Airbus has disclosed its consolidated financial results for the full year 2023, accompanied by forward-looking guidance for the year 2024. The company reported a substantial increase in gross commercial aircraft orders, totalling 2,319 units, compared to 1,078 in 2022, with a net order of 2,094 aircraft after cancellations. The order backlog stood at 8,598 commercial aircraft at the close of 2023. Airbus Helicopters recorded 393 net orders, while Airbus Defence and Space's order intake increased by 15% to €15.7 billion.
Consolidated order intake reached €186.5 billion, a significant rise from €82.5 billion in 2022, resulting in a consolidated order book valued at €554 billion by the end of 2023. The consolidated backlog's increase reflects a company-wide book-to-bill ratio well above 1, partially offset by the impact of the weakening US dollar.
Consolidated revenues witnessed an 11% year-on-year growth, reaching €65.4 billion. Airbus delivered a total of 735 commercial aircraft, contributing to the revenue increase, with Airbus Helicopters' deliveries remaining stable at 346 units. Airbus Defence and Space experienced a two percent revenue increase, primarily driven by Military Air Systems and Connected Intelligence.
The consolidated EBIT Adjusted, a key performance indicator, reached €5,838 million, indicating a robust underlying business margin. EBIT Adjusted related to Airbus' commercial aircraft activities increased to €4,818 million, reflecting higher deliveries and a more favourable hedge rate. The A220- and A320-family programmes are progressing towards increased production rates, with plans for a monthly production rate of 14 A220 aircraft by 2026 and 75 A320 aircraft per month by 2026.
Airbus Helicopters‘ EBIT Adjusted rose to €735 million, while EBIT Adjusted at Airbus Defence and Space decreased to €229 million. The decrease was attributed to charges resulting from the update of estimates at completion of certain space programmes, partially offset by the overall performance of the business.
These results underscore Airbus's strong financial performance and strategic initiatives as it navigates the dynamic aerospace industry landscape. (£1.00 = €1.17 at time of publication).
