24.02.2016 Airbus Group SE  NL0000235190

DGAP-Adhoc: Airbus Group SE: Airbus Group Reports Solid 2015 Results, With Guidance Achieved


 
Airbus Group SE / Key word(s): Final Results 24.02.2016 07:00 Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad-hoc release, 24 February 2016 Airbus Group Reports Solid 2015 Results, With Guidance Achieved - Revenues up six percent to EUR 64 billion; EBIT* before one-off EUR 4.1 billion - Earnings per share rise 15 percent to EUR 3.43 - Proposed 2015 dividend EUR 1.30 per share, up eight percent from 2014 - Free cash flow EUR 2.8 billion, including EUR 1.7 bn proceeds from Dassault Aviation stake sale - Record order backlog supports ramp-up - Guidance 2016 confirms outlook Airbus Group SE (stock exchange symbol: AIR) reported solid 2015 results with its guidance achieved for all key performance indicators, reflecting continued operational improvement. "The 2015 results reflect our solid financial and operational performance. We have delivered on our commitments and have maintained our outlook for 2016 and beyond," said Tom Enders, Airbus Group Chief Executive Officer. "Revenues and EBIT increased from a year earlier, delivering earnings per share growth while free cash flow improved. The record order book supports our commercial aircraft ramp-up plans and we are driving operational efficiency. We have now decided to increase the A330 production rate back to seven aircraft a month in 2017. There was also strong momentum in defence and space, with a book-to-bill ratio above 1. Operational highlights included reaching breakeven on the A380 programme for the first time, delivering 14 A350s in the first year of industrialisation and receiving dual certification for the A320neo. We remain focused on programme execution and managing the challenges we face with the acceleration of the A350 and A400M ramp-ups and A320neo transition. We will increase shareholder returns with a proposed dividend of 1.30 euros a share and our current share buyback." Group order intake(1) in 2015 was EUR 159 billion (2014: EUR 166 billion), with the order book(1) value reaching a record EUR 1,006 billion as of 31 December 2015 (year-end 2014: EUR 858 billion). Airbus received 1,080 net commercial aircraft orders (2014: 1,456 net orders), including 136 A330s. The 2015 gross orders of 1,190 aircraft included three A380s for new customer ANA. After 50 governmental helicopter cancellations, Airbus Helicopters received 333 net orders (2014: 369 units) including 107 H145s and 36 H175s. Order intake by value rose 18 percent at Airbus Defence and Space, with bookings including 14 additional A330 MRTTs and five telecommunications satellites. During the year, an agreement was also signed with OneWeb for 900 small telecommunications satellites. Group revenues increased six percent to EUR 64.5 billion (2014: EUR 60.7 billion). This was mainly driven by Commercial Aircraft which registered an eight percent rise in revenues on higher deliveries of 635 aircraft (2014: 629 units), including 14 A350 XWBs, and the strengthening U.S. dollar. Despite lower overall deliveries of 395 units (2014: 471 units), Helicopters' revenues rose four percent and mainly reflected a higher level of services activities. Defence and Space's revenues were broadly stable despite the de-consolidation of launcher revenues with the creation of the Airbus Safran Launchers Joint Venture's first phase. A total of 11 A400M military transport aircraft were delivered in 2015. Group EBIT* before one-off(3) - an indicator capturing the underlying business margin by excluding material non-recurring charges or profits caused by movements in provisions related to programmes and restructurings or foreign exchange impacts - rose to EUR 4,132 million (2014: EUR 4,066 million) with increases in all Divisions compensating the lower Dassault Aviation contribution. Commercial Aircraft's EBIT* before one-off rose 10 percent to EUR 2,780 million (2014: EUR 2,529 million), reflecting a solid operational performance that included the A380 breakeven and cost control. Helicopters' EBIT* before one-off increased to EUR 427 million (2014: EUR 413 million), as lower deliveries were compensated by higher services activities, a favourable mix and progress on the Division's transformation plan. Defence and Space's EBIT* before one-off rose 15 percent to EUR 1,060 million (2014: EUR 920 million), driven by strong programme execution across all business lines and progress with its transformation plan. Group self-financed R&D expenses totalled EUR 3,460 million (2014: EUR 3,391 million). The A350 XWB production ramp-up is