Airbus sees nine month revenues and earnings take off and orders increase

Guillaume Faury

Aircraft manufacturer, Airbus, has reported improved financial figures for the nine month period to September 30, 2022.

The group, which employs more than 5,000 staff at its Broughton plant, near Chester, making wings for all its commercial aircraft, said total consolidated revenues were €38.119bn, compared with €35.155bn in the same period a year ago.

Reported EBIT (earnings before interest and tax) were €3.552bn, which compares with €3.437bn in the prior year.

Free cash flow before mergers and acquisitions and customer financing was €2.9bn.

CEO, Guillaume Faury, said: “Airbus delivered a solid nine-month 2022 financial performance in a complex operating environment.

“The supply chain remains fragile resulting from the cumulative impact of COVID, the war in Ukraine, energy supply issues and constrained labour markets.

“Our strong focus on cash flow and the favourable dollar/euro environment have enabled us to raise our free cash flow guidance for 2022. The commercial aircraft delivery and earnings targets are maintained.

“Our teams are focused on our key priorities and, in particular, delivering the commercial aircraft ramp-up over the coming months and years.”

Gross commercial aircraft orders increased to 856, which compares with 270 in the same period during 2021, with net orders of 647 aircraft after cancellations, against 133 the previous year.

The order backlog amounted to 7,294 commercial aircraft at the end of September 2022. Airbus Helicopters registered 246 net orders (9m 2021: 185 units), with bookings well spread across programmes. Airbus Defence and Space’s order intake by value was €8bn (9m 2021: €10.1bn), corresponding to a book-to-bill ratio slightly above one.

A total of 437 commercial aircraft were delivered during the period, slightly ahead of the previous year’s level of 424.

On the A320 aircraft family programme, production is progressing towards a monthly rate of 65 aircraft in early 2024 and 75 in 2025.

As the basis for its 2022 guidance, the company assumes no further disruptions to the world economy, air traffic, the company’s internal operations, and its ability to deliver products and services. The company’s 2022 guidance is before mergers and acquisitions.

On that basis, the company maintains its targets to achieve around 700 commercial aircraft deliveries and around €5.5bn of EBIT adjusted in 2022.

The company now targets around €4.5bn of free cash flow before mergers and acquisitions and customer financing in 2022.

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