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Financial Statements 2011 9 mm EUROPEAN AERONAUTIC EADS COMPANY DEFENCE AND N.V. SPACE FINANCIAL STATEMENTS 2011 www.eads.com European Aeronautic Defence and Space Company EADS N.V. Mendelweg 30 2333 CS Leiden The Netherlands In France 37, boulevard de Montmorency 75781 Paris cedex 16 – France In Germany 81663 Munich – Germany Financial State In Spain Avenida de Aragón 404 28022 Madrid – Spain ments 2011 EADS_UK_2011_Financial_S_A4_couv_9mm.indd 1,3 27/04/12 17:04 9 mm Photographs © by EADS: Airbus/Fixion - Astrium - Eurocopter/Deulin - Eurofighter/G.Lee All rights reserved EADS_UK_2011_Financial_S_A4_couv_9mm.indd 4,6 27/04/12 17:04 FINANCIAL STATEMENTS 2011 2 I EADS FINANCIALREGISTRATION STATEMENTS DOCUMENT 2011 2011 EADS FINANCIAL STATEMENTS 2011 53 1 EADS N.V. — Consolidated Financial Statements (IFRS) 5 2 Notes to the Consolidated Financial Statements (IFRS) 13 3 Auditors’ report on the Consolidated Financial Statements (IFRS) 103 4 Company Financial Statements 107 5 Notes to the Company Financial Statements 111 EADS FINANCIAL STATEMENTS 2011 I 3 1 2 3 4 5 4 Back to Contents 1 4 I EADS FINANCIALREGISTRATION STATEMENTS DOCUMENT 2011 2011 1 2 3 4 5 4 Back to Contents 1 EADS N.V. — Consolidated Financial Statements (IFRS) EADS N.V. — Consolidated Income Statements (IFRS) for the years ended 31 December 2011, 2010 and 2009 6 EADS N.V. — Consolidated Statements of Comprehensive Income (IFRS) for the years ended 31 December 2011, 2010 and 2009 7 EADS N.V. — Consolidated Statements of Financial Position (IFRS) at 31 December 2011 and 2010 8 EADS N.V. — Consolidated Statements of Cash Flows (IFRS) for the years ended 31 December 2011, 2010 and 2009 9 EADS N.V. — Consolidated Statements of Changes in Equity (IFRS) for the years ended 31 December 2011, 2010 and 2009 10 EADS FINANCIAL STATEMENTS 2011 I 5 EADS N.V. — CONSOLIDATED FINANCIAL STATEMENTS (IFRS) 1 2 3 4 5 4 Back to Contents EADS N.V. — Consolidated Income Statements (IFRS) for the years ended 31 December 2011, 2010 and 2009 (In € million) Note 2011 2010 2009 Revenues 5, 6 49,128 45,752 42,822 Cost of sales 7 (42,285) (39,528) (38,383) Gross margin 6,843 6,224 4,439 Selling expenses (981) (1,024) (924) Administrative expenses (1,427) (1,288) (1,272) Research and development expenses 8 (3,152) (2,939) (2,825) Other income 9 359 171 170 Other expenses 10 (221) (102) (102) Share of profit from associates accounted for under the equity method 11 164 127 115 Other income from investments 11 28 18 19 Profit (loss) before finance costs and income taxes 5 1,613 1,187 (380) Interest income 377 316 356 Interest expense (364) (415) (503) Other financial result (233) (272) (445) Total finance costs 12 (220) (371) (592) Income taxes 13 (356) (244) 220 Profit (loss) for the period 1,037 572 (752) Attributable to: Equity owners of the parent (Net income (loss)) 1,033 553 (763) Non-controlling interests 4 19 11 Earnings per share € €€ Basic 38 1.27 0.68 (0.94) Diluted 38 1.27 0.68 (0.94) The accompanying notes are an integral part of these Consolidated Financial Statements (IFRS). 6 I EADS FINANCIAL STATEMENTS 2011 EADS N.V. — CONSOLIDATED FINANCIAL STATEMENTS (IFRS) 1 2 3 4 5 4 Back to Contents EADS N.V. — Consolidated Statements of Comprehensive Income (IFRS) for the years ended 31 December 2011, 2010 and 2009 (In € million) 2011 2010 2009 Profit (loss) for the period 1,037 572 (752) Currency translation adjustments for foreign operations (25) 119 (279) Effective portion of changes in fair value of cash flow hedges (365) (2,983) 2,948 1 Net change in fair value of cash flow hedges transferred to profit or loss (171) (201) (1,456) Net change in fair value of available-for-sale financial assets (20) 12 136 Actuarial gains (losses) on defined benefit plans (747) (127) (594) Unrealized gains (losses) from investments accounted for using the equity method 129 (161) 33 Tax on income and expense recognized directly in equity 331 1,096 (381) Other comprehensive income, net of tax (868) (2,245) 407 Total comprehensive income of the period 169 (1,673) (345) Attributable to: Equity owners of the parent 163 (1,679) (354) Non-controlling interests 6 69 The accompanying notes are an integral part of these Consolidated Financial Statements (IFRS). EADS FINANCIAL STATEMENTS 2011 I 7 EADS N.V. — CONSOLIDATED FINANCIAL STATEMENTS (IFRS) 1 2 3 4 5 4 Back to Contents EADS N.V. — Consolidated Statements of Financial Position (IFRS) at 31 December 2011 and 2010 (In € million) Assets Note 2011 2010 Non-current assets Intangible assets 14 12,745 11,299 Property, plant and equipment 15 14,159 13,427 Investment property 16 74 77 Investments in associates accounted for under the equity method 17 2,677 2,451 Other investments and other long-term financial assets 17 2,378 2,386 Non-current other financial assets 