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Airbus posts strong Q1 2024 financial results

Airbus
© Airbus

has unveiled its consolidated for the ending March 31, 2024 (Q1 2024). The company reported robust performance across its commercial aircraft, helicopters, and defence and space divisions.

Gross commercial aircraft orders reached 170 units in Q1 2024, up from 156 in Q1 2023, with no cancellations, maintaining the same number of net orders as the previous year at 142 aircraft. The total order backlog stood at 8,626 commercial aircraft by the end of March 2024. Meanwhile, Airbus Helicopters secured 63 net orders in Q1 2024, compared to 39 units in Q1 2023, primarily in the light and medium segments. Airbus Defence and Space recorded an order intake value of €2.0 billion, slightly down from €2.5 billion in the previous year.

Consolidated revenues surged by 9% year-on-year to €12.8 billion, driven by increased commercial aircraft deliveries. A total of 142 commercial aircraft were delivered, including 12 A220s, 116 A320-family aircraft, seven A330s, and seven A350s. Revenues from Airbus' commercial aircraft activities rose by 13%, primarily due to the higher number of deliveries. However, Airbus Helicopters saw a decrease in deliveries to 50 units, leading to a 9% decline in revenues, partially offset by services. Revenues at Airbus Defence and Space increased by 4%, mainly propelled by the Air Power business.

The Consolidated EBIT Adjusted in Q1 2024, a key performance indicator excluding certain charges or profits, stood at €577 million, down from €773 million in Q1 2023. This decrease was partly attributed to the increased Airbus Employee Share Ownership Plan expenses.

EBIT Adjusted for Airbus' commercial aircraft activities decreased to €507 million, compared to €580 million in the previous year. This was despite the positive impact of higher deliveries, offset by less favourable hedge rates and investments for future preparation.

Looking ahead, Airbus continues to focus on ramping up production rates for various aircraft programmes. The programme aims to reach a monthly production rate of 14 aircraft by 2026, while the A320-family programme targets 75 aircraft per month by the same year. The entry-into-service for the A321XLR is anticipated in Q3 2024. Additionally, the production rate for the is set to increase to 12 aircraft per month by 2028, with a target of rate four for the A330 in 2024.

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