Airbus Group Reports Strong Nine-Month (9m) 2015 ResultsNine-month financial performance enables the Group to confirm FY guidanceRevenues € 43.0 billion; EBIT* before one-off up eight percent to € 2.8 billion

Earnings per share up 35 percent to € 2.42

Commercial aircraft market robust with book-to-bill above 1Single-aisle aircraft production rate to increase to 60/month in mid-2019

Board of Directors approves € 1 billion share buyback for completion by mid-2016**Amsterdam, 30 October 2015 – Airbus Group SE (stock exchange symbol: AIR) reported strong
nine-month results and confirmed its 2015 guidance.
“We again increased revenues, profitability and cash generation due to a good operationalperformance. We’re on track to deliver on our full year guidance,” said Tom Enders,
Airbus Group Chief Executive Officer. “The healthy commercial aircraft market, robustness ofour backlog and supply chain capability allows us to raise the single-aisle production rate to60 a month in mid-2019. We are strongly focused on programme execution given our key
operational challenges with the A350 and A400M production ramp-ups and A320neo. Based on
operational progress, divestments materialised and the expected cash position this year, theBoard has decided to launch a € 1 billion share buyback which will begin immediately and becompleted by the end of June 2016.”
Group order intake(1) in the first nine months of 2015 rose 42 percent to € 112 billion (9m 2014:€ 79 billion), with the order book (1) value reaching € 967 billion as of 30 September
2015 (year-end 2014: € 858 billion). Airbus received 815 net commercial aircraft orders (9m 2014:791 net orders), including 87 A330 Family aircraft. The full year target of a book-to-bill ratio above 1
is now secured. Airbus Helicopters received 181 net orders (9m 2014: 208 units) after
50 governmental helicopter cancellations. New orders included 38 H175s and 67 H145s.
Order intake by value rose three percent at Airbus Defence and Space, with third quarter bookings
including additional satellites and four A330 MRTTs for South Korea.
Group revenues increased six percent to € 43.0 billion (9m 2014: € 40.5 billion), reflecting thestrengthening U.S. dollar and a favourable mix at Airbus. Revenues at Commercial Aircraft roseeight percent with 446 aircraft(6) delivered (9m 2014: 443 units), including 19 A380s and five

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Subscribe to our RSS feed: airbusgroup.com/RSSA350 XWBs. Despite lower overall deliveries of 237 units (9m 2014: 295 units), Helicopters’revenues rose four percent due mainly to higher government programme and services activity.
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.
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 eight percent
to € 2,804 million (9m 2014: € 2,590 million). Commercial Aircraft’s EBIT* before one-off rose
25 percent to € 2,226 million (9m 2014: € 1,780 million), driven by operational improvement witha strong contribution from the A380 programme. It also reflected some favourable cost phasing,including research & development (R&D) and A350 support costs. Helicopters’ EBIT* before
one-off was € 241 million (9m 2014: € 241 million), with lower deliveries and unfavourable mix
offset by services activity and progress on the transformation plan. Defence and Space’s EBIT*
before one-off increased to € 431 million (9m 2014: € 370 million), driven by good programme
execution and its transformation plan.
Group self-financed R&D expenses decreased to € 2,287 million (9m 2014: € 2,376 million).
The A350 industrial ramp-up is progressing with Finnair becoming the third operator in October.
As the production rate increases, the focus is on supply chain performance, controlling the levelof outstanding work and the convergence of recurring costs to target. This remains challenging.
Several interruptions have been experienced on the A320neo flight test programme with thePratt & Whitney engine. Certification and first deliveries are still targeted in the fourth quarter of2015. The focus is on the delivery of mature aircraft and the industrial ramp -up. Breakeven on
the A380 is on track for 2015. Flight tests for the H160 helicopter are progressing as perschedule for the planned entry-into-service in 2018. Five A400M transport aircraft weredelivered in the first nine months of 2015. The focus remains on A400M programme execution,and addressing the challenges of military capabilities and the industrial ramp-up.
Reported EBIT*(3) rose 14 percent to € 2,946 million (9m 2014: € 2,583 million),with net one-offs totalling a positive € 142 million and comprising:A net charge of € 360 million related to the dollar pre-delivery payment mismatch andbalance sheet revaluation driven by the strong devaluation of the euro versus the dollar
compared to historical rates;
2A € 290 million net charge related to the A400M programme which is unchanged comparedto the first half 2015 results disclosure;A € 748 million net gain from the sale of an 18.75% stake in Dassault Aviation (5) in the firsthalf of 2015;

A net gain of € 44 million mainly linked to divestments in Defence and Space.