20 631 871 Non-current other assets 21 1,253 1,104 Deferred tax assets 13 4,309 4,250 Non-current securities 22 7, 229 5,332 45,455 41,197 Current assets Inventories 18 22,563 20,862 Trade receivables 19 6,399 6,632 Current portion of other long-term financial assets 17 172 111 Current other financial assets 20 1,739 1,575 Current other assets 21 2,253 1,712 Current tax assets 339 234 Current securities 22 4,272 5,834 Cash and cash equivalents 31 5,284 5,030 43,021 41,990 Total assets 88,476 83,187 Equity and liabilities Equity attributable to equity owners of the parent Capital stock 820 816 Share premium 7,519 7,6 4 5 Retained earnings 471 46 Accumulated other comprehensive income 153 446 Treasury shares (113) (112) 8,850 8,841 Non-controlling interests 20 95 Total equity 23 8,870 8,936 Non-current liabilities Non-current provisions 25 9,125 8,213 Long-term financing liabilities 26 3,628 2,870 Non-current other financial liabilities 27 8,193 8,624 Non-current other liabilities 28 9,814 9,264 Deferred tax liabilities 13 1,050 1,195 Non-current deferred income 30 290 315 32,100 30,481 Current liabilities Current provisions 25 5,860 5,766 Short-term financing liabilities 26 1,476 1,408 Trade liabilities 29 9,630 8,546 Current other financial liabilities 27 1,687 1,234 Current other liabilities 28 27,670 25,772 Current tax liabilities 308 254 Current deferred income 30 875 790 47,506 43,770 Total liabilities 79,606 74,251 Total equity and liabilities 88,476 83,187 The accompanying notes are an integral part of these Consolidated Financial Statements (IFRS). 8 I EADS FINANCIAL STATEMENTS 2011 EADS N.V. — CONSOLIDATED FINANCIAL STATEMENTS (IFRS) 1 2 3 4 5 4 Back to Contents EADS N.V. — Consolidated Statements of Cash Flows (IFRS) for the years ended 31 December 2011, 2010 and 2009 (In € million) Note 2011 2010 2009 Profit (loss) for the period attributable to equity owners of the parent (Net income (loss)) 1,033 553 (763) Profit for the period attributable to non-controlling interests 4 19 11 Adjustments to reconcile profit (loss) for the period to cash 1 provided by operating activities: Interest income (377) (316) (356) Interest expense 364 415 503 Interest received 417 332 382 Interest paid (307) (278) (331) Income tax expense (income) 356 244 (220) Income taxes (paid) received (100) (140) 4 Depreciation and amortization 1,884 1,582 1,826 Valuation adjustments (408) (366) (254) Results on disposals of non-current assets (29) (75) (31) Results of companies accounted for by the equity method (164) (127) (115) Change in current and non-current provisions (1) 230 (219) 1,594 Change in other operating assets and liabilities: 1,386 2,819 15 • Inventories (1,640) 705 (1,961) • Trade receivables 447 (345) (478) • Trade liabilities 806 (40) 192 • Advance payments received 1,965 1,698 2,925 • Other assets and liabilities (327) 738 (257) • Customer financing assets 246 169 (306) • Customer financing liabilities (111) (106) (100) Cash provided by operating activities 4,289 4,443 2,265 Investments: • Purchases of intangible assets, Property, plant and equipment (2,197) (2,250) (1,957) Proceeds from disposals of intangible assets, Property, • plant and equipment 79 45 75 Acquisitions of subsidiaries, joint ventures, businesses • and non-controlling interests (net of cash) 31 (1,535) (38) (21) • Proceeds from disposals of subsidiaries (net of cash) 31 18 12 13 Payments for investments in associates, other investments • and other long-term financial assets (312) (190) (136) Proceeds from disposals of associates, other investments • and other long-term financial assets 77 91 43 • Dividends paid by companies valued at equity 50 41 27 Disposals of non-current assets / disposal groups classified as held for sale and liabilities directly associated with non- current assets classified as held for sale 0 0103 Change in securities 22 (378) (3,147) (821) Cash (used for) investing activities (4,198) (5,436) (2,674) Increase in financing liabilities 813 99 1,114 Repayment of financing liabilities (399) (1,160) (208) Cash distribution to EADS N.V. shareholders (178) 0(162) Dividends paid to non-controlling interests (5) (7) (4) Changes in capital and non-controlling interests (65) (48) 17 Change in treasury shares (1) (3) (5) Cash provided by (used for) financing activities 165 (1,119) 752 Effect of foreign exchange rate changes and other valuation adjustments on cash and cash equivalents (2) 104 (50) Net increase (decrease) in cash and cash equivalents 254 (2,008) 293 Cash and cash equivalents at beginning of period 5,030 7,038 6,745 Cash and cash equivalents at end of period 5,284 5,030 7,038 (1) In 2011, “contribution to plan assets for pensions” is shown in “change in current and non-current provisions” within cash provided by operating activities.
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