DGAP-Adhoc

Airbus Group SE: Airbus Group Reports First Quarter (Q1) 2016 Results - Seite 2

were stable at Commercial Aircraft supported by the strengthening average
U.S. dollar rate. Helicopters' revenues declined 10 percent, reflecting
lower deliveries of 56 units (Q1 2015: 62 units) and an unfavourable mix.

Group EBIT* before one-off(3) - an indicator capturing the underlying
business margin
by excluding material non-recurring charges or profits caused by movements
in provisions related to programmes and restructurings or foreign exchange
impacts - was EUR 501 million
(Q1 2015: EUR 651 million). Commercial Aircraft's EBIT* before one-off
totalled EUR 407 million
(Q1 2015: EUR 569 million), driven mainly by the back-loaded profile of
deliveries and A330 rate adjustment but partly compensated by lower
research and development (R&D) costs. Helicopters' EBIT* before one-off
declined to EUR 33 million (Q1 2015: EUR 52 million), mainly reflecting
lower volumes and an unfavourable mix. Defence and Space's EBIT* before
one-off increased 21 percent to EUR 109 million (Q1 2015: EUR 90 million),
supported by programme execution, portfolio focusing and efficiency
measures.
Group self-financed R&D expenses declined to EUR 547 million (Q1 2015: EUR
701 million).

The A350 XWB ramp-up is progressing with the focus on bottlenecks in the
supply chain, reducing outstanding work and controlling recurring costs.
This is increasingly challenging.
The target for a monthly production rate of 10 A350s by the end of 2018
remains unchanged. Five A320neos were delivered in the first quarter to two
customers. Pratt & Whitney is committed to supplying new engines for
aircraft delivery from the summer of 2016. The engines are expected to be
delivered to the right level of maturity to enable the NEO ramp-up in the
second half of 2016. Overall, the A320 ramp-up preparation continues
despite temporary supply chain challenges that are expected to be recovered
by year-end.

In the context of its internal compliance improvement programme, Airbus
Group discovered certain mistakes and omissions relating to information
provided in respect to consultants and other third parties in applications
for export credit financing for Airbus customers and as a result has
informed the relevant U.K. authorities. Some Export Credit Agency (ECA)
financing has been temporarily suspended. The Group is cooperating with the
relevant ECAs to resolve this issue as soon as possible and hopes to obtain
financing or refinancing in the near future.

On the A400M, following a recent Airworthiness Directive from the European
Aviation Safety Agency linked to the propeller gearbox on the engine, a