EADS order intake increases strongly in the first half year of 2001
Amsterdam, 09 August 2001
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New order intake of EUR 42.8 billion continues to be substantially higher than revenues - firm order backlog of EUR 185 billion
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Revenues of EUR 14.0 billion for first six months confirm forecasts of a 20% growth in revenues for the full year
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EADS now ranks number one in its industry worldwide in terms of order backlog and number two in terms of revenues
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CEOs: "Successes in the first half-year strongly confirm our prospects for the full year 2001"
EADS European Aeronautic Defence and Space Company (stock exchange symbol: EAD) reports a successful first half- year in 2001 with order intake rising sharply to EUR 42.8 billion (first half year 2000: EUR 24.0 billion). This order intake continues to be substantially higher than revenues in the same period.
Total order backlog reached EUR 185 billion at the end of June 2001, an increase of 56% from June 2000 and of 9% from March 2001. The increase is mainly attributable to the full consolidation of Airbus since the beginning of the year and to the aircraft manufacturer's strong order intake, including 155 orders for commercial aircraft received during the Paris Air Show. Orders received by the end of June included 38 firm orders for the A380 superjumbo (currently: 48 firm orders). The EADS order backlog is equivalent to more than six years of business and is the highest in the aerospace and defence industry worldwide. It provides a solid foundation for EADS' profitable growth prospects.
From January to June 2001, revenues increased by 33% to EUR 14.0 billion, compared to pro forma revenues of EUR 10.6 billion in the first half of the previous year. EADS now ranks number two in its industry in terms of revenues.
The rise in revenues was generated mainly through the first-time 100% consolidation of Airbus (80% prior to 2001), the increase of deliveries at Airbus and the stronger US-Dollar. Revenues also rose in all other divisions but Space.
Philippe Camus and Rainer Hertrich, CEOs of EADS, stated that: "Our successes in the first half year strongly confirm our prospects for the full year 2001. The performance of all our divisions is in line with our plans. The prospects for EADS continue to be sound as we build a very positive outlook for growth in revenues and earnings by reinforcing an already extremely strong position in terms of our order backlog."
The positive development of revenues during the first half year of 2001 confirm forecasts announced in May of a 20% growth in revenues for the full year. If the US-Dollar remains at its current level, the 20% target will be exceeded. Nevertheless, the revenues split between the first and the second half of the year will be more balanced in 2001 compared to 2000.
The forecast for Earnings before Interest and Taxes (EBIT, before goodwill and exceptional items) is confirmed at an expected growth rate of 15% for the full year 2001, based on EUR 1.4 billion in 2000. This increase will mainly be attributable to higher deliveries at Airbus and the first-time 100% consolidation of this division. This result is to be achieved despite the anticipated sharp increase in Research and Development costs, mainly related to the A380.
EADS will publish its complete earnings figures for the first six months of 2001 at its half-year results press conference in Amsterdam on 20 September 2001.
The revenues, order intake and order backlog of the respective EADS divisions in the first half year of 2001, compared to the same period of the previous year, were as follows:
| Revenues in millions of EUR | January - June 2001 |
January - June 2000 (pro forma) | Change |
| Airbus * | 9,982 | 6,821 | + 46 % |
| Military Transport Aircraft | 195 | 74 | + 164 % |
| Aeronautics | 2,020 | 1,951 | + 4 % |
| Space | 1,054 | 1,084 | - 3 % |
| Defence and Civil Systems | 1,358 | 1,068 | + 27 % |
| Eliminations and Headquarters | -566 | -413 | |
| Total | 14,043 | 10,585 | + 33 % |
*in 2000 at 80%; in 2001 at 100%
| Order Intake in millions of EUR | January - June 2001 |
January - June 2000 (pro forma) | Change |
| Airbus * | 38,769 | 15,529 | + 150 % |
| Military Transport Aircraft | 132 | 129 | + 2 % |
| Aeronautics | 2,334 | 5,575 | - 58 % |
| Space | 651 | 1,467 | - 56 % |
| Defence and Civil Systems | 1,267 | 1,288 | - 2 % |
| Total ** | 42,811 | 23,988 | + 78 % |
*in 2000 at 80%; in 2001 at 100%; at catalogue prices
**incl. Eliminations and Headquarters
| Order Backlog in millions of EUR | 30 June 2001 |
30 June 2000 (pro forma) | % change |
| Airbus * | 157,746 | 91,462 | + 72 % |
| Military Transport Aircraft | 830 | 730 | + 14 % |
| Aeronautics | 13,434 | 12,709 | + 6 % |
| Space | 4,469 | 4,798 | - 7 % |
| Defence and Civil Systems | 9,435 | 9,021 | + 5 % |
| Total ** | 185,137 | 118,720 | + 56 % |
*in 2000 at 80%; in 2001 at 100%; at catalogue prices
**incl. Eliminations and Headquarters
Airbus delivered 162 aircraft in the first half of the year (first half 2000: 145) and achieved net orders, after cancellations, for 250 aircraft (first half 2000: 234). For the full year 2001, Airbus expects gross orders for 350 to 400 aircraft, thus again exceeding deliveries, which are expected to total around 330 aircraft. Order backlog amounted to 1,714 aircraft at the end of June 2001. The A380 programme is proceeding extremely well, with firm customer commitments already received for 67 aircraft. This figure is expected to rise to 100 around the end of 2001.
The formal creation of the integrated Airbus company was completed on 11 July. Airbus has already been operating as an integrated company since the beginning of 2001, and the positive impact of this new structure is already becoming visible.
The Military Transport Aircraft division's major future project, the A400M, was confirmed at Le Bourget Air Show, where a Memorandum of Understanding was signed by European governments. The increase in revenues compared to the first half of 2000 is mainly attributable to an increase of business with the Spanish Air Force (+ EUR 30 million) and to the inclusion of internal sales with other divisions of CASA (+ EUR 90 million), which were not included in the figures for half year 2000.
At the Aeronautics division, revenues rose by 4%. A positive impact on revenues is derived from Eurocopter deliveries of 130 aircraft in the first six months of the year (first half 2000: 105 aircraft). Order intake reached EUR 2.3 billion thanks to new contracts signed with the maintenance subsidiary Elbe Flugzeugwerke (EFW), as well as with the Military Aircraft business unit and Eurocopter. The latter was particularly successful at the Paris Air Show, announcing new orders for the NH90 (Portugal), Super Puma, Ecureuil and EC130. The order intake in the first half of 2000 was exceptionally high due to serial and development contracts for the four-nation NH90.
Revenues at the Space division remained on the same level as last year. Following an exceptionally high order intake in 2000, orders are - as expected - at a lower level this year.
At the Defence and Civil Systems division, revenues increased thanks to developments in the missile business - backed up by a strong order backlog - and to the full inclusion of major parts of EADS Telecoms for the first time (first half of 2000 includes only one month of EDSN revenues). Order intake decreased slightly, due to certain order delays. However, important decisions are expected for the second half of the year, such as the Meteor order.
Reporting annual pro forma revenues of EUR 24.2 billion in 2000, EADS is Europe's leading aerospace and defence company and meanwhile ranks number two worldwide. EADS is listed at the Frankfurt, Madrid and Paris stock exchanges. Following full consolidation of Airbus since January 2001, EADS now has a workforce of 100,200 employees.
Contact:
Eckhard Zanger
EADS Communications Finance
Tel. +49 89 607 27961
