Full Year 2009
Earnings

Conference Call, 9th March 2010Louis Gallois
CEO
Hans Peter Ring
CFO

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 performance and outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future
events and circumstances and there are many factors that could cause actual results and developments to differ materially from those 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 andspace 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 such forward-looking statements. For a
discussion of factors that could cause future results to differ from such forward-looking statements, see EADS’ “Registration Document” dated
22nd April 2009.
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.

EADS – FY 2009 earnings

2Contents

Group Highlights
Financial Highlights
Divisional Performance
Objectives and Guidance

EADS – FY 2009 earnings

3A400M update

Signature of a principle agreement in which the nation customers agree to:• Increase the price of the contract by € 2 bn;• Waive all liquidated damages related to current delays;• Provide an additional amount of € 1.5 bn in exchange for a participation in future export sales (Export
Levy Facilities);• Accelerate pre-delivery payments in the period of 2010 to 2014;• Original contract to be amended.

Financial Implications:• Provision update based on principal agreement and management assumptions;• Management assumptions: Export Levy Facility included in the provision calculation; escalation formulaof the original contract; programme risk contingency; no further liquidated damages;• Reassessment of management assumptions could have a significant impact on future results;• EBIT* pre-tax impact for EADS: € -1.8 bn for FY 2009 (balance sheet provision FY 2009: € 2.5 bn);
• Free Cash Flow: willingness of the parties to mitigate negative cash impacts in the short term.

* Pre-goodwill impairment and exceptionals.
EADS – FY 2009 earnings

4Group Highlights: FY 2009

Business highlights• Challenging commercial environment in 2009; proactive order book management;– Order book € 389 bn at FY 2009 of which Defence € 57 bn;• 2010: Commercial momentum improving. Decision taken to increase Single Aisle production to rate 36
per month from December;• Strong delivery patterns across all businesses:– 498 commercial aircraft, 558 helicopters, 7 Ariane 5 launchers, EF Tranche 2 ramp-up;• A400M : Successful first flight.

Financial Highlights• Revenues € 42.8 bn, of which € 28.1 bn for Airbus;• EBIT* before one-off: € 2.2 bn for EADS, € 1.1 bn for Airbus, in line with guidance;• Net cash: € 9.8 bn; refinancing of € 1 bn Euro bond completed;• Free Cash Flow generation of € 0.6 bn:– Improved by unexpected government payments in December;– Customer financing needs lower than expected;– Free Cash Flow before A400M € 0.6 bn, better than guidance.
• Net Loss € -0.8 bn, weighed down by A400M charge of € 1.8 bn.
* Pre-goodwill impairment and exceptionals.
EADS – FY 2009 earnings

5Efficiency and Integration

Power 8: € 2.0 bn gross savings in Airbus completed by end 2009, compared to projected costbase.
• ROC: ~8,000 overhead positions reduced 2009; less costly than expected; restructuring provision adjusted € +140 m;
working on 2,000 positions to be reduced in 2010;• Supply chain streamlining and logistics integration;• Lean manufacturing implemented across all sites.

Power 8+: € 1.0 bn gross annual savings at EADS targeted for end 2012, compared to projected
cost base, now starting.
• Airbus: Continue Power 8 efforts; Redesign implementation SA / LR; Subcontracting engineering off-shoring; more low
cost dollar zone sourcing;• Eurocopter: Lead time reduction, enhanced productivity;• Astrium and DS: Engineering optimisation, production flow management, procurement improvement.

Future EADS: € 350 m gross annual savings targeted for end 2012, compared to projected costbase.
• Savings will be achieved through simplification, harmonisation and integration of support functions;• 700 people working on 120 projects – for details see slide 25 in appendix;• Integration and Co-ordination:– Airbus Military: optimisation of programme management and resource allocation;– Co-ordination of Space and Defence: creation of Centre of Excellence electronics manufacturing andmanufacturing-related engineering.
• After Non Recurring Cost impact, net EBIT impact neutral in 2010, slightly positive in 2011.
EADS – FY 2009 earnings

6

Contents

Group Highlights
Financial Highlights
Divisional Performance
Objectives and Guidance

