DOCSLIB.ORG

MTU Annual Report 2010 and Also Permanently Available to Shareholders on the MTU Website At

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

A n n u A l report 2010 CE o n T n T S MAGAZI n e 2 0 1 0 United by excellence » Magazine insert at page 4 FcAI n A n I l report 2010 To our shareholders 6 Corporate Governance 18 Group management report 46 Consolidated Financial Statements 104 Additional information 220 » Detailed table of contents: page 3 SCTEDE l E C o n S o l i D ATED F i n A n C i A l i n F o r M AT i o n A n D k E y F i G U r E S Selected consolidated financial information and key figures at a glance in € million (unless otherwise specified) Change 2010-2009 2010 2009 Revenues and earnings r evenues 96.6 3.7 % 2,707.4 2,610.8 attributable to the commercial engine business1) 123.9 11.8 % 1,177.6 1,053.7 attributable to the military engine business1) -46.1 -8.7 % 485.9 532.0 attributable to the commercial maintenance business1) 16.4 1.6 % 1,074.0 1,057.6 Gross profit 64.3 14.0 % 522.9 458.6 Earnings before interest and tax (EBiT) 21.1 8.5 % 268.0 246.9 Earnings after tax 1.2 0.9 % 142.2 141.0 Earnings (adjusted) Earnings before interest and tax (EBiT adjusted) 19.0 6.5 % 311.3 292.3 EBiT margin (adjusted) 11.5 11.2 Balance sheet Total assets 277.0 8.8 % 3,426.1 3,149.1 Equity 88.6 12.1 % 819.3 730.7 Equity ratio in % 23.9 23.2 net financial debt -86.2 -60.5 % 56.2 142.4 Cash flow Cash flow from operating activities -1.4 -0.6 % 251.3 252.7 Cash flow from investing activities -40.7 -30.7 % -173.2 -132.5 Free cash flow 24.6 20.5 % 144.8 120.2 Cash flow from financing activities -21.7 -31.5 % -90.6 -68.9 Number of employees at year-end Commercial and military engine business (oEM) 80 1.6 % 4,965 4,885 Commercial maintenance business (MRO) 162 5.8 % 2,942 2,780 Share data Earnings per share in € Undiluted earnings per share 0.02 0.7 % 2.91 2.89 Diluted earnings per share 0.03 1.1 % 2.83 2.80 Dividend per share in €2) 0.17 18.3 % 1.10 0.93 Dividend yield in % 2.2 2.4 Total dividend2) 8.1 17.8 % 53.6 45.5 outstanding common stock at Dec. 31 (million shares) -0.1 -0.2 % 48.8 48.9 1) Before consolidation. 2) Proposal to the Annual General Meeting 2010 / previous year: resolution by the Annual General Meeting for the financial year. HiGH-FlyinG PArTnErS Aircraft are the only means of transportation truly capable of connecting the entire world. They bridge vast distances to shrink the size of continents, and help to draw people ever closer to one another. Tomorrow’s aircraft need engines that not only meet the aviation industry’s stringent safety standards, but are even better than those in use today – namely cleaner, quieter and more fuel-effi cient. with its innovative technologies, MTU Aero Engines has been working for decades to make fl ying safer, and aims to continue to do so in future. we are not alone in this quest for excellence, because the engines of the future can only be developed and built if all industry players unite their efforts in global partnerships that transcend national borders. MTU, Germany’s leading aero engine manufacturer, has fi rmly established its name as an indispensable partner in the aviation industry. its high-tech products, processes and services have repeatedly set new standards in the commercial and military aviation markets. The company cooperates not only with the major engine manufacturers but also with leading scientists and research institutes, and with its customers and suppliers throughout the world. This fi nely meshed network of alliances is based on mutual trust and partnership agreements that have been built up over many decades. k E y in D i C ATo r S r E v i E w E D o v E r 5 y E A r S Order backlog and order value by segments in € million (before consolidation) 2006 3,218.4 3,804.4 2007 3,216.8 5,139.6 2008 3,884.5 5,361.2 2009 oEM 3,965.1 4,878.0 MRO 2010 4,331.5 5,367.6 Revenues by segments in € million (before consolidation) 2006 1,483.1 954.7 2007 1,599.5 1,004.7 2008 1,642.9 1,113.0 2009 oEM 1,585.7 1,057.6 MRO 20100 2000 4000 6000 8000 10000 1,663.5 1,074.0 EBIT adjusted by segment in € million (before consolidation) 2006 164.1 76.5 2007 251.0 62.3 2006 2008 3.218,4 3.804,4 279.9 54.6 2007 3.216,8 5.139,6 2009 oEM 229.2 65.3 2008 3.884,5 5.084,4 MRO 20100 500 1000 1500 2000 2500 3000 9.965,1 4.878,0229.6 80.3 2009 4.331,5 5.367,6 Earnings2010 after tax (EAT) in € million 2006 89.1 2007 154.1 2006 2008 1.483,1 954,7 179.7 2007 1.559,5 1.004,7 2009 141.0 2008 1.642,9 1.113,0 20100 50 100 150 200 250 300 350 1,585,7 1.057,6 142.2 2009 1.663,5 1.074,0 2 The oEM segment (original Equipment Manufacturing) covers new commercial engines, including spare parts, and the whole of the military business.2010 The MRO segment (Maintenance, repair and overhaul) comprises all commercial maintenance activities. 