Net income(4) increased 36 percent to € 1,900 million (9m 2014: € 1,399 million) while earnings
per share (EPS) rose 35 percent to € 2.42 (9m 2014: € 1.79). The finance result was € -536 million(9m 2014: € -612 million) and included one-offs totalling € -156 million mainly from therevaluation of financial instruments.
Free cash flow before mergers and acquisitions improved to € -1,751 million (9m 2014:€ -2,090 million), despite the ramp-up on programmes and reflected continued tight cash control
and the seasonality of the defence and institutional business. Proceeds of around € 1.7 billion in
the first half of 2015 from the sale of Dassault Aviation shares boosted nine-monthfree cash flow to € -112 million (9m 2014: € -2,120 million). The net cash position at the end of
September 2015 was € 7.8 billion (year-end 2014: € 9.1 billion) after a 2014 dividend payment of€ 945 million (2013: € 587 million). The gross cash position on 30 September 2015 was€ 17.2 billion (year-end 2014: € 16.4 billion).
OutlookAs the basis for its 2015 guidance, Airbus Group expects the world economy and air traffic to growin line with prevailing independent forecasts and assumes no major disruptions.
Airbus deliveries should be slightly higher than in 2014, and the commercial aircraft order bookis again expected to grow.
In 2015, before mergers & acquisitions (M&A), Airbus Group expects an increase in revenues
and targets a slight increase in EBIT* before one-off.
Based on its current view of the industrial ramp-up, Airbus Group targets breakeven free cash flowin 2015 before M&A.
Airbus Group targets its EPS and dividend per share to increase further in 2015.
* Airbus Group uses EBIT pre-goodw ill im pairm ent 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 w ell as impairment charges thereon.

3

** Airbus Group SE has appointed an Investment Services Provider for the implementation of its Share Buyback asauthorised by the Annual General Meeting of 27 May 2015. Under the terms of the Agreement signed on
30 October 2015, the parties agree that the Investment Services Provider w ill sell a certain number ofAirbus Group SE shares, representing a maximum of € 1 billion to Airbus Group SE, w hich undertakes to buy them atmarket price, betw een 2 November 2015 and 30 June 2016, w ith a guarantee that the final price w ill reflect thearithmetic average of daily Volume Weighted Average Price (V WAP) over the execution period less a guaranteed
discount. The price may not exceed the maximum purchase price approved by the Ann ual General Meeting of27 May 2015. All of the shares bought back under the Agreement w ill be cancelled.

Airbus Group
Airbus Group is a global leader in aeronautics, space and related services. In 2014, the Group – comprising Airbus, Airbus
Defence and Space and Airbus Helicopters – generated revenues of € 60.7 billion and employed a w orkforce of around
138,600.

Airbus Group Investor Relations contacts:
Julie KITCHER
tel. +33 5 82 05 53 01

julie.kitcher@airbus.com

Note to editors: Live-Transmission of the Airbus Group Analyst Conference Call on the Internet
You can listen to the Nine-Month 2015 Results Analyst Conference Call today at 10:30 a.m. CET w ith
Chief Financial Officer Harald Wilhelm via the Airbus Group website: www .airbusgroup.com/9M2015. A recording of the callw ill be made available in due course.

