|EBIT*||expected at € 2.75 bn|
|EPS||expected around € 1.65|
|Revenues||more than € 33 bn expected , of which defence revenues of € 8.5 bn|
|Free Cash Flow before
|expected to remain robust|
|Book-to-bill ratio||above 1.0|
|Airbus deliveries||around 370 aircraft|
For the full year 2005, EADS raises its EBIT* target to € 2.75 billion, from a previous target of "more than € 2.6 billion".
The change in EBIT* outlook reflects Airbus delivery increase to 370 aircraft in 2005, most of the growth occurring in the single-aisle category. It also incorporates higher than expected losses at EADS Sogerma Services and additional charges in the Defence & Security Systems Division related to two Unmanned Aerial Vehicle (UAV) programmes in the last quarter of 2005.
EADS expects its 2005 revenues to grow to more than € 33 billion. In 2004, EADS achieved revenues of € 31.8 billion. EADS' group-wide defence revenues should increase by 10 percent during the course of the year to € 8.5 billion.
Continuing the strong cash flow generation in 2004, Free Cash Flow before Customer Financing is expected to remain robust in 2005.
2005 EPS are expected to grow to around € 1.65, based on an expected average of around 800 million shares. This EPS target is partly dependent on the 2005 US dollar closing rate. The previous EPS target was "more than € 1.50" for the full year 2005. The updated EPS guidance reflects mostly the higher EBIT* target.
* 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.