2006 2007 02008 50 100 150 200 2009 2010 2006 2007 2008 2009 2010 TBoA l E F C o n T E n T S MAGAZI n e 2 0 1 0 United by excellence » Magazine insert at page 4 FcAI n A n I l report 2010 To our shareholders 6 letter to the shareholders 8 The Board of Management 12 The MTU share 14 Corporate Governance 18 Corporate governance statement and corporate governance report 20 Declaration of conformity 20 Management Compensation report 25 report of the Supervisory Board 40 The Supervisory Board 44 Group management report 46 The enterprise MTU 48 Economic environment 60 Financial situation 64 Subsequent events 81 Forecasts 82 risk report 87 other disclosures 98 Consolidated Financial Statements 104 Consolidated income Statement 106 Consolidated Statement of Comprehensive income 107 Consolidated Balance Sheet 108 Consolidated Statement of Changes in Equity 110 Consolidated Cash Flow Statement 111 Segment reporting by operating segment 112 notes to the Consolidated Financial Statements 117 Additional information 220 Glossary of engine terms 222 overview of engines 224 index 225 Financial calendar 226 Photo credits 226 Contact 227 3 Egon Behle, Chief Executive officer of MTU Aero Engines » Tomorrow’s aircraft need new engines that will make flying safer and cleaner. All industry players must work together to shape the future of aviation: we will only succeed if we are united behind this goal. MTU has been an indispensable cooperation partner for many decades. « MAGAZinE 2010 Partnerships with Partnerships with Partnerships Partnerships with Partnerships engine manufacturers the armed forces with airlines universities and with suppliers » Page M 2 » Page M 8 » Page M 14 research institutes » Page M 30 » Page M 24 TBoA l E F C o n T E n T S M 2 Partnerships with engine manufacturers M 4 An established global player M 7 The big three M 8 Partnerships with the armed forces M 10 ‘Firmly focused on mission requirements’ M 13 A winning formation M 14 Partnerships with airlines M 16 When customers become partners M 20 Successful subsidiaries M 21 A strong partnership for engines Cooperation is a cornerstone of MTU’s business philosophy. The company has partnered the major industry players for decades. This approach unites M 24 Partnerships with universities everyone in the same quest for excellence. » Page M 2 and research institutes M 26 Pooled expertise M 28 ‘Close collaboration’ M 30 Partnerships with suppliers M 32 A strategic partner M 34 MTU Supplier Award Armed forces the world over – foremost among them Germany’s Bundeswehr – place their trust in MTU’s expertise. The rB199 Tornado engine is one of the star products in the portfolio. » Page M 8 Airlines help to make the world a smaller place. MTU gives international fleet operators additional thrust in the right direction. Joint ventures facilitate collaboration. » Page M 14 M 1 E D i T o r i A l Dear readers, Since the birth of motorized flight over 100 years ago, aviation has grown at an unstoppable pace. Today’s passenger aircraft fly to every continent, taking people to the farthest corners of the globe and making the world a much smaller place – flight knows no frontiers. The same is true of the aircraft engine industry, where MTU Aero Engines has forged and maintains partnerships that span the globe. Egon Behle For decades, Germany’s leading engine manufacturer has been making its Chief Executive offi cer MTU Aero Engines mark in the skies with the power, efficiency and safety of its products, again and again setting new standards with its innovations. To make sure this continues to be the case, all the players in the industry will have to pull together and cooperate.
Recommended publications
  • Robust Gas Turbine and Airframe System Design in Light of Uncertain