EADS – FY 2009 earnings

7

FY 2009 Financial Highlights

8

FY 2009

FY 2008

ChangeRevenues

42.8

43.3

-1%

of which Defence

10.8

11.0

-2%

EBIT* before one-off

2.2

3.3

-33%

Order intake

45.8

98.6

-54%

Dec. 2009

Dec. 2008

Change

389.1

400.2

-3%

57.3

54.9

+4%

in € bnin € bn
Total Order book**of which Defence• Decrease in EBIT* before one-off mainly due to:– Deterioration of hedge rates and pricing on Airbus commercial deliveries,
partially compensated by Power 8 savings.
• A380 continues to weigh substantially on EBIT before one-off.
EADS – FY 2009 earnings* Pre-goodwill impairment and exceptionals** Order book based on list prices

FY 2009 EBIT* Before One-off

9

EADS
Group

AirbusDivision

EBIT* before one-off 2009 (see slide 27 for 2008 detail).

2.15

1.07

% Revenues (excl. A400M early stage revenues € 0.5 bn)

5.1%

3.9%

(1.85)(1.82)• Foreign exchange impact on A400M

0.03

0.03

• A380 Loss Making Contract provision update(0.24)(0.24)• Revaluation of all Loss Making Contracts ($ and £)(0.05)(0.05)• $ PDP reversal and balance sheet revaluation(0.44)(0.44)• Other one-off

0.08

0.08

EBIT* Reported(0.32)(1.37)in € bn

One off impacts:• A400M **EADS – FY 2009 earnings

A400M Provision€ - 1.8 bn* Pre-goodwill impairment and exceptionals** After currency impact: € - 1.82 bn at EADS, € - 1.79 bn at Airbus.

FY 2009 Profit & Loss Highlights

FY 2009
in % of
Revenues€m10

FY 2008
in % of€m
Revenues

EBIT*

(322)

(0.8%)

2,830

6.5%

Self-financed R&D**

2,825

6.6%

2,669

6.2%

EBIT* before R&D

2,503

5.8%

5,499

12.7%

Interest result(147)(0.3%)

36

0.1%

Other financial result(445)(1.0%)(508)(1.2%)

Taxes

220

0.5%

(703)

(1.6%)Net income (loss)(763)(1.8%)

1,572

3.6%

EPS***EADS – FY 2009 earnings€ (0.94)€ 1.95* Pre-goodwill impairment and exceptionals** IAS 38: € 46 m capitalised during FY 2009; € 87 m capitalised during FY 2008*** Average number of shares outstanding: 809,698,631 in FY 2009; 806,978,801 in FY 2008

Currency Hedge Policy

11• Approximately 50% of EADS’ US$ revenues naturally hedged by US$ procurement;• In FY 2009 hedges of $ 16.5 bn* matured at an average hedge rate of € 1 = $ 1.26;• In FY 2009, new forward contracts of $ 16.2 bn** were added at an average rate of € 1= $ 1.39.

EADS hedge portfolio, 31st Dec. 2009($ 60.8 bn*), average forward rate € 1 = $ 1.39*** and £ 1 = $ 1.73

US$ bn20
15

Options

16.8
0.9

15.6
1.0

Forward contracts

12.4
8.5

10

4.5

5

3.0

0
2010

2011

2012

2013

2014

2015+

Average hedge rates of forward contracts only
€ vs $*** 1.35
1.39
1.40
1.41
£ vs $
1.73
1.85
1.69
1.60

1.42
1.64

1.42
1.71

Mark-to-market value = € 1.3 bn

EADS – FY 2009 earnings* Total hedge amount also contains $/ £ hedges** Includes $ 4.6 bn of options restructuring*** Excluding options

Free Cash Flow12

FY 20099,193

FY 2008
7,024

Gross Cash Flow from Operations*
Change in working capitalof which Customer Financing

2,423
15
(406)

4,571
(172)
(327)

Cash used for investing activities**of which Industrial Capex (additions)of which Others(1,853)(1,957)104(1,840)(1,837)
(3)

585
991

2,559
2,886

17
(5)
(166)
(173)
346
9,797

24
39
(107)
(436)
90
9,193

in € mNet cash position at the beginning of the period

Free Cash Flow**
Free Cash Flow before customer financing**
Change in non–controlling interests and capital increase
Change in treasury shares
Cash distribution to shareholders / non-controlling interests
Contribution to plan assets of pension schemes
OthersNet cash position at the end of the period* Gross cash flow from operations, excluding working capital change
EADS – FY 2009 earnings** Excluding change in securities and contribution to plan assets of pension schemes

