Airbus 2015 Annual Report Download - page 101

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 69 l
Management’sDiscussion andAnalysisofFinancial Condition andResultsofOperations
Registration Document 2015
2.
2.1 Operating and Financial Review
Consolidated revenues of Airbus Helicopters increased by
4.0%, from € 6.5billion for 2014 to € 6.8billion in 2015 mainly
reflecting a higher level of services activities, despite lower
overall deliveries of 395units (2014: 471units).
Consolidated revenues at Airbus Helicopters increased by
3.6%, from € 6.3billion for 2013 to € 6.5billion for 2014 mainly
driven by government programmes including the ramp‑up in
NH90 activity. Helicopter deliveries totalled 471units (FY 2013:
497units), including the successful entry‑into‑service (EIS) of
the H175 in the fourth quarter following the EIS of the H145 and
H135 earlier in the year.
Airbus’ consolidated revenues increased by 8.5%, from
€ 42.3billion for 2014 to € 45.9billion for 2015. This was due
to higher deliveries of 635aircraft (compared to 629 deliveries
in 2014) including 14 A350XWBs and the strengthening
USdollar.
Airbus’ consolidated revenues increased by 7.1%, from
€ 39.5billion for 2013 to € 42.3billion for 2014, driven by the
overall increase in deliveries to a record 629 aircraft (626
deliveries in 2013) and a more favourable delivery mix including
30 A380s compared to 25 in 2013.
Airbus Helicopters
Set forth below is a breakdown of deliveries of helicopters by product type for the past three years.
Number of aircraft Year ended
31December 2015
Year ended
31December 2014 Year ended 31December 2013
Tiger 16 12 11
Light 178 226 269
Medium 124 132 136
Heavy 77 101 81
of which NH90 35 53 44
Total 395 471 497
Airbus Defence andSpace
Set forth below is a breakdown of deliveries of Airbus Defence andSpace by product type for the past three years.
Number of aircraft Year ended
31December 2015
Year ended
31December 2014 Year ended 31December 2013
A400M 11 8 2
A330 MRTT (Tanker) 45 7
Light & Medium aircraft 19 19 22
Telecom satellites 55 3
Total 39 37 34
Airbus Defence andSpace’s consolidated revenues were
broadly stable at € 13.1billion (€ 13.0billion for 2014), despite
the de‑consolidation of launcher revenues with the creation of
the Airbus Safran Launchers Joint Venture’s first phase. A total
of 11 A400M military transport aircraft were delivered in 2015.
Airbus Defence andSpace’s consolidated revenues were
broadly stable with a slight decrease by ‑0.7%, from
€ 13.1billion for 2013 to € 13.0billion for 2014. Revenues were
driven by military aircraft with eight A400M deliveries in total to
four nations and by space systems with six Ariane5 launches
during the year.
2.1.4.2 Consolidated Cost of Sales
Consolidated cost of sales increased by 7.4% from € 51.8billion
for 2014 to € 55.6billion for 2015. The increase was primarily
due to business growth at Airbus and negative foreign exchange
revaluation impacts from pre‑delivery payments. This was partly
offset by a lower net charge related to A400M programme of
€ 290million (in 2014: € 551million). Consolidated cost of sales
also includes the amortisation of capitalised development costs
pursuant to IAS38, which amounted to € ‑202million in 2015
compared to € ‑137million in 2014. The gross margin decreased
from 14.7% in 2014 to 13.7% in 2015.
Consolidated cost of sales increased by 4.4%, from € 49.6billion
for 2013 to € 51.8billion for 2014. The increase was primarily due
to strong delivery patterns, costs related to business growth
at Airbus, increased A350XWB support costs and to a net
Financial Statements 2015
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Annual Report 2015 Financial Statements 2015
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