In 2007, EADS’ share price tracked the U.S. dollar, which fell 10% against the euro undermining Airbus’ competitiveness and compounding doubts about the Company’s ability to restore profitability. October’s announcement of delays to the A400M programme also weighed on the share price. Neither the year’s buoyant orders nor improvements to the management structure improved sentiment. On 31st December 2007, the share price closed at € 21.83, 16% lower than year end 2006, underperforming the CAC 40 index which gained 1.3%.

Share price evolution as of 31st December 2007 (close price)
  1. (1)
    Weakness in the U.S. dollar leads to share price falls. Investors calculate that further dollar falls are placing pressure on Airbus margins and making it more difficult for the Power8 restructuring programme to restore profitability.
  2. (2)
    The flood of orders announced at the Paris Air Show in June, mainly for Airbus but also Eurocopter and Astrium, spark a short share price rally. The announcement of corporate governance changes and a single management structure reinforces positive sentiment.
  3. (3)
    EADS announces delays to the A400M heavy military transport programme due primarily to slow progress in engine and systems development.
  4. (4)
    Investor sentiment improves a little towards the year end, following record order inflows and evidence that management is taking action to tackle its challenges.
Share price evolution as of 31st December 2007 (close price) (line chart)

Profile

ISIN Code NL0000235190
Number of issued shares as of 31st December 2007: 814,014,473
High in 2007 on Paris Stock Market: € 26.29 on 2nd January
Low in 2007 on Paris Stock Market: € 19.35 on 17th August

 

Further information

 

Shareholder structure as of 31st December 2007 (pie chart)

*

On 9th February 2007, Daimler reached an agreement with a consortium of private and public-sector investors by which it will reduce its shareholding in EADS by 7.5%.

**

On 4th April 2006, Lagardère issued mandatory exchangeable bonds. The EADS shares deliverable at the maturity of the bonds will represent a maximum of 7.5% of the share capital of EADS. Lagardère already delivered 2.5% out of the 7.5% in June 2007.

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