Contents

Group Highlights
Financial Highlights
Divisional Performance
Objectives and Guidance

EADS – FY 2009 earnings

13

Airbus Division

14

Airbus Division (after interco elimination)
FY 2009€m
Deliveries
Revenues
R&D self-financed**
in % of revenues

EBIT*

FY 2008
restated

Airbus Military(excl. A400M)(Former MTAD, incl.A400M)

FY 2009

FY 2008
restated
483
26,5242,210

FY 2009
16
2,235
13

FY 2008
restated
19
2,759
9

28,0672,306

28,991
2,219

498
26,370
2,293

8.2%

7.7%

8.7%

8.3%

0.6%

0.3%

(1,371)

1,815

386

2,306

(1,754)

(493)

6.3%

1.5%

8.7%

357,824

320,3213,488

337,193
3,715

20,686250

22,269256

in % of revenues

Order book***in units***

Airbus Commercial

339,722

Net orders***

271 a/c
Segment

Gross Orders by Programme
1% LA
24% LR

69% SA

5% M&L
1% Tanker
EADS – FY 2009 earnings

Gross Orders by Region
9% Middle East
1% Leasing
23% Asia Pacific
34% Europe

33% RoW*
Pre-goodwill impairment and exceptionals** Capitalised R&D: € 15 m in FY 2009 and € 52 m in FY 2008*** Commercial a/c valued at list prices, excl. freighter conversions

10 a/cAirbus Division

15

Airbus Commercial (excl. A400M)
Revenues stable

EBIT*

•
•
•
•

• Good underlying performance of LR & SA aircraft but
A380 weighs on EBIT before one-off;• Higher volumes, lower A380 provision charges andPower 8 more than offset by:– Negative impact from fx effects (€ - 2.5 bn) see slide 26;– Price deterioration (€ 0.4 bn), net of escalation;– Cost increases.

Higher volume vs. 2008: +16 SA; +1 LR; -2 A380;
Price deterioration net of escalation (€ -0.4 bn);
Impact from foreign exchange (€ -0.4 bn);
Ramp down in Hawker.

Airbus Military (incl. A400M)
Revenues -19%

EBIT*

• Higher Tanker and Medium & Light activity offset by• Lower revenue recognition for the A400M (€ -1.0 bn):
– 2008 Power on milestone € 0.4 bn;– Early stage revenues lower by € 0.6 bn, first
application Q3 2008.

• Higher Tanker activity, weaker mix on Medium & Light
deliveries;• A400M charges:– 2009 charge € -1.8 bn;– 2008 charge € - 0.5 bn.

2009 Key Achievements• Commercial aircraft production rates maintained: SA rate 34, LR rate ~ 8 aircraft per month in 2009;• Single Aisle FAL in China; A330F first flight achieved in November;• A400M first flight; progress on A350 and A330 MRTT development.
EADS – FY 2009 earnings* Pre-goodwill impairment and exceptionals

Eurocopter€m

16

FY 2009

FY 2008

Revenues
R&D self-financed

4,570
164

4,486
134

in % of revenues

3.6%

3.0%

EBIT*

263

293

in % of revenues

5.8%

6.5%

15,064
1,303

13,824
1,515

Order bookin units
Revenue split
48% Defence

52% Civil

55% Serial Helicopters

35% Product Support
Customer Services
10% Dev. & otherbased on FY 2009 EADS external revenues* Pre-goodwill impairment and exceptionals
EADS – FY 2009 earnings

Market• Civil market slow down confirmed. Net order intake 344
helicopters versus 715 in 2008, but 20% higher in value;• Short-term pressure on civil deliveries: -6% on total
deliveries in 2010.

Revenues +2%• 558 deliveries in FY 09 versus 588 in FY 08, including 15
NH90, 7 Tiger;• Favourable mix in serial helicopters, increase incustomer services;• Lower governmental and development revenues.

