Airbus SE, under the stock exchange symbol AIR, has released its consolidated financial results for the nine months ending on 30 September 2023.
CEO Guillaume Faury stated that despite the increasingly complex global environment, Airbus has made significant progress in its operational plan. The earnings for the nine-month period reflect an increase in commercial aircraft deliveries and a strong performance in the helicopter sector. However, there were also charges associated with the reassessment of certain satellite development programmes.
The demand for commercial aircraft remains robust, with a continued recovery in the widebody market. Despite the challenging supply chain, Airbus maintains its guidance for the full year.
In terms of orders, gross commercial aircraft orders totalled 1,280, a significant increase from 856 aircraft in the same period in 2022. After cancellations, net orders stood at 1,241 aircraft, up from 647 aircraft in 2022. The order backlog amounted to 7,992 commercial aircraft at the end of September 2023.
Airbus Helicopters registered 191 net orders, spread across various programmes. The order intake by value for Airbus Defence and Space was € 8.5 billion, including the renewal of the in-service support contract for Germany’s A400M fleet.
Consolidated revenues increased by 12 percent year-on-year to € 42.6 billion. A total of 488 commercial aircraft were delivered, comprising 41 A220s, 391 A320 Family, 20 A330s and 36 A350s. This represents an increase from 437 aircraft delivered in the same period in 2022.
Revenues generated by Airbus’ commercial aircraft activities increased by 18 percent, mainly reflecting the higher number of deliveries. Airbus Helicopters’ deliveries increased slightly to 197 units, with revenues rising by 3 percent. However, revenues at Airbus Defence and Space decreased by 6 percent, mainly due to a backloaded A400M delivery profile and updated Estimates at Completion of certain satellite development programmes.
Consolidated EBIT Adjusted was € 3,631 million, up from € 3,481 million in 2022. This key indicator captures the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses.
The A220 programme is ramping up towards a monthly production rate of 14 aircraft in 2026. Production on the A320 Family programme is progressing well towards the previously announced rate of 75 aircraft per month in 2026. The A321XLR is progressing towards certification, with entry-into-service expected to take place in Q2 2024. On widebody aircraft, the Company has decided to increase the production rate for the A350 to 10 aircraft a month in 2026 and continues to target rate 4 for the A330 in 2024.
Airbus Helicopters’ EBIT Adjusted increased to € 417 million, reflecting the overall performance across programmes and services.
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