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.
Airbus SE reported consolidated financial results for the nine months ended September 30, 2024. 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. Airbus Helicopters registered 308 net orders (9m 2023: 191 units), including 43 heavy helicopters from the Super Puma Family.
Consolidated revenues increased 5 percent year-on-year to € 44.5 billion (9m 2023: € 42.6 billion). A total of 497 commercial aircraft were delivered (9m 2023: 488 aircraft), comprising 45 A220s, 396 A320 Family, 20 A330s and 36 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 4 percent, mainly reflecting the higher number of deliveries. Airbus Helicopters’ deliveries totalled 190 units (9m 2023: 197 units) with revenues rising 5 percent, 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.”
Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing 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 – 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.
The A220 programme continues towards a monthly production rate of 14 aircraft in 2026, with a focus on financial performance. 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, the Company is now stabilising monthly A330 production at around rate 4. On the A350, the Company continues to target rate 12 in 2028 and is actively managing specific supply chain challenges that may have an impact on the programme’s ramp-up trajectory, in particular in 2025.
On the A400M programme, development activities continue towards achieving the revised capability roadmap. Retrofit activities are progressing in close alignment with the customer. No further net material impact was recognised in the first nine months of 2024. Risks remain on the qualification of technical capabilities and associated costs, on aircraft operational reliability, on cost reductions and on securing overall volume as per the revised baseline.
The financial result was € -92 million (9m 2023: € 231 million), mainly reflecting 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 net income was € 1,808 million (9m 2023: € 2,332 million) with consolidated reported earnings per share of € 2.29 (9m 2023: € 2.96).
Consolidated free cash flow before customer financing was € -845 million (9m 2023: € 1,104 million), mainly reflecting the change in working capital, notably the inventory build-up that supports fourth quarter deliveries and the ramp-up across programmes. Consolidated free cash flow was € -877 million (9m 2023: € 843 million).
As the basis for its 2024 guidance, the Company assumes no additional disruptions to the world economy, air traffic, the supply chain, the Company’s internal operations, and its ability to deliver products and services.
On that basis, the company targets to achieve in 2024 around 770 commercial aircraft deliveries, EBIT Adjusted of around € 5.5 billion and Free Cash Flow before Customer Financing of around € 3.5 billion.