EBIT*• Positive contributions from services and cost savings
initiatives offset by:– Higher R&D for innovation and product investment;– Margin pressure on the NH90 programme reflecting
qualification and acceptance difficulties;– Negative foreign exchange impact.

Key achievements 2009••••

Strong inflow in military orders;
EC-175 first flight in co-development with AVIC, China;
Proving military capability with Tiger;
Development in Asia and in services.

Astrium€m17

FY 2009

FY 2008

Revenues
R&D self-financed

4,799
74

4,289
69

in % of revenues

1.5%

1.6%

EBIT*

261

234

in % of revenues

5.4%

5.5%

14,653

11,035

Order book

Revenue split
36% Defence

Revenues +12%
• Revenue increase across all businesses;• Non-operational catch-up effect for in-orbit
incentive schemes on commercial telecommunication
satellites (€ +0.2 bn) with low margin.

EBIT* +12%
• Productivity in earth observation satellites and Ariane 5
production;• Profitable growth in telecom services;• Low margin on telecom in-orbit incentives;• R&D pre-tax credit is stable;• Negative € : £ exchange rate for Paradigm services.

43% Space transportation

Key Achievements 2009

64% Civil

57% Satellites thereof
35% services

based on FY 2009 EADS external revenues* Pre goodwill impairment and exceptionals
EADS – FY 2009 earnings• Record level order intake of € 8.3 bn, thereof:• Batch of 35 Ariane 5 launchers;• M51 Production Tranche 3;• 7 telecom satellites including 4 for SES Astra.
• Skynet 5: € 2.5 bn contract delivered on time and to quality;• 35th consecutive successful Ariane 5 launch.

Defence & Security€m18

Revenues

FY 2009

FY 2008

Revenues
R&D self-financed

5,363
216

5,668
174

in % of revenues

4.0%

3.1%

EBIT*

449

408

EBIT* +10%

in % of revenues

8.4%

7.2%

18,796

17,032• Growth and margin improvements in core and export,
driven by Military Air Systems and Missiles;• Operational improvement;• More than offsets:– R&D investment for innovation and future growth;

Order book

Revenue split
99% Defence– Aerostructures carve out.
14% Defence Electronics

27% DCS

40% Military Air Systems

19% MBDA
1% Civilbased on FY 2009 EADS external revenues* pre goodwill impairment and exceptionals
EADS – FY 2009 earnings• Growth from Eurofighter ramp-up: core and export;• 2008 baseline includes Augsburg Aerostructures
activities (€ 0.4bn).

Key Achievements 2009
• Order intake € 8 bn, thereof:• Eurofighter Tranche 3a;• Saudi Arabia Border Security;• 1st Export contract in Airport Surveillance Radar.
• Strategic advances in UAV;
• Launch of assessment phase for Team Complex
Weapons, UK and France.

Other Businesses€m19

FY 2009

FY 2008

Revenues
R&D self-financed

1,096
6

1,338
9

in % of revenues

0.5%

0.7%

21

43

in % of revenues

1.9%

3.2%

Order book

1,952

3,169

EBIT*

21% Sogerma

51% ATR

74% Civil

28% EADS NA

based on FY 2009 EADS external revenues* Pre goodwill impairment and exceptionals
EADS – FY 2009 earnings• Perimeter changes:– EFW in Airbus segment, 2008 figures restated;– 30% of Socata now accounted for at equity
revenue impact (€ 0.3 bn). 2008 figures are notrestated.
• EBIT* lower:– Positive cost evolution at Sogerma;– Negative impact from foreign exchange at ATR;
– Lower EBIT* in North America.

ATR

Revenue split
26% Defence

Overall• Net orders 26 in 2009, up from 20 in 2008;• FY 09: 53 deliveries, 23 a/c delivered in Q4; 133 a/c inthe backlog;• Proactive management of order book despite weakcustomers and difficult financing environment;• Weaker delivery outlook for 2010.

North America• LUH Programme progressing well 45 deliveries in FY 09;• New US Tanker competition: no joint bid will be
submitted.

