Airbus revealed its consolidated financial results for the first half of 2023 (H1), displaying positive growth amidst a complex operational landscape.
The company delivered 316 commercial aircraft in H1 2023, pushing revenues to a notable € 27.7 billion with an EBIT Adjusted of € 2.6 billion. Airbus’s performance also included a reported EBIT of € 1.9 billion and earnings per share (EPS) of € 1.94, with a free cash flow before M&A and customer financing at € 1.6 billion.
Airbus CEO, Guillaume Faury, confirmed the company’s 2023 guidance, drawing strength from the robust H1 performance.
Record-setting Order Backlog for Commercial Aircrafts
The gross commercial aircraft orders for H1 2023 reached a total of 1,080, more than double the figure from H1 2022 at 442. The net orders after cancellations stood at 1,044, creating a new record with the order backlog surging to 7,967 commercial aircraft by the end of June 2023.
Yet, in a contrasting trend, Airbus’s Defence and Space segment registered a decline in order intake value, reducing from € 6.5 billion in H1 2022 to € 6.0 billion in H1 2023.
Reporting an 11% increase in consolidated revenues, Airbus rose to € 27.7 billion from the previous € 24.8 billion in H1 2022. The company’s commercial aircraft activities also saw a 16% uplift, predominantly reflecting the increased number of deliveries. However, revenues for Airbus Defence and Space contracted by 8%, mainly due to delays in Space Systems and Military Air Systems delivery phasing.
Outlook for Airbus in Coming Years
Looking ahead, Airbus intends to sustain the present momentum, ramping up the A220 programme to a monthly production rate of 14 aircraft by mid-decade. The A320 Family programme is advancing towards the previously announced production rate of 75 aircraft per month in 2026.
Airbus also validated the continuation of the A321XLR flight test programme, with the aircraft’s entry-into-service anticipated in Q2 2024. The company maintained its financial guidance for 2023, including approximately 720 commercial aircraft deliveries, EBIT Adjusted of € 6.0 billion, and free cash flow before M&A and customer financing of € 3.0 billion.
