Annual
Earnings
Conference Call, 10th March 2009Louis Gallois
CEO

Hans Peter Ring
CFO

2008
1

Safe Harbour Statement
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 performanceand outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future eventsand circumstances and there are many factors that could cause actual results and developments to differ materially fromthose 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 suchforward-looking statements. For a discussion of factors that could cause future results to differ from suchforward-looking statements, see EADS’ “Registration Document” dated 24th April 2008.
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.

2

1

Content
Group Highlights
Financial Highlights
Divisional Performance
Guidance

3

Group Highlights: FY 2008
Backlog– Airbus : 900 new orders (777 net) in FY 2008; 3,715 a/c in backlog;– Eurocopter : 715 orders booked in FY 2008; backlog: 1,515 units;– Defence backlog at 54.9 bn€
Ramp-up activity– 483 Airbus deliveries including 12 A380;– 588 Eurocopter deliveries including 14 NH90;– 6 successful Ariane 5 launches, 7 deliveries; 28th consecutive Ariane success
Key Financial Highlights– Record level net cash position: 9.2 bn€;
– Cash flow generation better than expected at 2.6 bn€;
– Solid EBIT performance 2.8 bn€, thereof:• ~1 bn€ contribution from Helicopter, Defence & Space activities• Significant positive currency impacts for USD and also GBP.
Strategic Advances– Airbus: Integration and Operational efficiency– Eurocopter: Globalisation and expansion in services;– Astrium: Efficiency and growth in Services;– Defence: Growth and Productivity

42

Integration and Efficiency 2008
Power8• At rate 34 for the SA family, the target of 2.1bn€ is maintained; Half gross cost savings

achieved so far.
• ROC : 5,000 positions reduced by end 2008; 56% internal, 44% external.
• Smart Buying : Savings on Flying parts; Logistics and Transportation hub implemented.
• Lean Manufacturing : deployment in all plants and FALs in 2008.
• Divestment strategy :– Laupheim and Filton sites sold; Aerolia and Premium Aerotech began operations in
December; Final agreement reached on Socata.
Further Integration and Efficiencies• Power8 PLUS – industrial footprint and cost structure

Future EADS
• Integration milestone reached in December for improved operational efficiency;– MTAD integrated into Airbus; reinforced management of military programmes,– Coordination of Space and Defence to foster synergy development.
• Shared services : real estate / facility management and general procurement;• Ongoing review of all support functions throughout the Group.

5

A400M Update
Current Situation• Airbus Military has proposed a new military approach to OCCAR, including:

New timetable : 1st delivery to occur 3 years after 1st test flight;
Certain technical and contractual changes.
• Management is working with the engine consortium to confirm a date for the 1st flight;––• Integration of MTAD into Airbus creating Airbus Military, to strengthen ProgrammeManagement and optimise resource allocation.
Financial consequences – Early stage accounting retained*• Revenues of +1.1 bn€ for EADS; +0.8 bn€ for Airbus in FY08 earnings;• Net EBIT impact of -0.7 bn€ for EADS; -0.5 bn€ for Airbus in FY08 earnings;• This charge does not reflect a new estimate of the loss at completion;• Full cost at completion cannot be determined at this stage and is dependent on theoverall assessment of the programme.
* Accumulated work in progress expensed, revenue recognition for the expected recoverable part of the costs,
utilisation of provision for incurred losses, according to IAS 11.
Update of loss making contract provision up to costs which can be reliably estimated (not based on new
management assessment of the delays).

6

3

Content
Group Highlights
Financial Highlights
Divisional Performance
Guidance7

FY 2008 Financial Highlights
FY 2008

FY 2007changeRevenues

43.3

39.1

+11%

of which Defence

11.0

8.9

+23%

EBIT*

2.8

0.05

-

Order intake

98.6

136.8

-28%

Dec. 2008

Dec. 2007change

400.2

339.5

+18%

54.9

54.5

+1%

in €bnin €bnTotal Order book**of which Defence

2008 results demonstrate healthy top and bottom line growth.

*

pre goodwill impairment and exceptionals** Order book based on list prices

84

FY 2008 EBIT* Before One-off

EADS

Airbus2.8

1.8**(0.8)(0.6)- LMC provision (mainly A380)

(1.0)

(1.0)

- Revaluation of all LMCs at end of December spot ($ and £)

0.9

0.9

-

-

- Other one-off

0.4

0.4

EBIT* before one-off

3.3

2.1

in €bnEBIT*
THEREOF :- Impact of A400M Early Stage Accounting- Temporary Excess Volume of Hedging

2008 delivers strong underlying performance.
* pre-goodwill impairment and exceptionals.