    Robust Gas Turbine and Airframe System Design in Light of Uncertain

    Robust Gas Turbine and Airframe System Design in Light of Uncertain Fuel and CO2 Prices Stephan Langmaak1, James Scanlan2, and András Sóbester3 University of Southampton, Southampton, SO16 7QF, United Kingdom This paper presents a study that numerically investigated which cruise speed the next generation of short-haul aircraft with 150 seats should y at and whether a con- ventional two- or three-shaft turbofan, a geared turbofan, a turboprop, or an open rotor should be employed in order to make the aircraft's direct operating cost robust to uncertain fuel and carbon (CO2) prices in the Year 2030, taking the aircraft pro- ductivity, the passenger value of time, and the modal shift into account. To answer this question, an optimization loop was set up in MATLAB consisting of nine modules covering gas turbine and airframe design and performance, ight and aircraft eet sim- ulation, operating cost, and optimization. If the passenger value of time is included, the most robust aircraft design is powered by geared turbofan engines and cruises at Mach 0.80. If the value of time is ignored, however, then a turboprop aircraft ying at Mach 0.70 is the optimum solution. This demonstrates that the most fuel-ecient option, the open rotor, is not automatically the most cost-ecient solution because of the relatively high engine and airframe costs. 1 Research Engineer, Computational Engineering and Design 2 Professor of Aerospace Design, Computational Engineering and Design, AIAA member 3 Associate Professor in Aircraft Engineering, Computational Engineering and Design, AIAA member 1 I. Introduction A. Background IT takes around 5 years to develop a gas turbine engine, which then usually remains in pro- duction for more than two decades [1, 2].
  • Aerospace Engine Data

    Aerospace Engine Data

    AEROSPACE ENGINE DATA Data for some concrete aerospace engines and their craft ................................................................................. 1 Data on rocket-engine types and comparison with large turbofans ................................................................... 1 Data on some large airliner engines ................................................................................................................... 2 Data on other aircraft engines and manufacturers .......................................................................................... 3 In this Appendix common to Aircraft propulsion and Space propulsion, data for thrust, weight, and specific fuel consumption, are presented for some different types of engines (Table 1), with some values of specific impulse and exit speed (Table 2), a plot of Mach number and specific impulse characteristic of different engine types (Fig. 1), and detailed characteristics of some modern turbofan engines, used in large airplanes (Table 3). DATA FOR SOME CONCRETE AEROSPACE ENGINES AND THEIR CRAFT Table 1. Thrust to weight ratio (F/W), for engines and their crafts, at take-off*, specific fuel consumption (TSFC), and initial and final mass of craft (intermediate values appear in [kN] when forces, and in tonnes [t] when masses). Engine Engine TSFC Whole craft Whole craft Whole craft mass, type thrust/weight (g/s)/kN type thrust/weight mini/mfin Trent 900 350/63=5.5 15.5 A380 4×350/5600=0.25 560/330=1.8 cruise 90/63=1.4 cruise 4×90/5000=0.1 CFM56-5A 110/23=4.8 16
  • Rolls-Royce / Itp Regulation

    Rolls-Royce / Itp Regulation

    EUROPEAN COMMISSION DG Competition Case M.8242 - ROLLS-ROYCE / ITP Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) in conjunction with Art 6(2) Date: 19/04/2017 In electronic form on the EUR-Lex website under document number 32017M8242 EUROPEAN COMMISSION Brussels, 19.04.2017 C(2017) 2613 final In the published version of this decision, some information has been omitted pursuant to Article PUBLIC VERSION 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general description. To the notifying party: Subject: Case M.8242 – Rolls-Royce / ITP Commission decision pursuant to Article 6(1)(b) in conjunction with Article 6(2) of Council Regulation No 139/20041 and Article 57 of the Agreement on the European Economic Area2 Dear Sir or Madam, (1) On 24 February 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking Rolls-Royce Holdings plc ("Rolls-Royce", United Kingdom) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of the undertaking Industria de Turbo Propulsores SA ("ITP", Spain) by way of a purchase of shares (the "Transaction").3 Rolls-Royce is designated hereinafter as the "Notifying Party", and Rolls-Royce and ITP are together referred to as the "Parties". 1 OJ L 24, 29.1.2004, p.
  • SP's Aviation June 2011

