as of 14 November
|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
|(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.