Airbus reports strong full-year 2021 results

Airbus has reported consolidated full year (FY) 2021 financial results. The company reported consolidated revenues increased 4% to € 52.1 billion (2020: € 49.9 billion), mainly reflecting the higher number of commercial aircraft deliveries, partially offset by less favourable foreign exchange rates. A total of 611 commercial aircraft were delivered (2020: 566 aircraft), comprising 50 A220s, 483 A320 Family, 18 A330s, 55 A350s and five A380s. Revenues generated by Airbus’ commercial aircraft activities increased 6%, largely reflecting the higher deliveries compared to 2020. Airbus Helicopters delivered 338 units (2020: 300 units), including the first H160, with revenues rising 4% reflecting growth in services and the higher deliveries. Revenues at Airbus Defence and Space decreased by 2%, mainly driven by Military Aircraft, partially offset by Space Systems. Eight A400M aircraft were delivered in 2021.

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 – was € 4,865 million (2020: € 1,706 million).

The EBIT Adjusted related to Airbus’ commercial aircraft activities increased to €3,570 million (2020: € 618 million), mainly driven by the delivery performance and efforts on cost containment and competitiveness.

The financial result was €-315 million (2020: €-620 million). It mainly reflects the net interest result of €-246 million as well as the revaluation of financial instruments and of certain equity investments. Consolidated net income was €4,213 million (2020 net loss: €-1,133 million) with consolidated reported earnings per share of €5.36 (2020 loss per share: €-1.45).

Consolidated free cash flow before M&A and customer financing was€3,515 million (2020: €-6,935 million), reflecting efforts on cash containment and a decrease in working capital, mainly driven by inventory improvement. Consolidated free cash flow was €3,511 million (2020: €-7,362 million).