Toulouse. Airbus is doing (very) well: financial and delivery targets maintained
By Thibaut Calatayud
Published on
It’s a special day for Airbus. This Friday, October 28, 2022, the European aircraft manufacturer is celebrating the 50e anniversary of its first flight. But that’s not all, Guillaume Faury also presented the financial results of the group for the first nine months of the year.
Quarterly earnings soar
And it’s still a “solid financial performance” despite “a complex environment with a supply chain that remains fragile due to the impact of the Covid crisis, the war in Ukraine, energy supply problems and pressures on the labor market”, announces the CEO of Airbus.
In concrete terms, in the third quarter of 2022, turnover increased by 27% compared to the third quarter of 2021. The explanation? “An increase in commercial aircraft deliveries (already 437 in 2022 against 424 at the same time in 2021, editor’s note), a favorable mix and an increased contribution from Airbus Defense and Space and Airbus Helicopters, as well as the appreciation of the US dollar. ” The quarterly profits soar also with a 65% increase (404 million euros in Q3 2021, versus 667 million in Q3 2022).
Since the beginning of the year, the group’s turnover amounts to €38.1 billion. For comparison, it was €35.2 billionat the same time, in 2021.
Orders are exploding
It’s not just deliveries that are accelerating in 2022. Airbus also announces 647 net aircraft orders. In September 2021, the manufacturer had “only” 133. The order book now stands at 7,294 commercial devices.
The same is true at Airbus Helicopters, where we go from 185 orders in September 2021 at 246 in September 2022.
On the other hand, the prices of orders, in value, for Airbus Defense and Space are down: 8 billion euros in September 2022 against 10.1 billionat the same time, in 2021.
Objectives maintained
For the end of the year, Guillaume Faury obtained the delivery targets for commercial aircraft (“around 700”) and profits (“around 5.5 billion EBIT – earnings before interest and taxes – adjusted”) . The CEO is also revising upwards the free cash flow discounters: from 3.5 billion to 4.5 billion.
“Our teams are focused on our main priorities and, in particular, on achieving the ramp-up of commercial aircraft over the months and years to come,” adds the boss of the manufacturer. For this, Airbus indicates that the A320 program is “on track to reach a production rate of 65 aircraft per month in early 2024 and 75 in 2025”.
“All sites continue to prepare for the production rate of 75 aircraft per month and to meet growing A321 orders by adapting the A320 Family final assembly lines to the A321.”
Finally, the aircraft manufacturer is also considering increase the production rate of large aircraft (A350) to meet the growing needs of airlines.
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