H1 Results 2013 Tom Enders Chief Executive Officer Harald Wilhelm Chief Financial Officer
Safe Harbour Statement 2 DISCLAIMER This presentation includes forward- looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements made about strategy, ramp- up and delivery schedules, introduction of new products and services and market expectations, as well as statements regarding future performance and outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. THESE FACTORS INCLUDE BUT ARE NOT LIMITED TO: Changes in general economic, political or market conditions, including the cyclical nature of some of EADS’ businesses; Significant disruptions in air travel (including as a result of terrorist attacks); Currency exchange rate fluctuations, in particular between the Euro and the U.S. dollar; The successful execution of internal performance plans, including cost reduction and productivity efforts; Product performance risks, as well as programme development and management risks; Customer, supplier and subcontractor performance or contract negotiations, including financing issues; Competition and consolidation in the aerospace and defence industry; Significant collective bargaining labour disputes; The outcome of political and legal processes, including the availability of government financing for certain programmes and the size of defence and space procurement budgets; Research and development costs in connection with new products; Legal, financial and governmental risks related to international transactions; Legal and investigatory proceedings and other economic, political and technological risks and uncertainties. As a result, EADS’ actual results may differ materially from the plans, goals and expectations set forth in such forward -looking statements. For a discussion of factors that could cause future results to differ from such forward- looking statements, see EADS “ Registration Document” dated 3 April 2013. Any forward-looking statement contained in this presentation speaks as of the date of this presentation. EADS undertakes no obligation to publicly revise or update any forward-looking statements in light of new information, future events or otherwise.
H1 Results 2013 Group Highlights Divisional Highlights Guidance
H1 Key Messages 4 Strong commercial aircraft momentum Good operational progress on execution Key Messages Strategy conclusions: Re-organisation and Re-branding Full year 2013 Guidance re-affirmed Revenues: +6% EBIT* before one-off: +21%, EBIT*: +40% Financial Highlights EPS: increase to € 0.94, +32% FCF**: € - 4.1 bn, expected to reverse in Q4 * Pre-goodwill impairment and exceptionals ** FCF before acquisitions
H1 2013 Commercial Environment 5 in € bn H1 2013 H1 2012 Change EADS Order Intake* by Segment (in value) : Order Intake* 96.6 28.2 +241.8% 4% Defence 96% € 97 bn Commercial Jun. 2013 Dec. 2012 Change in € bn 634.8 Order Book* 566.5 +12.1 49.6 -2.8% of which Defence 48.2 EADS Order Book* by Region (in value) : Airbus : Strong commercial momentum with 758 gross commercial aircraft orders, including 65 additional A350XWB 6%2% Asia Pacific Europe 35% Eurocopter : 34 NH90 booked for France. Temporary slower 20% Middle East € 635 bn commercial bookings in H1 North America Latin America Astrium : 1 telecom satellite (Express AMU1) for Russian operator, Other countries 15% 22% slower activity in services Cassidian : Stable book to bill, close to 1 * Commercial Order Intake and Order Book based on list prices
H1 2013 Financial Performance 6 Revenues EBIT* before one-off 56 49 Moderate 3.50 RoS: 5.2% Growth 2.96 in € bn in € bn RoS: 3.7% +6% +21% +14% 26 25 RoS: 6.1% +86% 22 RoS: 5.4% 1.79 1.62 1.34 RoS: 3.3% 12 12 0.72 5 5 5 H1 2011 2011 H1 2012 2012 H1 2013 Guidance H1 2011 2011 H1 2012 2012 H1 2013 Guidance 2013 2013 t/o Defence EPS* before one-off FCF before Acquisitions 2.49 2.50 a) 2.50 2.21 1.45 Breakeven in € +24% in € bn -0.25 H1 2011 2011 H1 2012 2012 H1 2013 Guidance +104% 1.39 2013 1.22 -1.75 0.98 0.48 H1 2011 2011 H1 2012 2012 H1 2013 Guidance -4.14 2013 * Pre-goodwill impairment and exceptionals a) Guidance prior to proposed share buyback 2012 figures are pro forma, amended with IAS 19 restatement. Capitalised R&D: € 244 m in H1 2013 and € 155 m in H1 2012
