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CONTINUING SUCCESS
44
EADS ANNUAL REVIEW 2010
Higher activity in services and governmental programmes
led to an increase in Eurocopter’s revenues in 2010,
despite a decrease in civil deliveries due to the slow
recovery of the commercial market. Eurocopter continued
to invest in its product range, and to expand its global
footprint to prepare for future markets. The SHAPE
improvement programme started to deliver results in the
form of efficiency savings.
Revenues increased to €4.8 billion (€4.6 billion in 2009),
reflecting a favorable mix from higher support and
governmental revenues. Deliveries included 28NH90
multi-role military helicopters and 15 Tiger attack
helicopters – twice as many as in 2009 for both aircraft
– as well as the first three of 50 EC725 for the Brazilian
armed forces. Total helicopter deliveries amounted to
527 (558 in 2009).
Deliveries of new production helicopters accounted
for 53% of Eurocopter’s 2010 revenues, while support
and services provided 36% of the total. The remaining 11%
was generated by development and other activities.
EBIT* declined to €183 million (€263 million in 2009)
weighed down by a charge on the NH90 programme,
a restructuring charge and higher product investment.
Stable orders
New net orders were stable at 346 (344 in 2009) evenly
balanced between civil (51%) and military (49%). Bookings
included Super Puma contracts for Malaysia and Mexico,
as well as additional LUH orders for the United States.
The Kazakhstan Ministry of Defence signed a
memorandum of understanding to purchase 45 EC145
medium-sized helicopters over six years. The year-end
order book fell slightly to €14.6 billion (€15.1 billion in 2009)
for 1,122helicopters.
Eurocopter achieved higher revenues as services and
military activities compensated for lower deliveries
of commercial aircraft. Eurocopter made significant
progress in its innovation and efficiency drive, preparing
the way for an expected market recovery from 2012.
(€m)
Revenues
Self-financed R&D
EBIT*
Order intake
Order book
2010 2009 Variation
4,830 4,570 +6%
189 164 +15%
183 263 -30%
4,316 5,810 -26%
14,550 15,064 -3%
Revenues by markets (in % of external revenues)
54% Civil
46% Defence