    SP's Aviation June 2011

    SP’s AN SP GUIDE PUBLICATION ED BUYER ONLY) ED BUYER AS -B A NDI I News Flies. We Gather Intelligence. Every Month. From India. 75.00 ( ` Aviationwww.spsaviation.net JUNE • 2011 ENGINE POWERPAGE 18 Regional Aviation FBO Services in India Interview with CAS No Slowdown in Indo-US Relationship LENG/2008/24199 Interview: Pratt & Whitney EBACE 2011 RNI NUMBER: DELENG/2008/24199 DE Show Report Our jets aren’t built tO airline standards. FOr which Our custOmers thank us daily. some manufacturers tout the merits of building business jets to airline standards. we build to an even higher standard: our own. consider the citation mustang. its airframe service life is rated at 37,500 cycles, exceeding that of competing airframes built to “airline standards.” in fact, it’s equivalent to 140 years of typical use. excessive? no. just one of the many ways we go beyond what’s required to do what’s expected of the world’s leading maker of business aircraft. CALL US TODAY. DEMO A CITATION MUSTANG TOMORROW. 000-800-100-3829 | WWW.AvIATOR.CESSNA.COM The Citation MUSTANG Cessna102804 Mustang Airline SP Av.indd 1 12/22/10 12:57 PM BAILEY LAUERMAN Cessna Cessna102804 Mustang Airline SP Av Cessna102804 Pub: SP’s Aviation Color: 4-color Size: Trim 210mm x 267mm, Bleed 277mm x 220mm SP’s AN SP GUIDE PUBLICATION TABLE of CONTENTS News Flies. We Gather Intelligence. Every Month. From India. AviationIssue 6 • 2011 Dassault Rafale along with EurofighterT yphoon were found 25 Indo-US Relationship compliant with the IAF requirements of a medium multi-role No Slowdown
  • Livre 1.Indb

    Livre 1.Indb

    European Aeronautic Defence and Space Company EADS N.V. Registration Document 2010 European Aeronautic Defence and Space Company EADS N.V. (the “Company” or “EADS” and together with its subsidiaries, the “Group”) is a Dutch company, which is listed in France, Germany and Spain. The applicable regulations with respect to public information and protection of investors, as well as the commitments made by the Company to securities and market authorities, are described in this registration document (the “Registration Document”). In addition to historical information, this Registration Document includes forward-looking statements. The forward-looking statements are generally identified by the use of forward-looking words, such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “predict”, “will”, “should”, “may” or other variations of such terms, or by discussion of strategy. These statements relate to EADS’ future prospects, developments and business strategies and are based on analyses or forecasts of future results and estimates of amounts not yet determinable. These forward-looking statements represent the view of EADS only as of the dates they are made, and EADS disclaims any obligation to update forward-looking statements, except as may be otherwise required by law. The forward-looking statements in this Registration Document involve known and unknown risks, uncertainties and other factors that could cause EADS’ actual future results, performance and achievements to differ materially from those forecasted or suggested herein. These include changes in general economic and business conditions, as well as the factors described in “Risk Factors” below. This Registration Document was prepared in accordance with Annex 1 of EC Regulation 809/2004, filed in English with, and approved by, the Autoriteit Financiële Markten (the “AFM”) on 19 April 2011 in its capacity as competent authority under the Wet op het financieel toezicht (as amended) pursuant to Directive 2003/71/EC.
  • Proyecto Fin De Carrera Ingeniería Aeronáutica Desarrollo De Un