accelerating, with a strong focus on the supply chain performance, controlling and reducing the level of outstanding work and managing recurring costs to target. This remains challenging. Joint European and U.S. certification for the A320neo was received in the fourth quarter of 2015 with the first delivery following in January 2016. Despite some schedule setbacks, the A320neo ramp-up preparation is underway with the focus on maturity and service readiness for early operations in line with customer expectations. Deliveries will be back-loaded this year. The A400M programme is in the ramp-up phase. Industrial efficiency and military capability remains a challenge during this phase. The Group is working with its customers to agree a schedule of military capability enhancement and deliveries as well as reviewing the escalation formulae(5). Industrial recovery measures have been identified and the Group is focused on delivery, but risk remains. Reported EBIT*(3) rose slightly to EUR 4,086 million (2014: EUR 4,040 million), with net one-offs totalling EUR -46 million and comprising: - A net charge of EUR 635 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation driven by the devaluation of the euro versus the dollar compared to historical rates; - A EUR 290 million net charge related to the A400M programme which is unchanged compared to the first half 2015 results disclosure; - A net gain of EUR 90 million linked to divestments in Defence and Space and of Commercial Aircraft subsidiary CIMPA; - A gain of EUR 41 million after reassessing and adjusting the provision for the restructuring at Defence and Space which is progressing well; - A EUR 748 million net gain from the sale of an 18.75% stake in Dassault Aviation(6) in the first half of 2015. Net income(4) and earnings per share (EPS) increased 15 percent to EUR 2,696 million (2014: EUR 2,343 million) and EUR 3.43 (2014: EUR 2.99) respectively. The finance result was EUR -687 million (2014: EUR -778 million) and included one-offs totalling EUR -218 million, mainly from a negative foreign exchange revaluation. 2015 net income and EPS were positively influenced by a lower effective tax rate following tax reduced capital gains from divestments. Based on the EPS performance, Airbus Group's Board of Directors will propose to the Annual General Meeting the payment of a 2015 dividend of EUR 1.30 per share on 4 May 2016 (FY 2014: EUR 1.20 per share). The record date shall be 3 May 2016. "Given the solid financial and operational progress during 2015, we are proposing an improved dividend of EUR 1.30 a share, which represents an eight percent increase over 2014. This is in line with the top end of our stated dividend policy," said Airbus Group Chief Financial Officer Harald Wilhelm. Free cash flow before mergers and acquisitions improved to EUR 1,175 million (2014: EUR 1,109 million), reflecting the solid operational performance, healthy pre-delivery payment inflows and ongoing efforts to control working capital during the programme ramp-up phase. Proceeds of around EUR 1.7 billion in the first half of 2015 from the sale of Dassault Aviation shares boosted free cash flow to EUR 2,825 million (2014: EUR 2,002 million). The net cash position at the end of 2015 was EUR 10.0 billion (year-end 2014: EUR 9.1 billion) after a 2014 dividend payment of EUR 945 million (2013: EUR 587 million), EUR 264 million spent under the share buyback and a pension contribution of EUR 217 million. The gross cash position on 31 December 2015 was EUR 19.1 billion (year-end 2014: EUR 16.4 billion). Outlook As the basis for its 2016 guidance, Airbus Group expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruptions. 2016 earnings and free cash flow guidance is based on a constant perimeter. In 2016, Airbus expects to deliver more than 650 aircraft, and the commercial order book is expected to grow. In 2016, before M&A, Airbus Group expects stable EBIT* before one-off and EPS* before one-off compared to 2015. In 2016, before M&A, Airbus Group expects to deliver stable free cash flow compared to 2015. * 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 former EADS merger and Airbus Combination, as well as impairment charges thereon. Airbus Group Airbus Group is a global leader in aeronautics, space and related services. In 2015, the Group - comprising Airbus, Airbus Defence and Space and Airbus Helicopters - generated revenues of EUR 64.5 billion and employed a workforce of around 136,600. Contacts for the media: Martin Agüera +49 (0) 175 227 4369 Rod Stone +33 (0) 6 30 521 993 Airbus Group - Full-Year (FY) Results 2015 (Amounts in euro)

