Mercedes 2001 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2001 Mercedes 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.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

Other Activities 41
New projects secure growth and competitiveness.
MTU Aero Engines is steadily expanding its mainte-
nance business in order to participate in the good
growth prospects in that sector. For example, MTU
Maintenance Zhuhai - a 50:50 joint venture between
MTU Aero Engines and China Southern Airlines –
received its business license in April 2001. Starting in
November 2002, it will be able to repair engines close
to the Asian customer base.
The business unit is also investing in new pro-
grams that will strengthen its position as an engine
manufacturer. For example, MTU Aero Engines is par-
ticipating in the GP 7000 engine program for the Air-
bus A380. In 2001, Air France became the first airline
to order GP 7000 engines for the Airbus aircraft it has
ordered. We expect this to be followed by orders from
other airlines. The PW6000 engine developed with
Pratt & Whittney was certified for the Airbus A318 . The
first flight of the Airbus A318 took place on January 15,
2002.
EADS
Successfully meeting market challenges. EADS is the
world’s second largest aerospace and defense company.
Since its establishment in July 2000, it has been
included in DaimlerChrysler's consolidated financial
statements at equity, in proportion to our 33% stake.
Despite a difficult market in 2001, particularly follow-
ing the events of September 11, EADS expects to reach
its revenue and earnings targets in its first full year of
operation. The company made substantial progress
with its two major projects - the Airbus A380 for the
civil aircraft market and the Airbus A400M military
transport aircraft. EADS also entered into numerous
cooperative agreements and partnerships that will result
in sustained improvements in its competitiveness.
Repeated strong growth in revenues, incoming orders
and earnings. EADS’ revenues of €30.8 billion were
27% higher than the pro-forma figure of the prior year
(€24.2 billion). A large part of this growth is explained
by the fact that since the formation of Airbus SAS, BAe
Systems’ share of Airbus revenues is also included,
which was not the case in the prior year. Adjusted for
this effect, revenues rose by 10%. The main factors
behind the rise were the above-average increases in
revenues at Airbus SAS, which delivered a record 325
aircraft (2000: 311), and in the Military Transport
Aircraft and Defence & Civil Systems divisions. Positive
effects also came from higher revenues in the
Aeronautics division and from changes in the value of
the US $. On the other hand, the Space division did not
quite equal the prior year’s figure.
The Eurofighter has two EJ200 jet
engines. MTU is the system leader
for this engine in Germany.
With the new Airbus A380
family, EADS can introduce new
technologies while securing
long-term competitiveness in
the field of large civil aircraft.
positionin a difficult market
Stronger competitive