9** After currency impact : - 704 M€.

FY 2008 Profit & Loss Highlights
FY 2008€m

in % of
Revenues

EBIT*

2,830

self-financed R&D**

2,669

EBIT* before R&D

5,499

FY 2007€m

in % of
Revenues

6.5%

52

0.1%

6.2%

2,608

6.7%

12.7%

2,660

6.8%

36

0.1%

(199)

(0.5%)

Other financial result(508)(1.2%)(538)(1.4%)

Taxes

(703)

(1.6%)

333

0.9%

Net income / loss

1,572

3.6%

(446)

(1.1%)

EPS***

1.95 €

Interest result(0.56 €)* pre goodwill impairment and exceptionals** IAS 38: € 87 m capitalised during FY 2008; € 97 m capitalised during FY 2007*** Average number of shares outstanding: 806,978,801 in FY 2008; 803,128,221 in FY 2007

10

5

Currency Hedge Policy• Approx. half of EADS’ US$ revenues naturally hedged by US$ procurement.
• In FY 2008 hedges of $ 16.4 bn* matured at an average hedge rate of 1€ = 1.18 $• In FY 2008, new hedges of $ 34.6 bn* were added at an average rate of 1€ = 1.42 $ **EADS hedge portfolio, 31st December 2008($ 68.1 bn*), average forward rate 1€ = 1.36 $** and 1£ = 1.76 $US$ bn

18.7

20
16.0

3.5

Options

15.3

Forward contracts

15

4.4

9.9

10

1.1
4.5

5

2.2

1.5

2014

2015+

0
2009

2010

2011

2012

Average hedge rates of forward contracts only
€ vs $**
1.26
1.35
1.41
1.41
£ vs $
1.69
1.78
1.87
1.85

2013

1.41
1.42
1.42
1.81
1.81
1.87
Mark-to-market value = € 0.2 bn
11* Total hedge amount containing as well $/ £ hedges** excl. plain-vanilla options

Record Level Net Cashin € m

FY 2008

FY 2007*

Net cash position at the beginning of the period

7,024

4,229

Gross Cash Flow from Operations1
Change in working capital2

4,571
(172)

3,862
1,236

(327)
58

61
1,158

Cash used for investing activities3(1,840)(1,744)of which Industrial Capex (additions)of which Others(1,837)(3)(2,028)284

of which Customer Financingof which Paradigm refinancing

Free Cash Flow3

2,559

3,354

Free Cash Flow before customer financing

2,886

3,293

Cash Distribution to shareholders / minorities
Capital increase
Disposal of treasury shares
Contribution to plan assets of pension schemes
Others

(107)
24
39
(436)
90

(98)
46
0
(303)
(204)

Net cash position at the end of the period

9,193

7,024

* restated
1) Gross cash flow from operations, excluding working capital change
2) Including cash-outflows of € 302 m for option premiums in 2008
3) Excluding change in securities, consolidation changes and contribution to plan assets

12

6

Content
Group Highlights
Financial Highlights
Divisional Performance
Guidance

13

Airbus
Revenues +9%€m

FY 2008 FY 2007 • Stronger volume:

Deliveries
Revenues
R&D self-financed**
in % of revenues
EBIT*
in % of revenues
Order book***in units, excl. A400M

483
27,453
2,209
8.0%
1,790
6.5%
344,818
3,715• vs. 2007: +19 SA; +6 LR; -6 WB +11 A380;
453
•
A400M
recoverable part of the costs [+0.8bn€];
25,216by dollar [-1.4bn€] and price
2,175 • Impacted
deterioration [-0.3bn€].
8.6%(881) EBIT*

283,829
3,421

Net order intake: 777 a/c
28% Asia Pacific
11% Europe
2% North America
29% Leasing
13% Middle East

58% Legacy
6% Others
29% Lessors
7% Low cost

17% RoW
Gross Orders by region• Strong recovery compared to FY 2007:• Good underlying business performance;• Significant positive currency impact; (see slide 24)• Less programme and restructuring charges;• A400M early stage accounting [-0.5bn€];• A380 Increasing costs due to difficult ramp up.