    Proyecto Fin De Carrera Ingeniería Aeronáutica Desarrollo De Un

    Proyecto Fin de Carrera Ingeniería Aeronáutica Desarrollo de un modelo de turbohélice de tres ejes. Análisis y evaluación de prestaciones en diferentes aplicaciones. Autor: Luca García Hernández Tutor: Francisco J. Jiménez-Espadafor Aguilar Dep. Ingeniería Energética Escuela Técnica Superior de Ingeniería Universidad de Sevilla Sevilla, 2017 Proyecto Fin de Carrera Ingeniería Aeronáutica Desarrollo de un modelo de turbohélice de tres ejes. Análisis y evaluación de prestaciones en diferentes aplicaciones. Autor: Luca García Hernández Tutor: Francisco J. Jiménez-Espadafor Aguilar Catedrático Dep. Ingeniería Energética Escuela Técnica Superior de Ingeniería Universidad de Sevilla Sevilla, 2017 Proyecto Fin de Carrera: Desarrollo de un modelo de turbohélice de tres ejes. Análisis y evaluación de prestaciones en diferentes aplicaciones. Autor: Luca García Hernández Tutor: Francisco J. Jiménez-Espadafor Aguilar El tribunal nombrado para juzgar el trabajo arriba indicado, compuesto por los siguientes profesores: Presidente: Vocal/es: Secretario: acuerdan otorgarle la calificación de: El Secretario del Tribunal Fecha: Agradecimientos Los proyectos finales de carrera encierran muchas historias de constancia y superación a lo largo del tiempo. Con este proyecto, pongo fin a una etapa muy importante de mi vida. Escribir estas palabras supone una gran satisfacción por la meta alcanzada y una gran alegría, pues supone el inicio de la etapa como ingeniero, en la que aplicar todo lo aprendido a lo largo de la carrera. Este proyecto me ha hecho profundizar considerablemente en el campo de los motores aeronáuticos y las herramientas para su modelado matemático. Ha sido muy enriquecedor para mí y seguro que los conocimientos aquí adquiridos, me serán de gran utilidad. Este logro no es sólo personal, pues sin la ayuda y el acompañamiento de muchas personas no podría haberlo conseguido.
  • POLITECNICO DI MILANO Thermodynamic Analysis of A

    POLITECNICO DI MILANO Thermodynamic Analysis of A

    POLITECNICO DI MILANO School of Industrial and Information Engineering Department of Aerospace Science and Technology Master of Science in Aeronautical Engineering Thermodynamic analysis of a turboprop engine with regeneration and intercooling Advisor: Prof. Roberto ANDRIANI M.Sc. Dissertation of: Rasheed Michael ISHOLA Matr. 895396 April 2020 Academic Year 2019-2020 Contents Introduction 1 1 Turbopropeller engines overview 2 1.1 Turbopropeller characteristics . .4 1.2 Comparison with turbojets and piston-powered engines . .4 1.3 Turbopropeller-powered aircrafts . .5 1.4 Turbopropeller manufacturers . .9 1.4.1 Pratt & Whitney Canada (PWC) [1] . .9 1.4.2 Rolls-Royce [2] . 17 1.4.3 General Electric Aviation [3] . 22 1.4.4 JSC Kuznetsov [4] . 26 1.4.5 JSC \UEC-Klimov" [5] . 27 1.4.6 Ivchenko-Progress ZMKB [6] . 28 1.4.7 Honeywell Aerospace [7] . 33 1.4.8 PBS Aerospace [8] . 34 2 Thermodynamics of a turbopropeller engine with heat exchange 36 2.1 Intercooling and regeneration . 36 2.2 Thermodynamic cycle . 39 2.2.1 Assumptions . 39 2.2.2 The cycle . 42 2.3 Performances . 48 3 The code 53 3.1 Assumptions and data used . 54 3.1.1 Efficiencies and pressure losses . 54 3.1.2 Fuel properties . 54 3.1.3 Specific heat values . 55 3.2 Code Structure . 57 3.2.1 Input file . 57 3.2.2 Output files . 58 3.2.3 Code details . 62 4 Numerical simulation 78 4.1 Results . 78 4.1.1 Determination of the best βn condition . 79 4.1.2 Performances vs βc ..........................
  • Tutorial IEEE PHM SAFRAN AIRCRAFT ENGINES Dallas 2017

