airbus · pdf filefuture performance and outlook. ... drive overall airbus competitiveness...
Post on 31-Mar-2018
220 Views
Preview:
TRANSCRIPT
Page 2
Global Investor Forum 2012
Safe Harbour StatementDisclaimer
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 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 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 12th April 2012.
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.
Global Investor Forum 2012
Page 3
Content
Serial Programmes Execution
Development Programmes Execution
Improving Financial Performance
Strategic Factors
Page 4
Global Investor Forum 2012
Serial Civil Programmes (1/2)
A320 Family:
Backlog 3,462 aircraft (including 1,579 A320neo)
42 aircraft / month since October, an industry record despite supply chain issues
Cost optimisation programme launched last year will bring full benefits in 2014
Pricing policy securing margins
A330 Family:
Backlog 314 aircraft
9.5 aircraft / month since May, 10 / month next year
242t variant launched for EIS in 2015
Cost optimisation programme launched this year
3840 42
15
20
25
30
35
40
A320 - Production Rate
02468
1012
A330 - Production Rate
Page 5
Global Investor Forum 2012
Serial Civil Programmes (2/2)
A380 production is reaching a serial standard:
Wing rib feet issue is fixed :
Certifications of the repair solution and new wing line fit expected in January 2013Target maintained at 30 deliveries in 2012Temporary decrease in 2013 due to working parties reducing FAL capacityFull aircraft line fit deliveries from January 2014
RC reduced by 40% since 2009 and in line with rank 100 target
Further NRC and RC reduction launched to improve program financials
A380: Total backlog of 165 aircraft
Page 6
Global Investor Forum 2012
Succesful tankers programme:
28 A330-MRTT ordered from 4 customers (Australia, UK, UAE and Saudi Arabia)6 A330-MRTT deliveredOctober 2012, the French Ministry of Defence announced intention to order 14 A330-MRTTPotential market estimate of non-US long range tankers: more than 100 aircraft
Light & Medium aircraft continue to growdespite defense budget cuts:
32 orders so far in 201225 deliveries planned in 2012Total backlog of 37 aircraft
A330-MRTT & F18
CN 235
Tankers and Light & Medium Aircraft
Page 7
Global Investor Forum 2012
Content
Serial Programmes Execution
Development Programmes Execution
Improving Financial Performance
Strategic Factors
Page 8
Global Investor Forum 2012
Hot Weather Campaign performed
MSN001 in final assembly Static test specimen completed
MSN003 Wing in Broughton
A350 XWB in the Making
Page 9
Global Investor Forum 2012
A350 XWB: Achievements
Test aircraft:Static test specimen FAL started in April, achieved in November and now in the test facilityWing drilling issues that delayed MSN1 wing assembly were fixed during this summerMSN1 start of FAL achieved in September: fuselage, wing and tail assembly completed without problem: good maturity of the assembly processFAL opening ceremony held on October 23rd
Next development aircraft progressing well in pre-FAL
Systems and equipments tests:Trent XWB engine 1st flight on A380 on Feb 18th : good performanceSpecific test benches for landing gears, fuel system and cabin now in serviceNose section power-on achieved in July on MSN1Full fuselage power-on achieved in November on MSN1“Aircraft zero” readiness for virtual flight achieved in SeptemberOverall high level of system maturity demonstrated by the tests
Page 10
Global Investor Forum 2012
A350 XWB: Way ForwardKey challenges ahead:
Route to First Flight mid 2013Virtual First Flight with “aircraft zero”Engine certificationStatic tests to enable First FlightGround tests on MSN1 & MSN3
Route to Entry Into Service in H2 2014:Cabin Virtual First Flight with cabin-fitted development aircraft (MSN2)5 test aircraft and related flight test campaignEarly Long Flights and Route Proving flights Complete aircraft certification testsWork closely with Launch Customers to prepare Entry Into Service
Prepare industrial ramp-upStrengthen suppliers capacity
Risk management as a priority:Robust alert and fix process applied in order to ensure maturity at each milestoneCommercial de-risking strategy
Page 11
Global Investor Forum 2012
Customers on board:Cathay Pacific and Qatar Airways have chosen the new version of -1000
Technology readiness ensured:Physical demonstrators have brought the proof of conceptsLower performance challenge due to -900 experience embedded in specifications
On track for 2017 EIS:Suppliers engaged and active participation in the development plateauDedicated organisation in place with over 2,000 peopleDetailed design on track to start early 2013
A350 XWB-1000: Risk Limited Derivative
Page 12
Global Investor Forum 2012
Route to EIS:Engine issues have been fixedRoute proving tests restarted Already 4,000 hours of Flight Tests EASA: Initial Type Certificate in April 2012Full Type Certificate planned in Q1 2013Military configuration for Initial Operational Clearance to be agreed with customers
