Going forward, reported EBIT* and EPS performance of EADS will be dependent on the Group’s ability to execute on the A400M, A380 and A350 XWB programmes, in line with the commitments made to its customers.

Reported EBIT* and EPS also depend on exchange rate fluctuations. As previously communicated, at € 1 = $ 1.35, the 2011 EPS should be above the 2010 level of € 0.68 and at € 1 = $ 1.45, it may be below.

Free Cash Flow before investment for acquisitions is now expected to be significantly above € 1 billion.

Latest reviews confirm that in 2012, the Group expects a significant improvement in its EBIT* before one-off thanks to higher volume, better pricing and improvement of A380 performance at Airbus.

* 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.

2010

  Targets
Revenues more than €44 billion
Airbus deliveries more than 500 aircraft
Airbus gross orders up to 500 aircraft
EBIT* at least €1.1 billion
EBIT* before one-off around €1.2 billion
Free cash flow before customer financing around €1.0 billion
Free cash flow above €800 million


In 2010, Airbus gross orders should be up to 500 thanks to the commercial aircraft upturn and Airbus deliveries should be slightly more than 500.

EADS’ guidance is based on an assumption of €1 = $1.35 for the Q4 2010 average rate and year-end closing spot rate.

EADS revenues should be more than € 44 billion.

At slightly more than 500 deliveries, EADS confirms its EBIT* before one-off guidance at around € 1.2 billion.

Going forward the EBIT* performance of EADS will be dependent on the Group’s ability to execute on the A400M, A380 and A350XWB programmes, in line with the commitments made to its customers.

Using the above exchange rate assumptions, EADS increases its EBIT* guidance to at least € 1.1 billion.

EADS is also increasing its Free Cash Flow guidance. Provided a sustainable year-end cash inflow of institutional and government business, the Free Cash Flow before customer financing should be around € 1 billion and Free Cash Flow after customer financing should be above € 800 million compared to the previously expected free cash outflow of around € -600 million.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charge.

2009

  Targets
Revenues roughly stable (at 1.39 $ vs. €)
Airbus deliveries around 490
Airbus gross orders up to 300
EBIT* No guidance
EBIT* before one-off around €2 billion
Free cash flow after customer financing minus € 1 billion (excluding A400M)


As in many industries, the macro-economic environment, which includes the recent oil price increases, has impacted the financials of EADS’ commercial customers. The deterioration creates a risk on the commercial delivery outlook. Nevertheless, the Group is cautiously envisaging an improvement of the economic and market conditions in the next months.

Looking ahead to 2010, the Group is still cautiously monitoring its production rates in a soft market environment. Delivery of Power8 savings, a better aircraft pricing level and further progress in space and defence will be challenged by deterioration of hedge rates and uncertainties surrounding the A380 and if unresolved in 2009 the A400M.

October 2009 figures further confirm the bottoming out of the cycle for freight and passenger traffic, notably in emerging economies. Worldwide passenger traffic has increased for the first time since November 2008.

From an economic standpoint, the continuous weakening of the dollar – although not an immediate threat in the short term thanks to the Group’s long-term hedging policy and cost-cutting initiatives – is challenging EADS’ performance because of a weakening hedge book over time. The long-term dollar level is an important driver for EADS’ earnings power over the coming years.

In a challenging market, EADS maintains its estimate for a new gross orders figure of up to 300 aircraft in 2009. Production rates remain stable. 2009 deliveries are expected to be around 490 aircraft. For 2010, EADS is still working with its customers to establish a total delivery outlook including the A380 programme. Using €1 = $1.39 (used in the previous guidance) as the average spot rate, EADS 2009 revenues should be roughly in line with the 2008 level. However, further deterioration of exchange rates in the fourth quarter could lead to slightly lower Group revenues.

Due to ongoing uncertainties on the magnitude of the potential A400M and A380 charges in the fourth quarter, EADS is not able to give a guidance for EBIT* for the full year. Under a continuation scenario, which is deemed the most probable, the A400M provision for which €2.4 billion in charges have already been accrued has a wide range of possible outcomes depending on the negotiation process and could substantially alter the financial statements of EADS in the future.

EBIT* before one-off for full-year 2009 should amount to around €2 billion. In a difficult environment, the Group’s Cash Flow management continues to deliver better results than expected with a cash-flow consumption now expected to be less than €1 billion (excluding A400M) including lower customer financing needs than anticipated.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charges.

2008

  Targets
Revenues above €40 bn
Airbus deliveries above 470 aircraft
Airbus orders above 850 aicraft
EBIT* above € 1.8 bn
(detailed conditions see below)
Free cash flow before customer financing at above € 2 bn


The EADS guidance is based on a closing spot rate at year-end 2008 of € 1 = US$ 1.45.