Gross orders by operator type

* pre goodwill impairment and exceptionals** capitalised R&D: € 17 m in FY 2008 and € 24 m in FY 2007*** total including A400M, commercial a/c valued at list prices

Major Achievements 2008:• Power8, Power8+ and divestment strategy
progressing;• Major advances on China partnership;• A350XWB : Detailed definition freeze at aircraft
level;• Seamless ramp up A320/A330.
14

7

MTA (to be consolidated in Airbus segment Q109)
FY 2008 FY 2007

€m

Revenue increase +142%:

Revenues
R&D self-financed
in % of revenues
EBIT*

2,759
9
0.3%
(16)

1,140 • Increase driven by A400M recoverable part ofthe costs [+1.1bn€];
16•
Stronggrowth in Tanker.
1.4%
(155)

Order book

22,26919,932

EBIT*:• Ramp up in Tanker Activity;• Less exceptional charges;• A400M early stage accounting [-41m€].

Revenue split

Major achievements 2008
• Order Intake above 5bn€, driven by Tankers;• A400M Power on, Flight Test Bed first flight inDecember;• Progress in Tanker development :• Air refuelling boom system finalised;• Australia Tanker flight test ongoing.

96% Defence

based on FY 2008 EADS external revenues*

15

pre goodwill impairment and exceptionals

Eurocopter
FY 2008 FY 2007

€m
Revenues
R&D self-financed
in % of revenues
EBIT*
in % of revenues
Order bookin units

4,486
134
3.0%
293
6.5%
13,824
1,515

4,172
93
2.2%
211
5.1%
13,455
1,388

Revenue split
45% Defence
55% Civil

55% Serial
Helicopters
32% Product Support
Customer Services
13% Dev. & otherbased on FY 2008 EADS external revenues*

pre goodwill impairment and exceptionals

Revenues up 8%• Record ramp up in series activities; +100 h/c
to 588 deliveries• Increase in customer services anddevelopment activities.
EBIT* growth 39%• Strong volume growth, better mix;
• Cost reduction initiatives;• Partially offset by foreign exchange impact
and higher R&D.
Major achievements 2008
• Globalisation :• EC725 industrialisation in Brazil;• LUH major success in the US;• EC175 joint development with China;• KHP development with Korea.
• Tiger: Final qualification of HAP/UHT versions• 1st EC135 delivery produced in Spain.
• Expansion in Services
168Astrium
FY 2008 FY 2007

€m
Revenues
R&D self-financed
in % of revenues
EBIT*
in % of revenues
Order book

3,550
78
2.2%
174
4.9% EBIT* growth 34%
12,895 • Increased productivity in Space Transportation;

4,289
69
1.6%
234
5.5%
11,035

Revenue split
46% Spacetransportation

35% Defence

Revenues up 21%• Growth from all areas: Commercial Telecom
Satellites, Ariane 5 and Earth Observation
Services;• Consolidation of Spot Image.

• Growth in Earth Observation and Paradigm
Services;• Spot Image consolidation effect [16m€];• R&D pre- tax credit stable;• Partially offset by weak € : £ exchange rate.

19% Services
35% Satellites

65% Civil

based on FY 2008 EADS external revenues*

Major achievements 2008
• ISS : ATV & Columbus docking & services;• M51 – 3rd flight test, 1st underwater launch;• Skynet 5 Communication Fleet completed;• Acquisitions: SSTL Ltd; Spot Image; i-Mass.

17

pre goodwill impairment and exceptionals

Defence & Security
FY 2008€m

FY 2007 Revenues up 5%

Revenues
R&D self-financed

5,668
174

5,392
168

in % of revenues

3.1%

3.1%

EBIT*

408

345

in % of revenues

7.2%

6.4%

Order book17,032

17,836

Revenue split
16% Defence Electronics
27% DCS
97% Defence

37% Military Air Systems
20% MBDA

based on FY 2008 EADS external revenues

Results include MBDA consolidation at 37.5%* pre goodwill impairment and exceptionals• Growth areas: Integrated Security Systems,
Secure Networks and UAV.
• Consolidation of Plant CML [+70m€].
• A400M recoverable part of the cost [+0.2bn€].
EBIT* up by 18%• Profitability improvement across all businesses:• Maturing programmes: Missiles, Radar,
Secure Networks;• Operational improvements / cost reduction
initiatives and lower restructuring.
Major achievements 2008
• Eurofighter – Tranche 2 delivery ramp up;• Acquisition of Plant CML;
• Tetra Network success, Beijing Olympics;• Significant progress in UAV;
• Commercial success in Radar activity;• Consolidation of Military Air Systems sites.
18