4

Airbus Group – Nine-Month (9m) Results 2015

(Amounts in euro)
Airbus Group9m 20159m 2014

ChangeRevenues, in millions

42,96540,497

+6%

7,476

6,917

+8%

4,574

4,022

+14%

2,804

2,590

+8%

2,946

2,583+14%

Research & Development expenses,in millions

2,287

2,376-4%

Net Income (4), in millions

1,900

1,399+36%

Earnings Per Share (EPS) (4)2.42

1.79+35%

Free Cash Flow (FCF), in millions-112-2,120-Free Cash Flow
before M&A, in millions-1,751-2,090-5-2,191-

Order Intake (1), in millions

111,923

78,696+42%

Airbus Group

30 Sept2015

31 Dec2014

ChangeOrder Book (1), in millions

966,870

857,519+13%

thereof defence, in millions

38,23042,240-9%

Net Cash position, in millions

7,798

9,092

-14%

Employees

137,488

138,622-1%

thereof defence, in millions
EBITDA(2), in millions(3)

EBIT before one-offs , in millions
EBIT(3), in millions

Free Cash Flow
before Customer Financing, in millions

For footnotes please refer to page 8.

5

by Division

EBIT (3)

Revenues(Amounts in millions of Euro)

9m
2015

9m
2014

Change

9m
2015

9m
2014

ChangeCommercial Aircraft

31,11928,820

+8%

1,902

1,773

+7%

Helicopters

4,423

4,260

+4%

241

241

0%

Defence and Space

8,383

8,197

+2%

149

370

-60%

Headquarters /Eliminations

-960

-780

-654

199

-Total

42,96540,497

+6%

2,946

2,583

+14%

Order Intake (1)by Division

Commercial Aircraft

9m
2015100,0619m
2014
68,479Helicopters

4,013

Defence and Space
Headquarters /Eliminations
Total(Amounts in millions of Euro)

Order Book (1)+46%

30 Sept
2015914,692

31 Dec2014
803,633

3,281

+22%

11,818

12,227

-3%

8,483

8,227

+3%

41,65743,075-3%-634-1,291--1,297-1,416-111,923

78,696+42%966,870

857,519+13%

ChangeChange+14%

For footnotes please refer to page 8.

6Airbus Group – Third Quarter Results (Q3) 2015
Airbus Group
Revenues, in millions

Q3 2015

Q3 2014

Change14,072

13,297+6%921

821

+12%

717

744

-4%

376

264

+42%

0.48

0.34+41%(3)

EBIT before one-offs , in millions
EBIT(3), in millions

Net Income(4), in millions

Earnings Per Share (EPS)(4)

by Division

EBIT (3)

Revenues(Amounts in millions of Euro)

Q3
2015

Q3
2014

Change

Q3
2015

Q3
2014

ChangeCommercial Aircraft

10,038

9,391

+7%

478

416

+15%

Helicopters

1,473

1,459

+1%

79

91

-13%

Defence and Space

2,852

2,681

+6%

175

147

+19%

Headquarters /Eliminations-291-234--1590-

Total

14,072

13,297+6%717744-4%

Q3 2015 revenues rose six percent compared to the third quarter of 2014, driven mainly by afavourable foreign exchange impact at Commercial Aircraft.
Q3 2015 EBIT* before one -off increased 12 percent, driven by operational improvement at
Commercial Aircraft as well as some favourable cost phasing, including R&D. It was reduced by
the lower Dassault Aviation contribution in the Headquarters/Eliminations line. Q3 reported
EBIT* declined four percent to € 717 million. It includes the negative one-off from foreign exchange
from the dollar pre-delivery payment mismatch and balance sheet revaluation of € -215 million in
Q3. The Q3 2015 net income also included a negative impact from foreign exchange linked to
the revaluation of U.S. dollar liabilities. In Q3 2014 this negative impact was more significant.
For footnotes please refer to page 8.

7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.

5)

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 fordividends to be received and the capital gain from future sales of Dassault Aviation shares .

6)

Comprising 444 aircraft with revenue recognition and two long-range aircraft on operating lease.
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 andunknown risk and uncertainties that could cause actual results, performance or events to differ materially fromthose 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 with out 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 materiallydepending 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 themarket for certain products and services, product performance ri sks, collective bargaining labour disputes,
factors that result in significant and prolonged disruption to air travel worldwide, the outcome of political andlegal 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.

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