Airbus Group Reports First Quarter (Q1) 2016 Results•2016 guidance maintained, commercial aircraft order backlog robust•

Revenues € 12 billion; EBIT* before one-off € 501 million; Earnings per share € 0.51•

Q1 financials driven by back-loaded delivery schedule•

Continued focus on programme ramp-up and NEO transition

Amsterdam, 28 April 2016 – Airbus Group SE (stock exchange symbol: AIR) reported firstquarter 2016 results and maintained its guidance for the full year.
“2016 turns out to be the challenging year we anticipated. Overall, we expect a stable financialperformance but deliveries, cash and earnings will be heavily loaded towards the end of theyear. And that already shows in our first quarter performance,” said Tom Enders, Airbus Group
Chief Executive Officer. “Operationally, we continue to focus on the production ramp-ups of ourAirbus A350 and A320 programmes and on the change-over to the new engine versions of theA320 and A330. On the military side, we are now facing a serious challenge for production andcustomer deliveries of the A400M due to new, unexpected issues on the engine propeller
gearbox. It’s very frustrating but we’ll have to work through this with our engine partners. So, ina nutshell, despite these challenges we maintain our 2016 guidance and also our earnings andcash growth story for the coming years based on our strong commercial order backlog and therobust, well-resourced production ramp-ups underway.”
Group order intake(1) in the quarter was € 7.2 billion (Q1 2015: € 21 billion), with theorder book(1)value totalling € 957 billion as of 31 March 2016 (year-end 2015: € 1,006 billion).
Airbus received 10 net commercial aircraft orders (Q1 2015: 101 net orders) with gross orders of
32 aircraft including 14 A330neos and two A380s for Emirates Airline. Fourteen of the22 cancellations in the quarter were CEO (current engine option) to NEO (new engine option)
conversions for the A320 and A330. Airbus Helicopters received 51 net orders (Q1 2015: 86 units),including 38 Ecureuil light rotorcraft. Order intake by value rose five percent at Airbus Defence andSpace, driven mainly by earth observation satellites and defence contracts.
Group revenues were stable at € 12.2 billion (Q1 2015: € 12.1 billion). Despite lower deliveries of125 aircraft (Q1 2015: 134 aircraft), revenues were stable at Commercial Aircraft supported byAirbus Group4, rue du Groupe d'Or
BP 9011231703 – Blagnac Cedex
FrancePhone: +33 (0) 5 31 08 50 30
E-mail: CorporateMediaRelations@airbus.com
Web: airbusgroup.com
Follow us on twitter: twitter.com/AirbusGroup
Subscribe to our RSS feed: airbusgroup.com/RSSthe strengthening average U.S. dollar rate. Helicopters’ revenues declined 10 percent, reflecting
lower deliveries of 56 units (Q1 2015: 62 units) and an unfavourable mix.
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 – was € 501 million(Q1 2015: € 651 million). Commercial Aircraft’s EBIT* before one-off totalled € 407 million(Q1 2015: € 569 million), driven mainly by the back-loaded profile of deliveries and A330 rateadjustment but partly compensated by lower research and development (R&D) costs.
Helicopters’ EBIT* before one-off declined to € 33 million (Q1 2015: € 52 million), mainlyreflecting lower volumes and an unfavourable mix. Defence and Space’s EBIT* before one-off
increased 21 percent to € 109 million (Q1 2015: € 90 million), supported by programme
execution, portfolio focusing and efficiency measures.
Group self-financed R&D expenses declined to € 547 million (Q1 2015: € 701 million).
The A350 XWB ramp-up is progressing with the focus on bottlenecks in the supply chain,
reducing outstanding work and controlling recurring costs. This is increasingly challenging.
The target for a monthly production rate of 10 A350s by the end of 2018 remains unchanged.
Five A320neos were delivered in the first quarter to two customers. Pratt & Whitney iscommitted to supplying new engines for aircraft delivery from the summer of 2016. The engines
are expected to be delivered to the right level of maturity to enable the NEO ramp-up in thesecond half of 2016. Overall, the A320 ramp-up preparation continues despite temporary supply
chain challenges that are expected to be recovered by year-end.

In the context of its internal compliance improvement programme, Airbus Group discovered
certain mistakes and omissions relating to information provided in respect to consultants andother third parties in applications for export credit financing for Airbus customers and as a result
has informed the relevant U.K. authorities. Some Export Credit Agency (ECA) financing has
been temporarily suspended. The Group is cooperating with the relevant ECAs to resolve thisissue as soon as possible and hopes to obtain financing or refinancing in the near future.

On the A400M, following a recent Airworthiness Directive from the European Aviation Safety
Agency linked to the propeller gearbox on the engine, a thorough technical and industrial
evaluation has been launched to secure both short- and long-term solutions. The expected2

impact on aircraft in service and how they can be supported, implications on the delivery
schedule and ongoing discussions with customers are under assessment. Furthermore,industrial efficiency and military capability remain a challenge during the ramp-up phase.
The Company is working with customers to agree a schedule of military capability enhancementand deliveries. Overall, the cost at completion assessment will need to be adapted accordingly,but at this stage there is not a sufficiently mature view of the technical, commercial andindustrial consequences and their potential impact on the financial statements, which could besignificant.