Contents

Group Highlights
Financial Highlights
Divisional Performance
Objectives and Guidance

EADS – FY 2009 earnings

20

21

2010 Outlook

Commercial Cycle••••

Group fundamentally solid to cope with 2010 economic environment which is improving but is still volatile;
Resilient backlog of 3,488 a/c in Airbus, 1,303 in Eurocopter and strong backlog in the Space and Defence businesses;
Based on a number of active campaigns, gross orders at Airbus should be 250-300 in 2010;
In 2010, Airbus expects to deliver up to the same level of aircraft as in 2009. Eurocopter should deliver around 6 percent
less helicopters in 2010 compared to 2009.

Revenues• Therefore, using € 1 = $ 1.40 as the average spot rate, EADS revenues should be roughly stable in 2010.

EBIT*• EADS EBIT* in 2010 will be around € 1 billion. The deterioration of the hedge rates will weigh by about € -1 billion
compared to 2009. A380, while slightly improving, will continue to weigh substantially on the EBIT* before one-off as in2009. Cost savings and some improvement in aircraft pricing should contribute positively while weaker helicopter
deliveries, some increase in Research & Development (R&D) and cost inflation will weigh on profitability;• Going forward, EBIT* performance of EADS will be dependent on the Group’s ability to execute on the A400M, A380 andA350 programmes in line with the commitments made to its customers.

Free Cash Flow
• Provided a sustainable year end cash inflow of institutional and government business and subject to Pre Delivery
Payment advances in the A400M programme, Free Cash Flow before customer financing break even;• Free Cash Flow should be negative due to customer financing cash-outflows of around 1 billion euros.

EADS – FY 2009 earnings* pre-goodwill impairment and exceptionals

222010 Top Objectives 1 of 2

Execution• Programme Management– Deliver on key programmes:
A400M

A380

A350 XWB• Efficiencies– Integration;– Margin growth and cash management.

EADS – FY 2009 earnings

NH90

Saudi bordersurveillance232010 Top Objectives 2 of 2

Growth• Prepare for future programmes through innovation

Mid-life upgrade Ariane 5
and Ariane 6

Future commercial aircraft
and helicopters• Mid-long term vision– Globalisation: extend our global footprint;– Develop services.

EADS – FY 2009 earnings

Talarion
Advanced UAV

Appendix

Future EADS

25

Future EADS
€ 350 m annual gross savings targeted for end 2012, compared to projected cost base.

Work Streams:• Finance:
Simplification and integration of reporting andsystems, reduction of working capital,
optimisation of current shared services;• Human Resources:
Optimisation of shared services on payroll,
recruitment, learning;• Real Estate:Group-wide centre of competence;• Facility Management:
Savings on energy, technical facility throughgolden rules; new group-wide organisation in ashared service;• Information & Communication Technology:
Harmonisation of infrastructure; optimisation ofshared services;
EADS – FY 2009 earnings• General Procurement:
Product development: improvement of subcontracting (better maturity of specifications),savings in travel and living, rationalisation oflogistic and transport suppliers;• Sales & Marketing:
Optimisation of international presence, officerationalisation, better definition of roles;• Communication:
Optimisation of exhibitions, events andadvertising;• R&T:IP exploitation and public funding;• Security:
Apply best practice.

FY 2009 Forex EBIT* Impact Bridge

Forex impact on EBIT* ( in € bn )• Revaluation of Airbus LMC provisions• Deterioration of hedge rates (€ : $ 1.18 to 1.26)
out of which Airbus• Other one-off forex effect including PDP reversal

26

BRIDGE(0.9) *
(0.9)~(0.9)

(0.7)

(2.5)
out of which Airbus* In FY 2008 positive impact of € 0.9 bn on EBIT*EADS – FY 2009 earnings(2.5)

FY 2008 EBIT* Before One-off

27

EADS
Group

in € bn

AirbusDivision

3.3

2.1 **• Reassessment of A400M charge***

(0.8)

(0.6)

• LMC provision (mainly A380)

(1.0)

(1.0)

• Revaluation of all Loss Making Contracts at closing spot

0.9

0.9

• Other one-off

0.4

0.4

EBIT* Reported

2.8

1.8

EBIT* before one-off 2008
One off impacts:* Pre-goodwill impairment and exceptionals** Includes EFW and former MTA*** After currency impact : EADS € - 704 m, Airbus segment € - 517 m
EADS – FY 2009 earnings

FY 2009 Financial Highlights

FY 2009
in % of
Revenues€m
Revenues
self-financed R&D**
EBITDA*EBIT*
EBIT* before R&D