H1 2013 Profitability 7 EBIT* Performance RoS: 6.1% +40% RoS: 5.6% H1 2013 EBIT* reported +40% RoS: 5.4% RoS: 4.2% H1 2013 one-offs are limited to known A380 in € bn impact and $ PDP Mismatch and Balance Sheet Revaluation EPS Performance H1 2013 Net Income of € 759 m, + 31% 1.22 +32% H1 2013 EPS + 32% 0.98 in € 0.94 H1 2013 Financial one-offs linked to negative 0.71 foreign exchange revaluation H1 2013 tax rate 28% EPS* before one off EPS Reported H1 2012 H1 2013 * Pre-goodwill impairment and exceptionals
H1 Cash Evolution 8 in € m +1,806 12,292 - 4,452 - 1,497 5,933 - 13 -2,203 Free Cash Flow* before Acquisitions -4,143 Cash used for Net Cash position Net Cash position Share Buyback / Gross Cash Flow Change in investing activities Acquisitions Dividends & Dec. 2012 from Operations Working Capital** June 2013 before Acquisitions Others FCF reflects significant temporary deterioration in working capital linked mainly to inventory ramp up and phasing of delivery plans Financial flexibility: Gross cash € 12.6 bn at 30 June 2013 * Excluding contribution to plan assets of pension schemes and change of securities ** Includes customer financing in other assets and liabilities
H1 Results 2013 Group Highlights Divisional Highlights Guidance
Airbus Division (incl. ATR & Sogerma) 10 € m H1 2013 H1 2012 pro forma Change Airbus Division External revenue split: Airbus Airbus Airbus Airbus Airbus Airbus Airbus Division Comm. Military Division Comm. Military Division 5% Order Intake (net) 1) 730 722 8 251 230 21 +190.8% in units Order Book 1) 5,318 5,109 216 4,607 4,388 231 +15.4% A Order Intake (net) 90,351 643 89,782 21,164 19,991 1,271 +326.9% 95% in value Order Book 595,792 575,721 20,810 508,158 487,730 21,661 +17.2% Defence Civil Deliveries (a/c) 1) 304 295 12 285 279 7 +6.7% Revenues 18,924 18,235 1,067 17,525 16,864 843 +8.0% 5% R&D expenses 1,104 1,096 9 1,130 1,123 7 -2.3% 6.4% 6.7% 0.8% in % of revenues 5.8% 6.0% 0.8% EBIT* before one-off 1,229 1,228 10 845 840 2 +45.4% in % of revenues 6.5% 6.7% 0.9% 4.8% 5.0% 0.2% 95% EBIT* 1,093 1,092 10 563 558 2 Services +94.1% 3.2% 3.3% 0.2% in % of revenues 5.8% 6.0% 0.9% Platforms Ramp-up and favourable pricing in deliveries driving revenue and EBIT* improvement A350 XWB: Flight test programme underway. Challenges ahead to ensure maturity and ramp-up in line with commitments to customers A400M: Conditions for IOC and Type Certificate agreement with OCCAR and 7 Launch Nations in final stage of discussions. First aircraft delivery to the French Air Force to follow within days. * Pre-goodwill impairment and exceptionals ** Capitalised R&D: € 205 m in H1 2013 and € 140 m in H1 2012 2012 figures are pro forma, amended with IAS 19 restatement and perimeter change 1) Excluding ATR order intake, order book and deliveries
Eurocopter 11 in € m H1 2012 External revenue split: H1 2013 Change pro forma Order Intake (net) 167 195 -14.4% in units Order Book 1,047 1,073 -2.4% 43% Defence Civil 57% Order Intake (net) 2,448 2,448 0% in value Order Book 12,806 13,491 -5.1% A Deliveries (units) 190 198 -4.0% Revenues 2,584 2,771 -6.7% R&D expenses 143 131 +9.2% 4.7% in % of revenues 5.5% 48% 52% EBIT* before one-off 128 198 Services -35.4% Platforms 7.1% in % of revenues 5.0% EBIT* 128 198 -35.4% 7.1% in % of revenues 5.0% Super Puma flight restrictions impacted deliveries and services, weighing strongly on all H1 KPIs Super Puma: technical solution approved by EASA & CAAs. Major step towards recovery. Pace of return to operations by customers will drive full year delivery level * Pre-goodwill impairment and exceptionals Capitalised R&D: € 29m in H1 2013 and € 4 m in H1 2012 2012 figures are pro forma, amended with IAS 19 restatement
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