|Revenues||above € 40 bn|
|Airbus deliveries||about 470 aircraft|
|Airbus orders||above 850 aircraft|
|EBIT*||at € 1.8 bn
(detailed conditions see below)
|Free Cash Flow
before customer financing
|at above € 1 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 above 850 aircraft orders in 2008.
EADS revenues are expected to exceed € 40 billion in 2008, with about 470 aircraft deliveries for the full year.
EADS expects its 2008 EBIT* to reach € 1.8 billion. The strong underlying performance generated across all businesses in the first half of 2008 provides some upside potential. Nevertheless, EADS remains cautious regarding the A400M programme. The Group expects that the results of the first flight tests and further negotiations with customers and suppliers will provide a sound basis for the finalisation of the cost-at-completion exercise on the A400M programme.
The weakening of closing spot rate at year-end 2008 could have negative impacts on earnings linked to the revaluation at a deteriorated 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 € 1 billion if the current trend is confirmed and 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.