42,822
2,825
1,446
(322)
2,503

Net income (loss)
EPS***(763)€ (0.94)

Net Cash positionat the end of the period
Free Cash FlowEADS – FY 2009 earnings

6.6%
3.4%
(0.8%)
5.8%(1.8%)

28

FY 2008
in % of
Revenues€m
43,265
2,669
4,439
2,830
5,499
1,572
€ 1.95

9,797

9,193

585

2.559

6.2%
10.3%
6.5%
12.7%
3.6%

* Pre-goodwill impairment and exceptionals** IAS 38: € 46 m capitalised during FY 2009; € 87 m capitalised during FY 2008*** Average number of shares outstanding: 809,698,631 in FY 2009; 806,978,801 in FY 2008

Shareholding structure

Contractual Partnership
SOGEADE
Lagardère&
FrenchState

SEPI

22.46%

5.48%
50.4%

29

Free float

Daimler

22.46%*

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

49.6%

as at 31st Dec. 2009EADS*

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%.

EADS – FY 2009 earnings

Expected EADS Average Hedge Rates € vs. $1.50

Average hedge rates of forward contracts only

1.40

1.39
1.35

1.36
1.35

1.32
1.33

1.30
1.29

1.26

1.25
1.20

30

1.19

1.17

1.21

2008
Average FY 2008

1.22
1.18

1.15

2010e
Average FY 2010e

1.10
Q1
EADS – FY 2009 earnings

Q2

2009
Average FY 2009

Q3

Q4

FY

Provision Consumption excluding A400M

3

in Bn €

2

1

0
Closing 2009

< 2013
Restructuring P ro visio ns

EADS – FY 2009 earnings

2013- 2014

Liquidated Damages

LM C> 201431

Airbus Customer Financing

32

Active exposure management
Additions and Disposals
to Airbus customer financing gross exposure in $ bn

2.5

AdditionsSell Down

Net Exposure fully
provisioned

Amortisation

1.5
1.4

0.5

0.6
(0.9)

-0.5
-1.5

(2.9)

(0.1)

0.5
(0.7)
(0.2)

1.5
(0.7)
(0.2)

1.5

1.0

0.9
0.4
(1.3)

(0.2)
(0.3)

(1.0)

(2.2)

0.8
(1.1)

0.3

(0.2)
(0.2)
(0.1)

(0.1)

(0.2)

-3.5

Exposure($ 1.8 bn)

Net change
(0.2)
(0.2)

Net
Exposure€ 0.5 bn

€ 1.3 bn

(0.1)

(0.3)

-2.5

Gross

0.6

Estimated
Collateral€ 0.8 bn

31st Dec. 2009

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

4.3

3.9

3.1

3.8

4.8

4.6

3.8

1.8

1.5

1.5

1.8

Gross exposure in $ bn

EADS – FY 2009 earnings

Customer Financing Exposure

33

100% AIRBUS
in € mClosing rate € 1 =Dec. 2009$ 1.44

50% ATR

100% EC

Dec. 2008 Dec. 2009 Dec. 2008
$ 1.39Dec. 2009

Total Gross exposure

1,260

1,052

159

224

of which off-balance sheet

335

369

47

46

Estimated value of collateral

(772)

(476)

(145)

(203)

76
47
(55)

Net exposure

488

576

14

21

21

Provision and asset impairment

(488)

(576)

(14)

(21)

(21)

0

0

0

0

0

AIRBUS Net exposure after provision

EADS – FY 2009 earnings

Q4 2009 Key Figures34

in € bn

Q4 2009

Q4 2008

Revenues
EBIT*
FCF before customer financing**

13.1
(1.4)
1.9

13.8
0.8
1.0

New orders

21.3

9.9

Revenuesin € mAirbusEurocopter
AstriumDS
HQ & Othersof which other businessesof which HQ & eliminations

Total EADS

EBIT*

Q4 2009
7,874
1,531
1,571
2,067
56

Q4 2008
8,426
1,705
1,540
2,178
(24)

Q4 2009(1,894)
98
106
229
50

Q4 2008
351
129
94
189
49

373
(317)

380
(404)