9Other Businesses
FY 2008 FY 2007

€m
Revenues
R&D self-financed
in % of revenues
EBIT*
in % of revenues
Order book

1,528
10
0.7%
80
5.2%
3,364

Revenue split
40% ATR
17% EADS NA
19% Sogerma
85% Civil
9% EFW
15% Socata

based on FY 2008 EADS external revenues*

pre goodwill impairment and exceptionals

1,407
8
0.6%
84
6.0%
2,740

Overall• Revenues up 9%;• EBIT roughly stable impacted by dollar
headwind;• EADS North America in Other businesses.
Sogerma• Sale of Revima completed;• Recovery confirmed.
ATR• 20 net orders; 55 deliveries; backlog 160 a/c.
• Softening market, ramp up frozen.
EFW• JV for A320/A321 Air Freighter Conversion;• A320 family freighter conversion launched.
North America• LUH Programme Ramp up.
Socata19• Agreed sale of 70% majority stake to Daher.

Content
Group Highlights
Financial Highlights
Divisional Performance
Guidance

20

10

2009 Outlook
Current situation• Rolling plan due to increasing uncertainties over time;• Deterioration of macro indicators and airline traffic figures;• Decision taken to reduce Airbus production rates to 34 SA per month from October; ramp up frozen

at 8.5 LR per month.

New orders• Between 300 and 400 gross orders at Airbus.

Revenues• Airbus deliveries up to the 2008 level, under that assumption, EADS revenues roughly stable in

2009.

EBIT*
• Low visibility:––

Wide range of possibilities for the A400M charge;
High volatility due to market, currency fluctuations and sales financing.

Free Cash Flow
• EADS is not expected to consume more than 1.5 billion € of free cash flow after customer financing

in 2009.
21*

pre goodwill impairment and exceptionals

Dividend Policy 2009
Gross Dividend Per Share, in €0.65
0.50 0.50

0.50
0.40
0.30
0.20*
0.12 0.12

2000

2001

2002

2003

2004

2005

2006

2007

2008

Ex-dividend date: 3 June 2009
Record date: 5 June 2009
Payment date: 8 June 2009*
• Board proposal to be submitted to the AGM 2009
• Subject to AGM approval, the payment will be made 8 June 2009.

22

11

Appendix
23

FY 2008 Forex EBIT* Impact Bridge

Forex impact on EBIT* ( in bn €)• Revaluation of Airbus LMC provisions
including USD (1.39) and GBP (0.95)• Temporary excess volume of matured hedges• 2007 A380 hedges• Deterioration of hedge rates (€ : $ 1.16 to 1.18)
out of which Airbus• Other one-off forex effect including PDP reversal

BRIDGE+1.3 *(0.3)(0.2)~(0.1)(0.2)
0.6

out of which Airbus

0.7* In Q4 2007 negative impact of -0.4 bn€ on EBIT24

12

FY 2008 Financial Highlights
FY 2008

FY 2007in % of€m

Revenues€min % of
Revenues

Revenues
self-financed R&D**
EBITDA*EBIT*
EBIT* before R&D

43,265
2,669
4,439
2,830
5,499

6.2%
10.3%
6.5%
12.7%

39,123
2,608
1,751
52
2,660

6.7%
4.5%
0.1%
6.8%

Net income / loss
EPS***

1,572
1.95 €Net Cash position

9,193

7,024

2,559

3,354

3.6%

(446)
(0.56 €)

(1.1%)

at the end of the period

Free Cash Flow

*
**
***

pre goodwill impairment and exceptionals
IAS 38: € 87 m capitalised during FY 2008; € 97 m capitalised during FY 2007
Average number of shares outstanding: 806,978,801 in FY 2008; 803,128,221 in FY 200725

Shareholding structure
Balance of control in corporate governance remains unchanged
Contractual Partnership
SOGEADE
Lagardère&
FrenchState

SEPI

25.00%*

5.49%
52.99%

Free float

Daimler

22.50%**

incl.
Minor direct holdings:
French State:
0.06%
Treasury shares 0.39%

47.01%

as of 31st Dec. 2008EADS*

On April 4, 2006, Lagardère issued mandatory exchangeable bonds. The EADS shares deliverable at the maturity of the bonds
will represent a maximum of 7.5% of the share capital of EADS. Lagardère converted 2.5% out of the 7.5% in June 2007 and an
additional 2.5% in June 2008. Lagardère intends to convert the remaining 2.5% at the end of March 2009.
** On February 9, 2007, Daimler reached an agreement with a consortium of private and public-sector investors through which it
will reduce its shareholding in EADS by 7.5%.