As part of the portfolio reshaping, an agreement was signed during the first quarter regarding
the sale of the Defence Electronics business.
Reported EBIT*(3) of € 365 million (Q1 2015: € 1,241 million) included net one-offs totalling€ -136 million, representing the negative impact from the dollar pre-delivery payment mismatchand balance sheet revaluation. The first quarter of 2015 included a net gain of € 697 million
from the sale of shares in Dassault Aviation.
Net income(4) in the first quarter of 2016 was € 399 million (Q1 2015: € 792 million) withearnings

per share of € 0.51 (Q1 2015: € 1.01). The finance result of € 193 million (Q1 2015: € -366 million)
included a positive revaluation of over € 280 million mainly linked to the strengthening of theeuro. In the first quarter of 2015, this revaluation had a negative impact.
Free cash flow before mergers and acquisitions amounted to € -2,986 million (Q1 2015:€ -1,136 million), reflecting the back-loaded delivery profile in 2016 and the ramp-up preparation
for the A320, A320neo and A350. Free cash flow was € -3,131 million (Q1 2015: € 452 million).
The net cash position on 31 March, 2016 was € 6.4 billion (year-end 2015: € 10.0 billion) with agross cash position of € 18.0 billion (year-end 2015: € 19.1 billion).
OutlookAs the basis for its 2016 guidance, Airbus Group expects the world economy and air traffic to growin 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.

3

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 economicperformance. 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.

About 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 € 64.5 billion and employed a workforce of around
136,600.

Airbus Group Investor Relations contacts:
Julie KITCHER

tel. +33 5 82 05 53 01

julie.kitcher@airbus.com

Thorsten FISCHER

tel. +33 5 67 19 02 64

thorsten.t.fischer@airbus.com

Mohamed DENDEN

tel. +33 5 82 05 30 53

mohamed.denden@airbus.com

Note to editors: Live Transmission of the Airbus Group Analyst Conference CallYou can listen to the First Quarter 2016 Results Analyst Conference Call with Chief Financial Officer Harald Wilhelm today
at 08:30 a.m. CET via the Airbus Group website: www.airbusgroup.com/Q12016. A recording of the call will be madeavailable in due course.

4

Airbus Group – First Quarter (Q1) Results 2016

(Amounts in euro)
Airbus GroupQ1 2016

Q1 2015

ChangeRevenues, in millions12,183

12,078+1%2,290

2,2840%874

1,757-50%

501

651-23%365

1,241-71%

Research & Development expenses,in millions

547

701-22%Net Income (4), in millions

399

792-50%Earnings Per Share (EPS) (4)0.51

1.01-50%

Free Cash Flow (FCF), in millions-3,131

452-Free Cash Flow
before M&A, in millions-2,986-1,136-

Free Cash Flow
before Customer Financing, in millions-2,876483-

Order Intake (1), in millions

7,245

20,994-65%

Airbus Group

31 March2016

31 Dec2015

ChangeOrder Book (1), in millions

956,980

1,005,864-5%

thereof defence, in millions

38,151

38,411-1%

Net Cash position, in millions

6,438

10,003-36%

Employees

135,801

136,574-1%

thereof defence, in millions
EBITDA(2), in millions

EBIT before one-offs
EBIT

(3)

, in millions(3), in millions

For footnotes please refer to page 7.

5

by Division

EBIT (3)

Revenues(Amounts in millions of Euro)

Q1
2016

Q1
2015

Change

Q1
2016

Q1
2015

ChangeCommercial Aircraft

8,668

8,565+1%

290

419

-31%

Helicopters

1,158

1,285-10%3352-37%

Defence and Space

2,534

2,603-3%

90

133-32%

Headquarters /Eliminations-177-375

--48

637

-Total12,183

12,078+1%365

1,241-71%

by Division

EBIT before one-offs(3)(Amounts in millions of Euro)

Q1
2016

Q1
2015

ChangeCommercial Aircraft

407

569

-28%

Helicopters

33

52-37%

Defence and Space109

90+21%

Headquarters /Eliminations-48-60-

Total

501

651-23%

Order Intake (1)by Division

Order Book (1)(Amounts in millions of Euro)

Q1
2016

Q1
2015

Change31 March2016

31 Dec2015

ChangeCommercial Aircraft

4,311

17,217-75%

904,589952,450-5%Helicopters

1,004

1,428

-30%

11,615

11,769-1%

Defence and Space

2,515

2,390

+5%

42,59642,861-1%

Headquarters /Eliminations

-585

-41

--1,820-1,216

-

Total

7,245

20,994-65%

956,980

1,005,864-5%

For footnotes please refer to page 7.

6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 toequity owners of the parent as defined by IFRS Rules.
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 riskand 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, favourableoutcomes 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, theoutcome 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 othercurrencies, 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 5 April 2016. For
more information, please refer to www.airbusgroup.com.

7