Ben Fidler's questions to BAE SYSTEMS PLC /FI/ (BAESY) leadership • H1 2015
Question
Ben Fidler of Deutsche Bank questioned the reason for lowering the guidance on customer advances and its potential link to confidence in securing Q4 Typhoon orders. He also asked about other realistic Typhoon export campaigns beyond Saudi Arabia.
Answer
Group Finance Director Peter Lynas clarified that the change in customer advance guidance was due to a higher-than-expected burn rate on existing contracts, not a change in expected new receipts. CEO Ian King reiterated the long-term strategy to secure approximately 100 more Typhoon aircraft sales to extend production through 2021-2022.