EADS expects Airbus to capture orders for more than 850 new aircraft in 2008.

Forecasted EADS revenues growth to more than € 40 billion in 2008 is unchanged, with over 470 aircraft deliveries for the full year.

With an EBIT* of € 2.0 billion in the first nine months of 2008, EADS should exceed its full-year EBIT* guidance of € 1.8 billion (at € 1 = US$ 1.45) based on the strong underlying performance. This excludes any additional impact for the A400M, due to the uncertainties of the programme.

The variation of the closing €/US$ spot rate at year-end relative to that of end of September 2008 could have negative or positive impacts on earnings linked to the revaluation at the closing US dollar rate of some Airbus balance sheet items, including loss-making contract provisions.

Before the impact of customer financing, EADS expects 2008 Free Cash Flow at above € 2 billion while bearing in mind that this is the most volatile item to predict.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charges.

2007

  Targets
Revenues decrease by a low single-digit percentage factor
Airbus deliveries 440 to 450 aircraft
EBIT* to roughly break-even
Free cash flow over 1bn€, subject to Paradigm sell down


EADS revenues are expected to decrease very slightly in 2007 compared to 2006, based on 440 to 450 aircraft deliveries for the full year, mainly due to an assumed exchange rate of € 1 = US$ 1.40.

All other factors held equal, EADS' full year EBIT* is expected to break-even in 2007, reflecting the satisfactory results of the Group's strong legacy programmes, and a lower deterioration of delivered aircraft prices than expected.

This projection is based on the same A400M programme assumptions that underly the charge taken in the third quarter. Besides, it does not take into account the potential influence of short-term currency movements on revaluations of existing provisions.

EADS expects Free Cash Flow to surpass € 1 billion in 2007, provided the sell-down of Paradigm revenue streams from the UK MoD can be completed timely. Were this condition not met, Free Cash Flow is expected to be positive in any case.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charges.

2006

The revised A380 delivery schedule results in cumulative EBIT* shortfalls of EUR 4.8 billion compared to the margin contribution of its original baseline plan for the years 2006 to 2010 (at $1.30 per EUR 1.00).

From an Income Statement perspective, the management estimates that the A380 series production will generate a cumulative programme EBIT* loss of around EUR 2.8 billion for the years 2006 to 2010, of which approximately EUR 1.1 billion is anticipated in 2006 and approximately EUR 0.7 billion in 2007. The A380 programme shall deliver a first positive EBIT* contribution in 2010. The management estimates that the A380 programme contributions will be substantial beyond 2010.

The above 2006 programme EBIT* loss reflects an estimated EUR 0.6 billion of provisions for A380 loss making contracts. The A380 charges, and charges potentially arising from the outstanding decision on the A350 programme, as well as the amount and phasing of non recurring charges of the "Power8" programme, invalidate the previously provided 2006 EBIT* guidance. Until further notice, EADS will not issue an updated 2006 outlook. Possible contract terminations under the new A380 timetable have not been taken into account in the financial estimates.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charges.

2005

  Targets
EBIT* expected at € 2.75 bn
EPS expected around € 1.65
Revenues more than € 33 bn expected , of which defence revenues of € 8.5 bn
Free cash flow before customer financing expected to remain robust
Book-to-bill ratio above 1.0
Airbus deliveries around 370 aircraft


For the full year 2005, EADS raises its EBIT* target to € 2.75 billion, from a previous target of "more than € 2.6 billion".

The change in EBIT* outlook reflects Airbus delivery increase to 370 aircraft in 2005, most of the growth occurring in the single-aisle category. It also incorporates higher than expected losses at EADS Sogerma Services and additional charges in the Defence & Security Systems Division related to two Unmanned Aerial Vehicle (UAV) programmes in the last quarter of 2005.

EADS expects its 2005 revenues to grow to more than € 33 billion. In 2004, EADS achieved revenues of € 31.8 billion. EADS' group-wide defence revenues should increase by 10 percent during the course of the year to € 8.5 billion.

Continuing the strong cash flow generation in 2004, Free Cash Flow before Customer Financing is expected to remain robust in 2005.

2005 EPS are expected to grow to around € 1.65, based on an expected average of around 800 million shares. This EPS target is partly dependent on the 2005 US dollar closing rate. The previous EPS target was "more than € 1.50" for the full year 2005. The updated EPS guidance reflects mostly the higher EBIT* target.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charges.

2004

  Targets
EBIT*
expected at € 2.2 bn
Revenues
expected at € 32 bn
Free Cash Flow before
customer financing

above the nine months level
Book-to-bill ratio
(Orders/Revenues)

above 1.0



EADS has increased its 2004 EBIT* target to € 2.2 billion, up from € 2.1 billion previously. Its 2004 revenue target grew to € 32 billion (previously at € 31 billion), based on an average exchange market rate of € 1 = $ 1.23 (previously at $ 1.20).