Airbus Group                               FY 2015     FY 2014       Change
Revenues, in millions                      64,450      60,713        +6%
thereof defence, in millions               11,512      10,993        +5%
EBITDA (2), in millions                    6,528       6,147         +6%
EBIT before one-offs (3), in millions      4,132       4,066         +2%
EBIT (3), in millions                      4,086       4,040         +1%
Research & Development expenses,           3,460       3,391         +2%
in millions
Net Income (4), in millions                2,696       2,343         +15%
Earnings Per Share (EPS) (4)               3.43        2.99          +15%
Free Cash Flow (FCF), in millions          2,825       2,002         +41%
Free Cash Flow                             1,175       1,109         +6%
before M&A, in millions
Free Cash Flow                             2,975       1,894         +57%
before Customer Financing, in millions
Dividend per share(7)                      1.30        1.20          +8%
Order Intake (1), in millions              158,967     166,430       -4%



Airbus Group                         31 Dec          31 Dec        Change
                                     2015            2014
Order Book (1), in millions          1,005,864       857,519       +17%
thereof defence, in millions         38,411          42,240        -9%
Net Cash position, in millions       10,003          9,092         +10%
Employees                            136,574         138,622       -1%



by Division                    Revenues                EBIT (3)
(Amounts in millions of Euro)  FY      FY      Change  FY     FY     Change
                               2015    2014            2015   2014
Commercial Aircraft            45,854  42,280  +8%     2,301  2,671  -14%
Helicopters                    6,786   6,524   +4%     427    413    +3%
Defence and Space              13,080  13,025  0%      745    409    +82%
Headquarters / Eliminations    -1,270  -1,116  -       613    547    -
Total                          64,450  60,713  +6%     4,086  4,040  +1%



by Division                           EBIT before one-offs(3)
(Amounts in millions of Euro)         FY             FY            Change
                                      2015           2014
Commercial Aircraft                   2,780          2,529         +10%
Helicopters                           427            413           +3%
Defence and Space                     1,060          920           +15%
Headquarters / Eliminations           -135           204           -
Total                                 4,132          4,066         +2%



by Division                   Order Intake (1)       Order Book (1)
(Amounts in millions of Euro) FY      FY      Change 31 Dec   31 Dec 
Change
                              2015    2014           2015     2014
Commercial Aircraft           139,062 150,085 -7%    952,450  803,633 +19%
Helicopters                   6,168   5,469   +13%   11,769   12,227  -4%
Defence and Space             14,440  12,225  +18%   42,861   43,075  0%
Headquarters /  Eliminations  -703    -1,349  -      -1,216   -1,416  -
Total                         158,967 166,430 -4%    1,005,8  857,519 +17%
                                                     64


Airbus Group - Fourth Quarter Results (Q4) 2015

Airbus Group                               Q4 2015      Q4 2014      Change
Revenues, in millions                      21,485       20,216       +6%
EBIT before one-offs (3), in millions      1,328        1,476        -10%
EBIT (3), in millions                      1,140        1,457        -22%
Net Income (4), in millions                796          944          -16%
Earnings Per Share (EPS) (4)               1.02         1.21         -16%



by Division                   Revenues             EBIT (3)
(Amounts in millions of Euro) Q4     Q4     Change Q4    Q4    Change
                              2015   2014          2015  2014
Commercial Aircraft           14,735 13,460 +9%    399   898   -56%
Helicopters                   2,363  2,264  +4%    186   172   +8%
Defence and Space             4,697  4,828  -3%    596   39    +1,428%
Headquarters /                -310   -336   -      -41   348   -
Eliminations
Total                         21,485 20,216 +6%    1,140 1,457 -22%



by Division                            EBIT before one-offs(3)
(Amounts in millions of Euro)          Q4             Q4             Change
                                       2015           2014
Commercial Aircraft                    554            749            -26%
Helicopters                            186            172            +8%
Defence and Space                      629            550            +14%
Headquarters /                         -41            5              -
Eliminations
Total                                  1,328          1,476          -10%