26

13

Expected EADS Average Hedge Rates€ vs. $
1.40
1.33
1.30
1.20

1.28

1.25
1.18
1.17

1.10

1.21

1.22

1.21

1.20

Q3

Q4

1.26
1.18

1.15

1.10

1.11

Q1

Q2

1.00
FY
2007
2008
Average FY 2008
2009e
Average FY 2009e27

Airbus Customer Financing
Active exposure management
Additions and Disposals
to Airbus customer financing gross exposure in $ bn
AdditionsSell Down
Amortization

2.5

1.5

1.5

1.2

1.5

1.4

0.5
-0.5

Net Exposure fully
provisioned

0.6
(0.7)
(0.2)

-1.5
-2.5

(2.9)

-3.5

(0.2)
1998
6.1

1999
4.3

1.0

0.5

(0.9)

(0.7)

(0.1)

(0.2)

(0.2)
(0.7)

(0.3)

(1.0)

0.9

2001
3.1

2002
3.8

2003
4.8

(2.2)

(1.1)

(0.1)

2005
3.8

Exposure2006
1.8($ 1.5 bn)
2007
1.5

2008
1.5

Net
Exposure€ 0.6 bn

€ 1.1 bn

(0.1)
(0.2)

2004
4.6

Gross

0.3
(0.2)

(0.2)

Net change

2000
3.9

0.8

(1.3)

(0.2)
(0.3)

0.4

Estimated
Collateral€ 0.5 bn

31st Dec. 2008

Gross exposure ($bn)• Continuing Reduction since 2004 reflects market recovery• Remains at all-time-low since late 80’s
• Allocated over 74 aircraft
28

14

Customer Financing Exposure€ million
closing rate 1 € =Dec. 2008

Dec. 2007$ 1.39$ 1.47

1,052
369
(476)
576
(576)
0

990
398
(411)
579
(579)
0

224
46
(203)
21
(21)
0

236
42
(211)
25
(25)
0

100% AIRBUS
Total Gross exposureof which off-balance sheet
Estimated value of collateralNet exposure
Provision and asset impairment
AIRBUS Net exposure after provision

50% ATR
Total Gross exposureof which off-balance sheet
Estimated value of collateralNet exposure
Provision
ATR Net exposure after provision29

Q4 2008 Key Figures
Q4 2008in € bn

Q4 2007***

Revenues

13.8

11.6

EBIT*

0.8

0.4

FCF before customer financing**

0.9

3.1

New orders

9.9

54.4

Revenues
AirbusMTA
Eurocopter
AstriumDS
HQ & Othersof which other businessesof which HQ & eliminations

Total EADS

EBIT*

Q4 2008 change
8,008 € m
26%
810 € m 543%
1,705 € m
8%
1,540 € m
13%
2,178 € m
-3%(416 € m)-%

Q4 2008289 €m52 €m129 €m94 €m189 €m59 €m

Q4 2007***(204 €m)(11 €m)98 €m103 €m219 €m200 €m422 € m(838 € m)

-4%
-%

17 €m
42 €m

18 €m
182 €m13,825 € m

19%812 €m405 €m*pre goodwill and exceptionals** excluding investments in medium term securities and consolidation changes*** MBDA consolidated at 37.5% in 2008; Q4 2007 figures adjusted

30

15

EBIT* Calculationin €m

FY 2008

FY 2007

EBIT*

2,830

52

Exceptionals:
Disposal of goodwill

0

(12)

Fair value depreciation

(52)

(49)

Fair value disposal

(6)

(24)

2,772

(33)

Profit (loss) before finance costand income taxes

31* pre goodwill impairment and exceptionals

Net Income / Loss pre-exceptionals
in € mNet income / loss*
EPS* (1)FY 2008

FY 2007

1,613
2.00 €(433)(0.54 €)