    Tutorial IEEE PHM SAFRAN AIRCRAFT ENGINES Dallas 2017

    Tutorial IEEE PHM SAFRAN AIRCRAFT ENGINES Dallas 2017 Marion Jedruszek, François Demaison, Jerome Lacaille, Josselin Coupard, Guillaume Bastard, Yacine Stouky Prognostics & Health Monitoring @ Safran Safran Aircraft Engines, 77550 Moissy-Cramayel, France This document and the information therein are the property of Safran. They must not be copied or communicated to a third party without the prior written authorization of Safran SAFRAN AIRCRAFT ENGINES PHM / TUTORIAL CONTENTS Global PHM System Architecture Operational realizations System perimeter PHM Systems on CFM56 & Silvercrest engine Engine dysfunction analysis Gaining in confidence in a PHM System Engine wear modes Predictive & Effective maintenance System architecture 1 2 3 4 Introduction & Context Embedding a PHM System Why PHM for Aircraft Engines ? Constraints on airborne systems Harsh environment & monitoring Chapter progress bar 2 June 2017 / R& T 1 2 3 4 Q This document and the information therein are the property of Safran. They must not be copied or communicated to a third party without the prior written authorization of Safran 443 0,121 0,062 ABOUT US 0,062 3 June 2017 / R& T 1 2 3 4 Q This document and the information therein are the property of Safran. They must not be copied or communicated to a third party without the prior written authorization of Safran About us SAFRAN GROUP IN BRIEF 1/4 More than 70 successful 1 single-aisle commercial jet takes Ariane5 launches in a raw off every 2 seconds, powered by our engines 1 out of 3 helicopter Over 35,000 turbine engines sold power worlwide 17,300 nacelle transmissions, components in totaling over 850 service million flight-hours More than 40,000 500km of electrical wiring on an landings a day using our Airbus A380 equipment 4 June 2017 / R& T 2 3 4 Q This document and the information therein are the property of Safran.
  • Ahead of Its Time 75 Years of MTU History

    Ahead of Its Time 75 Years of MTU History

    Annual Report 2008 Ahead of its time 75 years of MTU history. 100 years of aviation expertise. WorldReginfo - a6a23212-0bdc-4ce2-9f68-998dbc575eab Order backlog by segments (without consolidation) in € million Revenues by segments (without consolidation) in € million OEM MRO OEM MRO 2004 3,236.0 2,125.0 2004 1,375.6 575.9 2005 3,433.8 3,703.6 2005 1,434.8 766.9 2006 3,218.4 3,804.4 2006 1,483.1 954.7 2007 3,216.8 5,139.6 2007 1,599.5 1,004.7 2008 3,884.5 5,361.2 2008 1,642.9 1,113.0 EBITDA adjusted by segments (without consolidation) in € million Net profit in € million OEM MRO 2004 131.3 42.7 2004 0.2 2005 162.4 77.8 2005 32.8 2006 217.7 103.4 2006 89.1 2007 305.7 87.9 2007 154.1 2008 330.3 78.9 2008 179.7 WorldReginfo - a6a23212-0bdc-4ce2-9f68-998dbc575eab Selected consolidated financial information and key figures at a glance Change in € million (unless otherwise specified) 2008 - 2007 2008 2007 2006 Revenues and earnings Revenues 148.4 5.8 % 2,724.3 2,575.9 2,416.2 thereof: commercial and military engine business (OEM) 43.4 2.7 % 1,642.9 1,599.5 1,483.1 thereof: commercial maintenance business (MRO) 108.3 10.8 % 1,113.0 1,004.7 954.7 Earnings before interest, tax, depreciation and amortization (EBITDA) 15.6 4.0 % 408.5 392.9 335.6 Earnings before interest and tax (EBIT) 5.0 2.1 % 248.3 243.3 183.8 Net profit 25.6 16.6 % 179.7 154.1 89.1 Earnings (adjusted) Earnings before interest, tax, depreciation and amortization (EBITDA adjusted) 12.8 3.3 % 405.7 392.9 318.2 Earnings before interest and tax (EBIT adjusted) 18.4 5.9 % 331.0 312.6
  • 2019 UNIVERSAL REGISTRATION DOCUMENT Including the Annual Financial Report CONTENTS

    2019 UNIVERSAL REGISTRATION DOCUMENT Including the Annual Financial Report CONTENTS

    2019 UNIVERSAL REGISTRATION DOCUMENT Including the Annual Financial Report CONTENTS EXTRACT FROM THE INTEGRATED REPORT 2 5 NON-FINANCIAL SAFRAN AT A GLANCE 3 PERFORMANCE 241 EDITORIAL 4 5.1 Organization and management of non‑financial performance 242 GROUP PROFILE 6 5.2 Key non‑financial risks 246 ECOSYSTEM 12 5.3 Business ethics, export and customs controls 251 STRATEGY AND BUSINESS MODEL 18 5.4 Responsible purchasing 256 5.5 Climate and environment 258 CORPORATE GOVERNANCE 40 5.6 Health and safety 265 PERFORMANCE AND VALUE CREATION 46 5.7 Human resources 268 5.8 Social dialogue 275 5.9 Social impact 276 5.10 Methodological note and ITP report 278 5.11 Cross‑reference table for the Non‑financial Information Statement 284 PRESENTATION 1 OF THE GROUP 49 6 1.1 Safran overview 50 CORPORATE GOVERNANCE 287 1.2 Group businesses 54 6.1 Safran’s corporate governance structure 288 1.3 Competitive position 74 6.2 Membership structure of the Board Research and development 74 1.4 of Directors 291 1.5 Industrial investments 81 6.3 Operating procedures and work of Sites and production plants 83 1.6 the Board of Directors and the Board Safran performance and quality policy 84 1.7 Committees 324 6.4 Application of the AFEP‑MEDEF Corporate Governance Code 334 6.5 Directors’ interests in the Company’s share capital 334 2 REVIEW OF OPERATIONS IN 2019 6.6 Compensation policy and compensation AND OUTLOOK FOR 2020 87 packages for corporate officers 335 6.7 Cross‑reference table for the corporate 2.1 Comments on the Group’s performance governance report prepared
  • 2020 Integrated Report Contents Safran at a Glance 2020 Key Figures