The programme starts ramping-up:1st A400M delivery to France, scheduled Q2 2013 The 4 aircraft to be delivered in 2013 are in FALProgressive industrial ramp-up up to 2.5 aircraft per month in 2015
Export activities will start in 2013:
174 orders achieved before first flightPotentially ~400 extra sales in the next 30 years
A400M Patrol Before Take Off
A400M MSN007 in FAL
A400M: 4 Deliveries Planned in 2013
Page 13
Global Investor Forum 2012
A320neo: Secure Long Term Profitability
A320neo’s successful launch and Boeing’s “me too” strategy secure our SA long term leadership with very limited risks
Product development is well on track:
Concept phase successfully closed in October
Detailed design phase started and first parts manufactured
GTF engine validation programme started in November
Overall aircraft performance on track
Strong adherence to schedule
Mitigate risks during the transition period with Neo:
Changes limited to adaptation of engine options
Rigid maturity requirements in place (technical, industrial and customer support) to guarantee entry into service, ramp-up and reliability
Full transition over more than 2 years
Pratt & Whitney GTF test engine
Nose cowl
Page 14
Global Investor Forum 2012
Content
Serial Programmes Execution
Development Programmes Execution
Improving Financial Performance
Strategic Factors
Page 15
Global Investor Forum 2012
Support Programmes Execution
Adapt Airbus organisation to its current challenges:
Maintain harmonised processes and ways of working but simplify and empower teams
Plants fully in charge to deliver the series programmes at high rates
Programmes fully in charge of A350 XWB, A400M and A320neo development teams
End-to-end accountability of the procurement team in charge to manage the supply chain (sourcing, contracting, ordering and developing suppliers)
Agility as a mind-set:
Focus teams on their priorities and give them the means to quickly react to unexpected disturbances
Speed-up the execution of decided improvements
Foster entrepreneurial spirit across management
Boost capacity to openly and quickly integrate innovation
Page 16
Global Investor Forum 2012
Secure Operational Margin Increase
Business transformation beyond Power 8+:
Leverage volume increase to further reduce costs on SA & LR
Drive overall Airbus competitiveness
Align and standardise ways of working, whilst reducing complexity in order to generate further savings
Improve supply chain performance
Boost services efficiency and growth
Pricing policy aligned to maximise margins
A380: secure break-even in 2015 even at 30 deliveries per year:
Further RC reduction aligned with break-even objective
Further NRC and fixed cost reduction programme has been launched and will deliver significant savings by 2015, while retaining capability to produce above rate 3
Page 17
Global Investor Forum 2012
Content
Serial Programmes Execution
Development Programmes Execution
Improving Financial Performance
Strategic Factors
Page 18
Global Investor Forum 2012
Strategic Factors (1/2)
Our product policy drives the market:
Anticipate our customers’ needs and meet or exceed their expectations
Sharklets are bringing a significant improvement to the Single Aisle Family
A320neo is 18 months ahead of the competition
A330 more capable 242t variant guarantees significant programme life extension
A350-1000 will outdate the 777
Continuously improve our products by embedding the right technology
Keep ahead of the new competitors entering the market:
Keep investing in innovation and new technologies for the next generation of aircraft
Be ready to offer step changes in economics when the technology is available
Page 19
Global Investor Forum 2012
Strategic Factors (2/2)
Protect against economic downturns and adverse €/$ effect:
Worldwide balanced distribution of the backlog, focused on the fastest growing regions
Globalised supply chain and industrial footprint
Broaden the range of Airbus services portfolio:
Extend and industrialise operations and maintenance solutions proposed to the airlines
Complete the development of an end-to-end air traffic management offer
Deliver material management synergies and growth following Satair acquisition
Grow our training business
Provide high capacity, competitive and integrated turnkey solutions for upgrades & retrofit
Establish Flight Hour Services as a standard after a promising start (already 100 aircraft under contract)
Page 20
Global Investor Forum 2012
9m 2012 2015
Positive Trend to Reach Profitability Target
Key drivers for financial performance:Delivery ramp-up supported by a strong commercial momentumIncrease operating marginsEnsure A380 route to break-evenSecure A350 XWB EIS in 2014 and prepare the ramp-up
Airbus RoS 10%* in 2015
* @1.30 €/$ and before A350
Target2015
top related