Following recent improvements in market demand, EADS expects Airbus to deliver at least 315 aircraft in 2004 (2003: 305).

From January to September 2004, Airbus has already delivered 224 aircraft but during the last quarter Airbus deliveries will have a less favourable aircraft mix with a lower delivery proportion of A330/A340 family aircraft than in the first nine months. The A380 programme is on schedule for first flight in the first quarter 2005 and for entry into service in the second quarter of 2006.

EADS expects the Military Transport Aircraft, Aeronautics and Defence and Security Systems Divisions to contribute stronger results in the last quarter of the year.

EADS maintains its full-year target of receiving an order intake in excess of revenues.

In addition, EADS now forecasts full year Free Cash Flow (FCF) before customer financing will be above the nine months level exceeding the previous guidance of a “breakeven FCF”. EADS also expects full year customer financing to be much lower than had been expected.

* EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to income or expenses of a non-recurring nature, such as amortization expenses of fair value adjustments relating to the EADS merger, the formation of Airbus S.A.S. and the formation of MBDA, and impairment charges.

Annual Reports

Annual Report 2017 – Connecting the skies

 
11 January 2018

Airbus Highlights 2017

2017 was a year to remember at Airbus. The company delivered on its commitments, strengthened its customer focus, enhanced its social responsibility, shaped the future of aviation, and made marked progress on transforming into a digital leader. Watch the highlights in this video, and keep following Airbus as it gets set to break more records in 2018.

Read more

2017 was a year to remember at Airbus. The company delivered on its commitments, strengthened its customer focus, enhanced its social responsibility, shaped the future of aviation, and made marked progress on transforming into a digital leader. Watch the highlights in this video, and keep following Airbus as it gets set to break more records in 2018.

2017 was a year to remember at Airbus. The company delivered on its commitments, strengthened its customer focus, enhanced its social responsibility, shaped the future of aviation, and made marked progress on transforming into a digital leader. Watch the highlights in this video, and keep following Airbus as it gets set to break more records in 2018.

You can download our full Annual Report, including the Annual Review, Financial Statements and Registration Document, from the list below.

Connecting the skies  

Connecting the skies

Discover our Digital Annual Report

Previous years

Annual Report 2016 - Flying as one

 
01 February 2017

2016 Highlights

2016 Highlights

2016 Highlights

One path, one team, one future

As Airbus embarked on its journey towards a more integrated structure in 2016, it achieved all of its performance objectives, and a record level in terms of deliveries. It also made good progress on the development, assembly, testing and delivery of products that will take Airbus into the future.

Furthermore, the Company opened the Toulouse flagship campus of its Leadership University, completed the Airbus Safran Launchers Joint Venture and increased partnership at its manufacturing sites. Airbus also moved forward with its digital transformation, building a digital backbone for future operations, and innovated along a number of paths towards the future of aviation.

Download our full Annual Report, including the Annual Review, Financial Statements and Registration Document.

Annual Report e-accessible

The digital version of the Airbus Annual Report conforms to web content accessibility standards, WCAG 2.0, and is certified ISO 14289-1. Its design enables people with motor disabilities to browse through this PDF using keyboard commands. Accessible for people with visual impairments, it has been tagged in full, so that it can be transcribed vocally by screen readers using any computer support. It has also been tested in full and validated by a visually impaired expert.

Annual Report 2015

For Airbus Group the year 2015 was marked by first flights, record deliveries and breakthroughs in eco-efficiency and innovation – including delivering its 9,000th aircraft, leading high power electric satellites and launching the H160 next-generation helicopter. It also launched the new group-wide Airbus Foundation, integrating the respective activities of all the three Divisions.

The digital version of the Airbus Group Annual Report is conform to Web content accessibility standards, WCAG 2.0, and is certified ISO 14289-1. Its design enables people with motor disabilities to browse through this PDF using keyboard commands. Accessible for people with visual impairments, it has been tagged in full, so that it can be transcribed vocally by screen readers using any computer support.  It has also been tested in full and validated by a visually-impaired expert.

Annual Report 2014

2014 was a year of tremendous operational achievements, with the first A350 XWB delivery, the first flight of the A320neo, entry into service of the H175 helicopter and further successful Ariane launches. The Group also continued to push technology boundaries, especially in the field of electric propulsion.

Please note that the Corporate Responsibility and Sustainability Report is available in English only.

The digital version of the Airbus Group Annual Report is conform to Web content accessibility standards, WCAG 2.0, and is certified ISO 14289-1. Its design enables people with motor disabilities to browse through this PDF using keyboard commands. Accessible for people with visual impairments, it has been tagged in full, so that it can be transcribed vocally by screen readers using any computer support.  It has also been tested in full and validated by a visually-impaired expert.

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