    2020 Integrated Report Contents Safran at a Glance 2020 Key Figures

    2020 INTEGRATED REPORT CONTENTS SAFRAN AT A GLANCE 2020 KEY FIGURES SAFRAN AT A GLANCE €1,073 million FREE CASH FLOW P. 01 rd Global aerospace group, excluding * RISK 3 airframers €2,792 million EDITORIAL MANAGEMENT NET DEBT P. 02 P. 40 REVENUE(1) CORPORATE down 33.0% (down 32.5% €449 million GROUP €16,498 million CAPEX PROFILE GOVERNANCE on organic basis) on 2019 P. 04 P. 42 RECURRING OPERATING INCOME(1) €1,213 million €1,686 million down 55.9% (down 58.6% TOTAL R&D ECOSYSTEM PERFORMANCE AND VALUE on organic basis) on 2019 (including customer-funded R&D) P. 10 CREATION (1) P. 50 PROFIT €844 million (Group share) 78,892 STRATEGY down 68.3% on 2019 EMPLOYEES AND BUSINESS (at December 31, 2020) MODEL P. 18 Long-term credit rating: BBB+ (with stable outlook) Our activities AEROSPACE AIRCRAFT AIRCRAFT PROPULSION EQUIPMENT/ INTERIORS DEFENSE/ AEROSYSTEMS BREAKDOWN OF REVENUE(1) BY SEGMENT €7,633 million €6,893 million €1,922 million BREAKDOWN OF RECURRING OPERATING INCOME(1) BY SEGMENT €1,192 million €687 million €(174) million BREAKDOWN OF RECURRING OPERATING MARGIN(1) BY SEGMENT 15.6% 10.0% (9.1)% * Classification criteria: revenue - Source: Safran. (1) Adjusted data. See section 2.1.1 of the 2020 Universal Registration Document for a reconciliation of the consolidated income statement with the adjusted income statement and a breakdown of the adjustment. 1 I SAFRAN 2020 INTEGRATED REPORT EDITORIAL EDITORIAL Message from the Chairman of the Board of Directors IN 2021, SAFRAN WILL ROSS McINNES and the Chief Executive Officer CONTINUE TO DRAW OLIVIER ANDRIÈS STRENGTH FROM ITS The total mobilization of all teams enabled Safran to tackle the crisis in 2020.
  • Aerospace Propulsion

    Aerospace Propulsion

    Unmanned Aerial Vehicle Propulsion by Sean Brown A PROJECT submitted to Oregon State University University Honors College in partial fulfillment of the requirements for the degree of Honors Baccalaureate of Science in Mechanical Engineering (Honors Associate) Presented February 27th, 2015 Commencement June 2015 2 4 ©Copyright by Sean Brown February 27th, 2015 All Rights Reserved 5 Unmanned Aerial Vehicle Propulsion by Sean Brown A PROJECT submitted to Oregon State University University Honors College in partial fulfillment of the requirements for the degree of Honors Baccalaureate of Science in Mechanical Engineering (Honors Associate) Presented February 27th, 2015 Commencement June 2015 6 TABLE OF CONTENTS Table of Contents ............................................................................................................................. 8 1 Introduction ............................................................................................................................ 12 2 Propulsion Systems ................................................................................................................ 12 2.1 Piston-Propeller.............................................................................................................. 12 2.2 Gas turbine ..................................................................................................................... 12 2.2.1 Turbojets ................................................................................................................ 12 2.2.2 Turboprops