Airbus 2014 Annual Report Download - page 37
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Please find page 37 of the 2014 Airbus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.What about the other businesses?
To start with the Helicopters business: we’ve
seen a slower commercial environment than
anticipated about a year ago, particularly in
North America and in the oil and gas market.
But Airbus Helicopters is adapting. It successful-
ly introduced one new helicopter model and two
major upgrades in 2014. Profitability is stable
despite a higher R&D and a less favourable mix.
I expect Airbus Helicopters will be in a good
competitive position once the market improves
thanks to their transformation plan.
For the Airbus Defence and Space businesses,
the restructuring is making good progress. The
site and headcount reductions are running ac-
cording to plan and should support underlying
profitability. I mentioned before the ongoing di-
vestments and the launcher joint venture, which
will impact the Division’s financials once the
portfolio decisions have been implemented.
But I’m confident that Airbus Defence and
Space will emerge as a stronger, more focused
company.
Finally, a word about the dollar. Will you
be cracking open the champagne if the
euro-dollar rate hits 1.00?
A strong dollar is certainly positive for our Group.
But don’t forget that since we are in a long-
term business, we have a large hedge-book
to provide us with visibility and stability. The
improved dollar trend will mainly come through
in 2018 and beyond. The rule of thumb of
1 cent leading to an EBIT impact of around
€100m still holds true, although the impact will
increase slightly in the outer years as the
business grows and net exposure increases.
So it is indeed an additional potential upside for
our profitability and cash.
GROUP REVENUES BY REGION
16
%
33
%
11
%
32%
8
%
Africa / Central and South America Middle East North America Asia-Pacific Europe
€61 bn
TOTAL
For more detailed information, please refer
to the Financial Statements 2014.
ANNUAL REVIEW 2014
35
02 PILOTING EFFICIENCY