2008 Annual results Fokker Aerospace Group

Key financials      2008                     2007

 

Net Turnover                597                              543

EBITDA                         62                                8

Order book                   831                              818

Number of employees   3,700                           3,604

 Fokker Aerospace Group showed a satisfactory performance in 2008. Turnover increased by 9.9% to € 597 million, and EBITDA increased to € 62 million (EBITDA 2007 of € 8 million included a one-off loss provision of € 35 million). All the Aerospace lines of business performed better than in the preceding year. World Class Performance projects have made an important contribution to the further improvement of efficiency, cycle times and quality of the operational performance. The order book increased to € 831 million, and provides a good starting position for 2009, though production schedules are currently slipping. In March 2008 Gulfstream introduced its G650 new generation business jet. Aerospace has been selected as partner for the tail section and floor panels, through which it is once again taking a prominent position in a leadingbusiness jet programme. In April 2008 Fokker Elmo Wiring Systems and Lockheed Martin signed the agreement for wiring systems for the F-35 Lightning II (JSF), with a total potential order value of US$ 2 billion. This agreement again shows that the JSF programme is a success for the Netherlands. Together with other Dutch companies, Stork is in negotiations with the government about the correct interpretation of the joint financing agreement which was reached in 2002. The outcome is expected in the first half of 2009. Significant progress has been made together with the partners in the NH90 (helicopter) programme towards setting up a robust organisation for the sustainment phase of the programme. Aerospace had 3,700 employees at the end of 2008.