0
(58)
17
-

(12)
(73)
22
50

1,572
1.95 €(446)(0.56 €)

Exceptionals:
Disposal of goodwill
Fair value adjustment
Related tax impact
Change in German income tax rate

Net income / loss
EPS (1)* pre goodwill impairment and exceptionals; the term “exceptionals” refers to such items as depreciation expensesof fair value adjustments relating to the EADS merger, the Airbus creation and the formation of MBDA.
(1) Average number of shares outstanding: 806,978,801 in FY 2008; 803,128,221 in FY 2007

32

16

Net Cash Positionin €mGross cash

Dec. 2008

Dec. 2007

13,697

11,838Financial Debts
Short-term Financial Debts(1,458)(1,724)Long-term Financial Debts(3,046)(3,090)

9,193

7,024

Reported Net cash
Airbus non-recourse debt

Net cash excl. non-recourse

737

859

9,930

7,883

33

EADS: Strong Liquidity Position
as of 31 December 2008

•
•
•
•
•

3.0 bn €Credit Facility

4.5 bn €Financing Liabilities(incl. € 1.5 bn proceeds of EMTN)

Maturity 2012
Undrawn
Fully committed by 36 banks
No financial covenants
No MAC clause

EMTN progamme• Long term rating : A1 / BBB+
• CDS in line with its rating/sector

13.7 bn €Total Gross CashInvested in highly rated securities
Readily available within a few days

9.2 bn €Net Cash34

17

Balance Sheet Highlights: Assets
in € mDec. 2008

Dec. 2007

Non-current Assetsof which Intangible & Goodwillof which Property, plant & equipmentof which Investments & Financial assetsof which positive hedge mark-to-market
of which Non-current securities

35,924
11,171
12,156
4,068
1,101
3,040

37,051
10,832
13,393
3,791
2,440
2,691

Current Assetsof which Inventoryof which Cashof which Current securitiesof which positive hedge mark-to-market

40,22919,452
6,745
3,912
1,482

38,405
18,906
7,549
1,598
2,955

263

0

Total Assets

76,15375,456

Closing rate €/$

1.39

1.47

of which Assets classified as held for sale** On January 7, 2009, DAHER acquired a 70% majority share in Socata and Socata Aircraft (USA) from EADS. Additionally, Airbus
sold its site in Filton (UK) to GKN on January 5, 2009. Due to the high probability of a positive outcome of the aforementioned
transactions at the end of 2008, the non-current and current assets of these operations amounting to 263 M € are reclassified toassets / disposal groups classified as held for sale (prior year-end: 0 M €). Liabilities directly associated to assets classified asheld for sale amount to 155 M € (prior year-end: 0 M €).

35

Balance Sheet Highlights: Liabilitiesin € mTotal Equityof which OCI (Other Comprehensive Income)of which Minority interests

Total Non-current liabilitiesof which pensionsof which other provisionsof which financial debts
of which European gvts refundable advancesof which Customer advancesof which negative hedge mark-to-market

Dec. 2008 Dec. 2007
11,126

13,175

1,758
104

5,076
85

28,302

28,213

4,335
3,144
3,046
4,563
8,843

4,382
3,673
3,090
4,854
8,420

2,208

258

Total Current liabilities

36,72534,068of which pensionsof which other provisionsof which financial debts
of which European gvts refundable advancesof which Customer advances

211
4,372
1,458
357
17,802

286
4,092
1,724
461
16,214of which negative hedge mark-to-market

657

36

of which liabilities associated with assets held for sale*155

076,15375,456

Total Liabilities and Equity* On January 7, 2009, DAHER acquired a 70% majority share in Socata and Socata Aircraft (USA) from EADS. Additionally, Airbus
sold its site in Filton (UK) to GKN on January 5, 2009. Due to the high probability of a positive outcome of the aforementioned
transactions at the end of 2008, the non-current and current assets of these operations amounting to 263 M € are reclassified toassets / disposal groups classified as held for sale (prior year-end: 0 M €). Liabilities directly associated to assets classified asheld for sale amount to 155 M € (prior year-end: 0 M €).

36

18

Quarterly Revenues Breakdown(cumulative)
in €m

Q1

H1

2008

2007**

2008

Airbus

7,057

6,606

MTA

636

Eurocopter

9m

FY

2007**

2008

2007**

13,586

12,88919,445

133

898

307

732

671

1,795

Astrium

751

629

1,701

DS

990

905

HQ & others(313)

of which other BUs*
of which HQ & elim.

