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    Ben Fidler

    former Managing Director and Senior Equity Analyst at Deutsche Bank

    Ben Fidler is a former Managing Director and Senior Equity Analyst at Deutsche Bank, specializing in European Aerospace & Defense sector research with a distinguished track record covering major companies such as BAE Systems, Rolls-Royce Holdings, Thales, and Airbus. He consistently ranked among the top All-Europe research analysts, earning multiple first-place awards and industry praise for well-timed investment calls that generated sector-leading returns—for example, outperforming the sector with a 77.5% return on Thales and 89.2% on Airbus in 2014. Fidler began his career in strategy consulting at LEK Partnership, became an equity research analyst at Kleinwort Benson in 1997, then moved to Deutsche Bank, where he led coverage until transitioning to senior financial and executive roles at Rolls-Royce and currently Bodycote PLC as CFO. He holds a master’s degree in Biochemistry from the University of Oxford and has held board positions at aerospace firms, with his equity research career bolstered by industry awards and extensive sector expertise.

    Ben Fidler's questions to BAE SYSTEMS PLC /FI/ (BAESY) leadership

    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.

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