18
32

10
39

13,09913,825(1,411)812* Pre-goodwill and exceptionals** Excluding change in securities and contributions to plan assets of pension schemes
EADS – FY 2009 earnings

EBIT* Calculationin € m35

FY 2009

FY 2008

(322)

2,830

Disposal (fixed assets in other income)

(2)

(6)

Fair value depreciation

(56)

(52)

(380)

2,772

EBIT*
Exceptionals:

Profit (Loss) before finance costand income taxes* Pre-goodwill impairment and exceptionals

EADS – FY 2009 earnings

Net Income (loss) pre-exceptionals

36

in € m

FY 2009

FY 2008

Net income (loss)*
EPS* (1)
Exceptionals:
Fair value adjustment
Related tax impact(722)€ (0.89)

1,613€ 2.00

(58)
17

(58)
17

Net income (loss)
EPS (1)(763)€ (0.94)

1,572€ 1.95* Pre-goodwill impairment and exceptionals; the term “exceptionals” refers to such items as depreciation expenses of fair value
adjustments relating to the EADS merger, the Airbus creation and the formation of MBDA.
(1) Average number of shares outstanding: 809,698,631 in FY 2009; 806,978,801 in FY 2008.
EADS – FY 2009 earnings

Net Cash Positionin € m37

Dec. 2009

Dec. 2008

15,093

13,697

Short-term Financing Debts*(2,429)(1,458)Long-term Financing Debts(2,867)(3,046)

9,797

9,193

652

737

10,4499,930

Gross cash
Financing Debts

Reported Net cash
Airbus non-recourse debt
Net cash excl. non-recourse* 1 billion euro bond matures March 2010, reclassified to short term financial debt. Proceeds from the
newly issued Eurobond (August 09) will be used to refinance the upcoming March 2010 maturity.
EADS – FY 2009 earnings

EADS: Strong Liquidity Position38

as at 31st Dec. 2009

•
•
•
•
•

€ 3.0 bn
Credit Facility€ 5.3 bn
Financing Liabilities(incl. € 2.5 bn liabilities of EMTN)€ 15.1 bn
Total Gross CashInvested in highly rated securities€ 9.8 bn
Net Cash

EADS – FY 2009 earnings

Maturity 2012
Undrawn
Fully committed by 32 banks
No financial covenants
No MAC clause

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

Balance Sheet Highlights: Assets

39

Dec. 2009

Dec. 2008

Non-current Assets

37,79235,924of which Intangible & Goodwillof which Property, plant & equipmentof which Investments & Financial assetsof which positive hedge mark-to-market
of which Non-current securities

11,06012,508
4,724
1,307
3,983

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

Current Assets

42,51240,229of which Inventoryof which Cashof which Current securitiesof which positive hedge mark-to-market

21,577
7,038
4,072
937

19,452
6,745
3,912
1,482

0

263

Total Assets

80,304

76,153

Closing rate €/$

1.44

1.39

in € mof which Assets classified as held for sale

EADS – FY 2009 earnings

Balance Sheet Highlights: Liabilities

40

Dec. 2009

Dec. 2008

10,641

11,126

2,646
106

1,758
104

27,28728,302

5,080
3,057
2,867
4,882
8,579

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

732

2,208

Total Current liabilities

42,37636,725of which pensionsof which other provisionsof which financing debts
of which European gvts refundable advancesof which Customer advances

226
5,657
2,429
412
21,271

211
4,372
1,458
357
17,802

220

657

0

155

80,304

76,153in € mTotal Equityof which OCI (Other Comprehensive Income)of which Non-controlling interests

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

of which negative hedge mark-to-market
of which liabilities associated with assets held for sale

Total Liabilities and Equity

EADS – FY 2009 earnings

Quarterly Revenues Breakdown(cumulative)in € m

Q1

41

H1

9m

FY

2009

2008

2009

2008

2009

2008

2009

2008

Airbus Division

5,883

7,430

13,95114,14020,193

20,56528,06728,991

Thereof Airbus Comm.*

5,470

6,817

13,204

13,376

18,94918,782

26,37026,524

Thereof Airbus Military

456

636

855

898

1,637

1,949

2,235

2,759

Eurocopter

758

732

1,908

1,795

3,039

2,781

4,570

4,486

Astrium

904

751

2,194

1,701

3,228

2,749

4,799

4,289

DS
HQ & others

934
(12)

990
(50)

2,161
(19)

2,167
(64)

3,296
(33)

3,490
(145)

5,363
23

5,668
(169)

214
(226)

257
(307)

480
(499)

597
(661)

723
(756)

958
(1,103)

1,096(1,073)

1,338(1,507)

8,467

9,853

20,195

19,73929,72329,44042,82243,265of which other Bus**of which HQ & elim.