Total EADS

2008

2007***

18,85627,45325,216

1,949

1,014

2,759

1,140

1,644

2,781

2,599.

4,486

4,172

1,420

2,749

2,191

4,289

3,550

2,167

2,063

3,490

3,149

5,668

5,392

(10)

(408)

33

(974)

(258)

(1,390)

(347)

297
(610)

311
(321)

688
(1,096)

668
(635)

1,106
(2,080)967(1,225)

1,528(2,918)1,407(1,754)

9,853

8,934

19,739 18,356

29,44027,551

43,265

39,123* Other BUs: ATR, EFW, Socata, Sogerma and EADS North America** 2007 figures adjusted for MBDA consolidated at 37.5% and EADS North America

37*** FY 2007 figures adjusted for EADS North America

Quarterly EBIT* Breakdown(cumulative)
in €m

Q1

2008

H1

2007*** 2008

9m

FY

2007***

2008

2007***

2008

2007****

Airbus

628

(69)

712

19

1,501

(677)

1,790

(881)

MTA

(1)

(13)

(20)

(29)

(68)

(144)

(16)

(155)

Eurocopter

37

33

104

35

164

113

293

211

Astrium

33

10

88

47

140

71

234

174

DS

33

(5)

134

70

219

126

408

345

HQ & others

39

132

140

216

62

158

121

358

of which other BUs**
of which HQ & Elim.

19
20

20
112

35
105

45
171

63
(1)

66
92

80
41

84
274

Total EADS

769

88

1,158

358

2,018

(353)

2,830

52

* pre goodwill impairment and exceptionals** Other BUs: ATR, EFW, Socata, Sogerma and EADS North America*** 2007 figures adjusted for MBDA consolidated at 37.5% and EADS North America**** FY 2007 figures adjusted for EADS North America

38

19Quarterly Order-intake Breakdown(cumulative )
in €m

Q1

H1

9m

FY

2008

2007** 2008

2007**

2008

2007**

2008

Airbus

31,4885,464

41,06960,36775,17969,66782,041

MTA

3,836

123

4,209

250

5,100

359

5,083

784

Eurocopter

1,738

2,604

2,933

4,332

3,821

5,460

4,855

6,584

AstriumDS
HQ & othersof which other BUs*
of which HQ& Elim.

Total EADS

2007***
117,323

874

963

1,871

2,290

2,683

2,819

3,294

4,492

1,313

1,237

2,383

2,686

3,555

3,804

5,287

7,460

21

69

(1,267)212(1,638)

314
(293)

314
(245)

717
(1,984)

768
(556)

1,002
(2,640)

1,215
(902)

1,895
(3,807)1,963(1,807)39,27010,46051,19870,137 88,700

82,422

98,648

136,799313 (1,912)

156* Other BUs: ATR, EFW, Socata, Sogerma and EADS North America** 2007 figures adjusted for MBDA consolidated at 37.5% and EADS North America*** FY 2007 figures adjusted for EADS North America

39

Quarterly Order-book Breakdown

in €m

March

2008

June

2007**

2008

Sept.

2007**

2008

Dec.

2007**

2008

2007***

Airbus291,116 206,372

294,790 251,743 341,630 248,540 344,818 283,829

MTA

23,068 20,307

23,173

20,25622,996

19,63022,26919,932

Eurocopter

14,461 12,975

14,592

13,73014,494

13,904

13,824

13,455Astrium

12,711 12,543

12,77013,125

12,552

12,802

11,035

12,895DS

18,012 16,171

17,962

16,486

17,793

16,43917,032

17,836

HQ & others(7,906)(8,510)(9,109)(8,727)(8,789)(8,229) (8,730)(8,415)of which other BUs*
of which HQ& Elim.

2,979(10,885)

2,581(11,091)

2,990(12,099)

2,295(11,022)

2,971(11,760)

2,437(10,666)

2,740(11,155)

351,462 259,858

354,178

Total EADS

3,364
(12,094)306,613 400,676 303,086 400,248 339,532* BUs: ATR, EFW, Socata, Sogerma and EADS North America** 2007 figures adjusted for MBDA consolidated at 37.5% and EADS North America*** FY 2007 figures adjusted for EADS North America

4020