EADS

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1 - Overview

EADS was created in July 2000 following the merger of Aerospatiale Matra, DaimlerChrysler Aerospace AG ("Dasa") and Construcciones Aeronáuticas SA ("CASA").
Lagardère is a major shareholder in EADS, with a 7.5% stake, and exercises joint control over the company.
EADS' main businesses are divided into four Divisions: Airbus (including Airbus Commercial and Airbus Military), Eurocopter, Astrium and Cassidian (formerly the Defence & Security Division).
With total revenues of €45.8 billion in 2010, EADS is the leading aeronautics, space and defence group in Europe and the second largest in the world. In terms of market share, EADS is one of the world's two leading manufacturers of commercial aircraft, helicopters for the civil and parapublic markets, commercial launch vehicles and missile systems. EADS also has leading positions in military aircraft, satellites and defence electronics. In 2010, 73% of EADS' revenues came from the civil sector and 27% from the defence sector.

2 - Major events in 2010

In 2010, when EADS celebrated its 10^th anniversary, the group's financial results emphasised its major achievements, which were supported by the stronger-than-expected improvement in the macroeconomic and commercial environment.
Order intake totalled €83.1 billion in 2010, boosted by an upturn in commercial aviation. The order backlog of over €448 billion provides a solid foundation for EADS' future deliveries.
Revenues hit a record €45.8 billion in 2010 and profitability was ahead of expectations. At end-2010, the Net Cash position of € 11.9 billion was higher than anticipated, thanks to better cash management and higher order intake.

AIRBUS

In 2010, Airbus delivered a record number of aircraft. In total, 510 commercial aircraft were delivered, 12 more than in 2009.
Airbus Commercial recorded a total of 644 new orders (574 net of cancellations), including 32 orders for the A380 and 78 for the A350 XWB. This brought the order backlog to 3,552 aircraft, equal to more than six years of production at full capacity. The A320neo was launched in the fourth quarter of 2010. This aircraft, which offers a new engine option that cuts fuel consumption by 15%, was a big hit in the market.

Airbus Military delivered 20 light and medium transport aircraft and logged 21 new aircraft orders in 2010.
The A400M programme produced good technical results. By end-June 2011, the programme had clocked up more than 1,800 hours of flight time across 500 test flights. The A400M's "maturity gate" - a key program milestone - was reached in February 2011, paving the way for series production. Civil certification should be achieved in late 2011.
The A330 MRTT (Multi-Role Tanker Transporter) achieved civil and military certification in 2010 and the UK Air Force's MRTT completed its maiden flight in September 2010. Five of these aircraft were flying operationally by the end of 2010, with a further four undergoing conversion. Delivery of the first two A330 MRTTs to the Royal Australian Air Force took place in the first half of 2011.

EUROCOPTER

Eurocopter delivered 527 aircraft in 2010. This included 28 NH90s and 15 Tiger combat helicopters, thereby doubling total deliveries on both programmes. The Division logged new orders for 346 helicopters (51% civil and 49% military), including strategic orders for the Super Puma from the Malaysian and Mexican armed forces, and orders for Ecureuil-series helicopters from customers based in Russia and the United States.
New orders totalled €4.3 billion in 2010, 42% of which were in Support & Services. This supports the group's Vision 2020 strategic plan to increase the proportion of EADS revenues coming from services.
In 2010, the maiden flight and in-flight testing of the X3 technological demonstrator, a high-speed, long range hybrid helicopter, marked a new milestone in Eurocopter's innovation strategy. The second prototype of the EC175, developed in co-operation with Chinese partners, successfully undertook its maiden flight, and in-flight tests were carried out on the CH-53GA, which has been comprehensively modernised by Eurocopter for the German Army.

ASTRIUM

In 2010, Astrium's order intake totalled €6 billion. Excluding exceptional orders - i.e. the 35 Ariane 5 launchers ordered in 2009 - this represents a 43% increase.
In telecommunications satellites, Astrium signed three new contracts including a contract for the construction of the W5A satellite, which is intended to replace the W5 satellite and offer greater capacity. Six Ariane 5 launchers were delivered in 2010 and ten satellites constructed by Astrium were launched. In Defence, Astrium delivered M51 missiles for the French Navy.
During 2010, Astrium acquired Jena-Optronik, a company specializing in sensors and optical space systems, along with a 75.1% stake in the satellite equipment and ground systems integration company ND SatCom.

CASSIDIAN

The Cassidian Division was boosted by growth in the Eurofighter, security and missiles businesses.
In 2010, Cassidian continued its globalisation strategy, joining forces with Odebrecht in Brazil for defence and security technologies, and setting up an engineering centre and joint venture with Larsen & Toubro in India. In the drones business, EADS is continuing to work with customers to assess their technical and financing requirements in relation to the Talarion drone. The successful maiden flight of the EuroHawk and further testing for the Barracuda demonstrator confirmed the group's technical capabilities in this business.
However, Cassidian felt the initial impact of pressure on European defence budgets, as customers deferred their orders and R&D expenses increased. A transformation programme has been initiated to enable Cassidian to adjust to changes in its economic environment, including future growth in the security sector.

Copyrights : Airbus, EADS, EADS Astrium / M. Pikelj, Eurocopter, Airbus Military, EADS Astrium / Ingo Wagner