EADS achieves record order intake of EUR 49.3 billion in 2000, up 50.8 %
Amsterdam, 16 February 2001
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Strong growth in revenues of 7.3 %, reaching EUR 24.2 billion
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Order backlog up 30 % to EUR 133 billion at year-end 2000
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Camus and Hertrich: "Huge growth potential will further accelerate the competitive position of EADS"
EADS European Aeronautic Defence and Space Company (stock exchange symbol: EAD) achieved a record order intake of EUR 49.3 billion in the year 2000. This is an increase of 50.8 % against the pro forma 1999 combined figure of the founding companies Aerospatiale Matra, DaimlerChrysler Aerospace (Dasa) and Construcciones Aeronáuticas (CASA) and shows the exceptional performance of the new group. At year-end, the orderbook amounted to the record level of EUR 133 billion, up 30 % against the 1999 pro forma figure, as the European number one in the aerospace and defence industry announced on February 16, 2001.
EADS group revenues for the first business year reached EUR 24.2 billion on a pro forma basis, an increase of 7.3 % compared with the 1999 pro forma revenues of EUR 22.6 billion.
The CEOs, Philippe Camus and Rainer Hertrich, said: "We are very pleased with the first business year of EADS. We have achieved our goals set at the time of the Initial Public Offering and will continue to do so in 2001. EADS has a huge growth potential, particularly based on the major programs launched or signed in 2000 such as the A380 megaliner, the military transport aircraft A400M, the air-to-air missile METEOR or the military helicopter NH90. We will exploit this growth potential to further accelerate the competitive position of EADS to the benefit of our customers, shareholders and employees."
Commenting on the record order intake, the CEOs continued: "With new orders equivalent to double our revenues in 2000, our order backlog of EUR 133 billion represents more than five years of business activity. This gives us an exceptional visibility for the future and makes us very confident that we will meet if not outperform our medium-term growth and profitability targets".
Divisions confirm their strong market position
Continuing to increase its market share, the Airbus division achieved revenues of EUR 14.9 billion, up 17.5 %. With 311 aircraft (1999: 294 aircraft) delivered, Airbus successfully continued to increase its production rate to a record level. As in previous years, order intake was substantially higher than deliveries, with a total of 520 aircraft worth EUR 33.6 billion ordered by customers worldwide in 2000. For the sixth consecutive year, Airbus order backlog continued to grow and reached EUR 104.0 billion (in EADS accounts) at year-end. In total, Airbus has an order backlog of 1,626 aircraft. This is a record level that covers more than five years of business activity and puts Airbus in the number one position in the world. On top of this, Airbus received 50 firm commitments from some of the best airlines in the world for the new A380 megaliner, which was officially launched on December 19, 2000.
The Military Transport Aircraft division recorded revenues of EUR 316 million in 2000. With EUR 493 million, order intake in 2000 remained above the revenue level, resulting in an increased order backlog of EUR 873 million. The A400M program, which was decided upon in 2000 following the purchase intents from seven partner countries for a total of 225 aircraft, has not been included in the year-end 2000 backlog. This programme will bring this division and EADS strong growth in the future.
The revenues of the Aeronautics division reached EUR 4.7 billion in the past year, almost 10 % up from 1999, and this has been achieved even before the major military contracts obtained over recent years (Tiger, NH90, Eurofighter) start to have an impact on sales. Eurocopter delivered 289 helicopters, compared to 242 in 1999, and maintained its worldwide number one civil market share of 38%. Military aircraft revenues were sustained by the Tornado upgrade programme. Maintenance grew in line with the world's aircraft fleets, confirming again the growth potential in this area. New orders at the Aeronautics division surged to EUR 8.3 billion, mostly thanks to the signature of the production contract for the military transport helicopter NH90. The order book reached EUR 13.0 billion at year-end, representing more than two years of activity.
In a difficult market environment, revenues of the Space division increased slightly to EUR 2.5 billion (+0.7 %). The Ariane programme confirmed its leading position and outstanding reliability with twelve successful launches. Space orders were EUR 3.0 billion, showing the competitiveness of the products in the Space division. These include six Telecom satellites awarded to Astrium, in particular by two of the most important customers (Intelsat and Inmarsat). In the ballistic missiles area, the M51 contract was signed. Year-end backlog reached EUR 4.8 billion, about two years of activity.
Revenues of the Defence and Civil Systems division decreased to EUR 2.9 billion (- 24 %) in 2000, particularly due to the anticipated de-consolidation of the civil telecom joint ventures with Nortel that had already been announced at the time of the IPO. On a comparable basis, revenues were stable, proving the very good resistance despite the difficult market characterised by stagnant procurement budgets and the transitionary period between development and production phases, before full revenues can be achieved in the missiles activity. The division has already announced a restructuring programme aimed at improving its profitability. As anticipated, the division's order intake decreased to EUR 3.8 billion after the record levels of past years. In the missile field, orders included export successes of ASTER and, in the military telecom business, EADS was awarded a contract for the Mexican Police forces. In the defence electronics field, EADS booked its first US military contract with the Navy, an exceptional event for a European company. Year-end order backlog reached EUR 10.3 billion, representing three years of activity. These orders do not include the very large volume of the purchase intent by the British Ministry of Defence for METEOR for Eurofighters of the Royal Airforce.
EADS will release detailed financial statements for 2000 on the day of its Annual Press Conference in Amsterdam on March 19, 2001.
EADS was formed on July 10, 2000 following the merger of Aerospatiale Matra of France, DaimlerChrysler Aerospace (Dasa) of Germany and the Spanish CASA. The listing of EADS on the Frankfurt, Madrid and Paris stock exchanges marked the first pan-European offering and one of the largest European listings of the year 2000. EADS is the third largest aerospace company in the world.
Contact:
Eckhard Zanger
EADS Communications Finance
Tel. +49 89 607 27961
