|Annual Results 2013 26 February 2014|
|9 months Earnings 2013 14 November 2013|
|Half Year Earnings 2013 31 July 2013|
|1st Quarter Earnings 2013 14 May 2013|
|Annual Results 2012 27 February 2013|
Key Performance Indicator
|Target FY 2014:
as of 26 February
|Revenues||stable, around 59 B€ with 1€=1.35$|
|Airbus deliveries||stable (around 626 a/c)|
|Airbus gross orders||above deliveries|
|Free Cash Flow
As the basis for its 2014 guidance, Airbus Group expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruptions.
In 2014, Airbus deliveries should be about the same level as in 2013, including the first A350 XWB delivery. Gross commercial aircraft orders should be above the level of deliveries.
Assuming an exchange rate of € 1 = $ 1.35, Airbus Group revenues should be stable compared to 2013.
In 2014, using EBIT* before one-off, Airbus Group expects moderate return on sales growth and confirms its 2015 return on sales target of 7-8 percent. The EBIT* and EPS* performance of Airbus Group will depend 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 the pre-delivery payment (PDP) mismatch and balance sheet revaluation.
The A350 XWB programme remains challenging. Any change to the schedule and cost assumptions could lead to an increasingly higher impact on provisions.
Airbus Group is targeting breakeven free cash flow before acquisitions in 2014.