Mercedes 2001 Annual Report Download - page 46

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42 Other Activities
Incoming orders increased to € 60.2 billion in 2001
(2000: €49.1 billion). Adjusted for the consolidation
effect of Airbus SAS, incoming orders rose by 5%.
In the first nine months of 2001, mainly due to the
growth in business at Airbus, there was a 32% increase
in earnings before taxes and interest (EBIT) to €1.1 bil-
lion. The company also expects full-year earnings ad-
justed for one-time effects and goodwill amortization to
be significantly higher than the previous year's figure.
Order backlog at record level. EADS’ order backlog
reached a new record level of €183.7 billion for 2001
year-end, which is equivalent to the revenues of more
than six years. Airbus further consolidated its leading
position in the civil-aircraft market with a record
order backlog of 1,575 aircraft. In terms of the number
of units on order, this corresponds to a market share
of 54%. In the defense sector, at the end of December
2001, eight European countries decided to procure 196
military transport aircraft of the type Airbus A400M,
with a total value of about €18 billion.
Partnerships strengthen competitiveness. In July 2001,
Airbus SAS was established with retroactive effect from
January 1, thereby combining into one company all pre-
vious activities of the former Airbus consortium. EADS
owns 80% of the new company, with the remaining 20%
held by BAE Systems.
MBDA, which was established in December 2001,
combines the guided missile activities of EADS, BAE
Systems and Finmeccanica. EADS has a 37.5% stake in
MBDA, which is the world's second largest manufac-
turer of guided missiles and covers all market
segments in the sector.
One of EADS’ most important strategic goals is to
expand its presence in the US market. To this end,
EADS and Northrop Grumman have signed cooperative
agreements for the fast-growing sectors of defense elec-
tronics and the maintenance and servicing of Airbus
fleets in the US. Joint projects with other US partners
are also being examined. EADS generated revenues of
approximately US $4 billion in the US in 2001.
Mitsubishi Motors
Mitsubishi Motors' worldwide presence. Mitsubishi
Motors Corporation (MMC), Japan's fourth-largest auto
maker, designs and produces small cars, full-size pas-
senger cars, SUVs, light and heavy trucks, and buses.
The company has production plants in 13 countries,
including seven assembly and component plants in
Japan. More than 50% of all Mitsubishi vehicles are sold
outside Japan, primarily in Asia, America and Europe.
Further expansion of alliance with MMC. At the begin-
ning of 2001, DaimlerChrysler had a 34% stake in
Mitsubishi Motors Corporation. At that time the field of
cooperation was limited to passenger cars and light
commercial vehicles. However, in June 2001 we
acquired Volvo's 3.3% interest in Mitsubishi Motors,
including all legal rights arising from the previous
cooperation between Mitsubishi Motors and Volvo in
the area of medium and heavy commercial vehicles.
We and Mitsubishi Motors thereby placed our alliance
on a significantly broader base encompassing all ve-
hicle segments. DaimlerChrysler has included its 37.3%
stake in MMC in its consolidated financial statements
at equity.
Turnaround measures cut losses. In the first half of the
2001/2002 financial year (which ends on March 31,
2002), sales of Mitsubishi Motors vehicles totaled
658,000 units, lower than the 675,000 units recorded
during the same period of the previous financial
year. This decline was due to the fact that although
sales remained stable in North America, there was a
noticeable drop in sales in the Japanese, European and
Asian markets.
Revenues according to Japanese GAAP totaled
1,533 billion yen. (€14.2 billion), falling slightly short
of the previous year's figure of 1,543 billion yen. As ex-
pected, MMC recorded an operating loss in the first half
of the 2001/02 financial year of 13.1 billion yen (€121
million). That loss was 44% less than the figure for the
first six months of 2000/01 (23.2 billion yen). This
significant improvement was largely a result of the
turnaround measures introduced in February 2001.
The loss before one-time effects and taxes totaled
27.4 billion yen (€253 million), representing a 7%
improvement on the half-year results of 2000/01
(a loss of 29.5 billion yen).