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Revenues grew by 15% to €39.4 billion in 2006 (2005: €34.2 billion). This strong increase was supported by all Divisions, in particular by Airbus along with Eurocopter and Astrium.
In 2006, EBIT was €399 million (2005: €2,852 million). EBIT was substantially burdened by the impact of A380 delays, A350 related charges, exchange rate impacts, high research and development expenses and by losses at EADS Sogerma.
Net income of €99 million (2005: €1,676 million), or €0.12 per share (2005: €2.11) mainly mirrors the Group’s EBIT development.
Free cash flow including customer financing remained high at €2.0 billion (2005: €2.4 billion). The increased sell-down of customer financing assets offset an unfavourable working capital development.
EADS' net cash position stayed high at €4.2 billion at year-end 2006 (2005: €5.5 billion). This was impacted by the acquisition of BAE Systems’ 20% stake in Airbus (€2.75 billion) and dividend payments. Adjusted for the one-off payment for the Airbus stake it has again improved.
For the first time, the combined revenues from EADS defence businesses hit €10.0 billion (2005: €7.7 billion), driven by higher revenues in the Military Transport Aircraft and Defence & Security Divisions, at Eurocopter and at Astrium.
The EADS order book stood at €262.8 billion at the end of 2006 (year-end 2005: €253.2 billion). This order book increase was achieved despite a €17 billion impact due to revaluation at a less favourable €/USD exchange rate.
Defence activities continued to grow. The order book stood at €52.9 billion at year-end (compared with €52.4 billion at year-end 2005). Significant breakthroughs were made, with a helicopter order from the US Army and a more diversified product portfolio.
In 2006, EADS continued to spend more than its peers on research and development, dedicating over 6% of revenues to investment in innovation. EADS management is convinced this is key to maintaining technological leadership and a competitive position.
During 2006, EADS increased its workforce by 3% to a total of 116,805 employees. The main drivers for this further increase were Astrium and Eurocopter.
