31-Jul-2013 4:14 PM

EADS targeting EBIT of EUR3.5bn and 12% increase in earnings per share

EADS reported (31-Jul-2013) the following outlook for 2013:

  • Airbus orders and deliveries: Gross commercial aircraft orders at Airbus to be above 1000 aircraft for the full year. Deliveries should continue to grow to between 600 and 610.
  • Revenues: Due to lower A380 deliveries and assuming an exchange rate of EUR1 to USD1.35, EADS revenues should see moderate growth in 2013;
  • EBIT/EPS before one-off: By stretching the 2012 underlying margin improvement, EADS targets an EBIT of EUR3.5 billion, before one-offs. EADS expects 2013 earnings per share before one-off a to be around EUR2.50, prior to on-going share buyback. FY2012 EPS were EUR2.24;
  • EBIT/ EPS: Excluding the EUR85 million impact for the A380 wing rib feet issue (based on 25 deliveries), “one-offs” should be limited to potential charges on the A350 XWB programme, foreign exchange effects linked to pre-delivery payment mismatches and balance sheet revaluation. 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 2H2013;
  • Free cash flow: EADS aims to be free cash flow breakeven after customer financing and before acquisitions. [more - original PR]

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