Airbus has reported a 5% increase in consolidated revenues to €44.5bn for the nine months to end September 2024. Consolidated net income was €1.808bn, compared to €2.29bn in the prior-year period. Consolidated reported earnings per share of €2.29, compared to € 2.96 last year.
Consolidated EBIT Adjusted totalled € 2,798 million (9m 2023: € 3,631 million). EBIT Adjusted related to Airbus’ commercial aircraft activities decreased to € 3,028 million (9m 2023: € 3,216 million), with the increase in deliveries being reduced by investments for preparing the future.
Airbus confirmed that the A220 programme “continues towards a monthly production rate of 14 aircraft in 2026”, adding that the A320 Family programme “continues to ramp up towards a rate of 75 aircraft per month in 2027”. In late October, the first A321XLR was delivered. On widebody aircraft, Airbus said that it is “now stabilising monthly A330 production at around rate four”. On the A350, Airbus continues to target rate 12 in 2028 and says that it is “actively managing specific supply chain challenges that may have an impact on the programme’s ramp-up trajectory, in particular in 2025”.
Airbus financial result was a loss of €92 million, which it said mainly reflected “negative impacts from the interest result and revaluation of financial instruments, partially offset by the positive impact from the revaluation of certain equity investments”.
Consolidated free cash flow before customer financing was € -845 million, mainly reflecting the change in working capital, notably the inventory build-up that supports fourth quarter deliveries and the ramp-up across programmes.
Airbus targets around 770 commercial aircraft deliveries for the full year 2024, and EBIT Adjusted of around €5.5bn; and Free Cash Flow before customer financing of around €3.5bn.
The European airframe manufacturer delivered a total of 497 commercial aircraft were delivered in the nine month period, including 45 A220s, 396 A320 Family, 20 A330s and 36 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 4%, mainly reflecting the higher number of deliveries.
Airbus Helicopters’ deliveries totalled 190 units with revenues rising 5%, reflecting a more favourable mix in programmes and a solid performance in services.
“We saw strong demand across our product range in the first nine months of the year. The nine-month earnings reflect the level of commercial aircraft deliveries, a solid performance in helicopters and the charges in our space business recorded in the first half,” said Guillaume Faury, Airbus Chief Executive Officer. “We are constantly adapting to a complex and fast-changing operating environment marked by geopolitical uncertainties and specific supply chain challenges that have materialised in the course of 2024. We remain focused on our priorities, including ramping up commercial aircraft deliveries and transforming our Defence and Space division.”
Gross commercial aircraft orders totalled 667 (9m 2023: 1,280 aircraft) with net orders of 648 aircraft after cancellations (9m 2023: 1,241 aircraft). The order backlog amounted to 8,749 commercial aircraft at the end of September 2024.
Consolidated EBIT Adjusted totalled € 2,798 million (9m 2023: € 3,631 million). EBIT Adjusted related to Airbus’ commercial aircraft activities decreased to € 3,028 million (9m 2023: € 3,216 million), with the increase in deliveries being reduced by investments for preparing the future.
Airbus confirmed that the A220 programme “continues towards a monthly production rate of 14 aircraft in 2026”, adding that the A320 Family programme “continues to ramp up towards a rate of 75 aircraft per month in 2027”. In late October, the first A321XLR was delivered. On widebody aircraft, Airbus said that it is “now stabilising monthly A330 production at around rate four”. On the A350, Airbus continues to target rate 12 in 2028 and says that it is “actively managing specific supply chain challenges that may have an impact on the programme’s ramp-up trajectory, in particular in 2025”.
Airbus financial result was a loss of €92 million, which it said mainly reflected “negative impacts from the interest result and revaluation of financial instruments, partially offset by the positive impact from the revaluation of certain equity investments”.
Consolidated free cash flow before customer financing was € -845 million, mainly reflecting the change in working capital, notably the inventory build-up that supports fourth quarter deliveries and the ramp-up across programmes.
Airbus targets around 770 commercial aircraft deliveries for the full year 2024, and EBIT Adjusted of around €5.5bn; and Free Cash Flow before customer financing of around €3.5bn.
Airbus Board of Directors is also proposing to the shareholders at the 2025 Annual General Meeting the renewal of Guillaume Faury as Executive member of the Board and Airbus Chief Executive Officer.
Airbus has also announced that Lars Wagner, currently the CEO of MTU Aero Engines AG, based in Munich, has been selected to join the Airbus Executive Committee, after finalising his term at MTU, to become the successor of Christian Scherer as CEO of the Commercial Aircraft business.