Total EADS* Airbus Commercial includes EFW and excludes A400M** BUs: ATR, Sogerma and EADS North America (in 2008: additionally including Socata)

EADS – FY 2009 earnings

Quarterly EBIT* Breakdown(cumulative)in € m

Q1

42

H1

9m

FY

2009

2008

2009

2008

2009

2008

2009

2008

Airbus Division

89

635

519

710

523

1,464

(1,371)

1,815

Thereof Airbus Comm.**

205

518

737

655

743

1,769

386

2,306

Thereof Airbus Military

(116)

118

(218)

55

(216)

(306)

(1,754)(493)

Eurocopter

38

37

99

104

165

164

263

293

Astrium

36

33

99

88

155

140

261

234

DS
HQ & others

21
48

33
31

143
28

134
122

220
26

219
31

449
76

408
80

0
48

9
22

2
26

17
105

3
23

33
(2)

21
55

43
37

232

769

888

1,158

1,089

2,018

(322)

2,830

of which other Bus***of which HQ & elim.

Total EADS* Pre goodwill impairment and exceptionals** Airbus Commercial incl. EFW and excludes A400M*** BUs: ATR, Sogerma and EADS North America (in 2008: additionally including Socata)

EADS – FY 2009 earnings

Quarterly Order-intake Breakdown(cumulative)in € m

Q1

43

H1

9m

FY

2009

2008

2009

2008

2009

2008

2009

2008

Airbus Divison

1,792

35,286

6,194

44,094

11,33578,991

23,90485,493

Thereof Airbus Comm.*

1,667

31,4706,025

41,056

10,48775,19723,461

82,108Thereof Airbus Military

164

3,836

247

4,209

1,049

5,100

637

5,083

Eurocopter

1,016

1,738

2,252

2,933

2,743

3,821

5,810

4,855

Astrium

5,641

874

6,396

1,871

6,956

2,683

8,285

3,294

918
(39)

1,313
59

2,346
(29)

2,383
(83)

3,408
114

3,555
(350)

7,959
(111)

5,287
(281)

134
(173)

320
(261)

364
(393)

714
(797)

550
(436)

955
(1,305)969(1,080)1,712(1,993)

9,328

39,27017,15951,19824,55688,70045,847

98,648DS
HQ & othersof which other Bus**of which HQ & elim.

Total EADS* Airbus Commercial includes EFW and excludes A400M** BUs: ATR, Sogerma and EADS North America (in 2008: additionally including Socata)

EADS – FY 2009 earnings

Quarterly Order-book Breakdown(cumulative)in € m

Q1

44

H1

9m

FY

2009

2008

2009

2008

2009

2008

2009

2008

Airbus Division

365,412305,557

343,584

308,272

332,035

355,448

339,722357,824

Thereof Airbus Comm.*

345,123

282,742

323,497

286,329

311,674

333,849

320,321337,193

Thereof Airbus Military

21,99923,06821,68023,173

21,69822,996

20,68622,269Eurocopter

14,082

14,461

14,167

14,592

13,52814,494

15,064

13,824Astrium

15,877

12,711

15,597

12,77014,92012,552

14,653

11,035DS
HQ & others

15,954
1,304

18,012721

16,4401,191

17,962582

16,2591,265

17,793389

18,796832

17,032533

2,306(1,002)2,824(2,103)

2,139
(948)

2,877
(2,295)

1,963
(698)

2,871
(2,482)

1,952(1,120)3,169(2,636)412,629

351,462

390,979

354,178

378,007400,676

389,067

400,248of which other Bus**of which HQ & elim.

Total EADS* Airbus Commercial includes EFW and excludes A400M** BUs: ATR, Sogerma and EADS North America (in 2008: additionally including Socata)

EADS – FY 2009 earnings