Q4 2015 revenues rose six percent compared to Q4 2014, driven mainly by a favourable foreign exchange impact and higher A350 deliveries at Commercial Aircraft. Q4 2015 EBIT* before one-off decreased as expected, driven mainly by higher R&D at Commercial Aircraft. It was further reduced by the lower Dassault Aviation contribution in the Headquarters/ Eliminations line. Q4 2015 reported EBIT* declined 22% to EUR 1,140 million. Reflecting net one-offs of EUR -188 million, it includes the negative one-off from foreign exchange from the dollar pre-delivery payment mismatch and balance sheet revaluation of EUR -275 million. Q4 2014 reported EBIT* included net one-offs of EUR -19 million. Q4 2015 net income was positively influenced by a low Q4 effective tax rate following tax reduced capital gains on divestments in Commercial Aircraft and in Defence and Space. Footnotes: 1) Contributions from commercial aircraft activities to Order Intake and Order Book based on list prices. 2) Earnings before interest, taxes, depreciation, amortisation and exceptionals. 3) Earnings before interest and taxes, pre goodwill impairment and exceptionals. 4) Airbus Group continues to use the term Net Income. It is identical to Profit for the period attributable to equity owners of the parent as defined by IFRS Rules. 5) Long-term contracts generally contain a contract clause which escalates the price of the contract in line with a formula reflecting an approximate escalation of the input costs - labour and materials. Various indexes are used depending on the mix of input costs. 6) The remaining Dassault Aviation participation is now recorded as an asset held for sale and the result of the period of Dassault Aviation will no longer contribute to the Headquarters earnings line, except for dividends to be received and the capital gain from future sales of Dassault Aviation shares. 7) To be proposed to the Annual General Meeting 2016. Safe Harbour Statement: Certain statements contained in this press release are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management's beliefs. These statements reflect Airbus Group's views and assumptions as of the date of the statements and involve known and unknown risk and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "may", "intend", "plan to" and "project" are intended to identify forward-looking statements. This forward looking information is based upon a number of assumptions including without limitation: assumption regarding demand, current and future markets for Airbus Group's products and services, internal performance, customer financing, customer, supplier and subcontractor performance or contracts negotiations, favourable outcomes of certain pending sales campaigns. Forward looking statements are subject to uncertainty and actual future results and trends may differ materially depending on variety of factors including without limitation: general economic and labour conditions, including in particular economic conditions in Europe, North America and Asia, legal, financial and governmental risk related to international transactions, the cyclical nature of some of Airbus Group's businesses, volatility of the market for certain products and services, product performance risks, collective bargaining labour disputes, factors that result in significant and prolonged disruption to air travel worldwide, the outcome of political and legal processes, including uncertainty regarding government funding of certain programs, consolidation among competitors in the aerospace industry, the cost of developing, and the commercial success of new products, exchange rate and interest rate spread fluctuations between the euro and the U.S. dollar and other currencies, legal proceeding and other economic, political and technological risk and uncertainties. Additional information regarding these factors is contained in the Company's "Registration Document" dated 16 April 2015. For more information, please refer to www.airbusgroup.com 24.02.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Airbus Group SE P.O. Box 32008 2303 DA Leiden Netherlands Phone: 00 800 00 02 2002 Fax: +49 (0)89 607 - 26481 E-mail: [email protected] Internet: www.eads.com ISIN: NL0000235190 WKN: 938914 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart; Terminbörse EUREX End of Announcement DGAP News-Service ---------------------------------------------------------------------------


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 66.767,00 63.707,00 70.478,00 49.912,00 52.149,00 58.763,00 65.446,00
EBITDA1,2 5.719,00 7.492,00 4.266,00 2.321,00 7.667,00 8.041,00 6.845,00
EBITDA-Marge3 8,57 11,76 6,05 4,65 14,70 13,68
EBIT1,4 3.421,00 5.048,00 1.339,00 -510,00 5.342,00 5.325,00 4.603,00
EBIT-Marge5 5,12 7,92 1,90 -1,02 10,24 9,06 7,03
Jahresüberschuss1 2.873,00 3.011,00 -1.362,00 -1.169,00 4.174,00 4.136,00 3.613,00
Netto-Marge6 4,30 4,73 -1,93 -2,34 8,00 7,04 5,52
Cashflow1,7 4.444,00 2.318,00 3.753,00 -5.420,00 4.639,00 6.288,00 6.255,00
Ergebnis je Aktie8 3,05 3,92 -1,75 -1,45 5,36 5,39 4,80
Dividende8 1,50 1,65 0,00 0,00 1,50 1,80 1,35
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
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Airbus
WKN Kurs in € Einschätzung Börsenwert in Mio. €
938914 171,980 Kaufen 135.942,35
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
21,77 26,60 0,81 56,42
KBV KCV KUV EV/EBITDA
8,78 21,73 2,08 20,80
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,80 2,80 1,63 10.04.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
25.04.2024 30.07.2024 30.10.2024 15.02.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
12,77% 24,92% 22,98% 45,28%
    
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