Airbus Group reported half-year 2016 results and confirmed its guidance for the full year

Airbus Group order intake in the first six months of 2016 was €39.1bn (H1 2015: €53.9bn), with the order book value totalling €978bn as of 30 June 2016 (year-end 2015: €1,006bn). The order book of Airbus Defence and Space decreased by €4.6bn deue to perimeter changes. Airbus received 183 net commercial aircraft orders (H1 2015: 348 net orders) with gross orders of 227 aircraft including 27 A350 XWBs. The second half of the year started positively with 279 orders and commitments announced at Farnborough, including firm contracts for eight A350-1000s from Virgin Atlantic Airways and for 100 A321neos from AirAsia. Group revenues were stable at €28.8bn (H1 2015: €28.9bn). Despite lower deliveries of 298 aircraft (H1 2015: 304 aircraft), revenues were stable at Airbus Commercial supported by the strengthening US dollar hedge rate. Helicopters’ revenues declined nine percent, reflecting an unfavourable mix despite higher deliveries of 163 units (H1 2015: 152 units). Airbus Defence and Space’s revenues were broadly stable. Group net income rose to €1,761m (H1 2015: €1,524m) with earnings per share of €2.27 (H1 2015: €1.94) further supported by an accretion of around two percent related to the share buyback. The finance result was €-148m (H1 2015: €-344m). Free cash flow was €-1,119m (H1 2015: €549m) and included €1.2bn from the sale of Dassault Aviation shares, €750m from the implementation of the second phase of the Airbus Safran Launchers JV and €310m from the sale of the Business Communications activities. The net cash position on 30 June 2016 was €7.2bn (year-end 2015: €10.0bn) with a gross cash position of €19.5bn (year-end 2015: €19.1bn). As the basis for its 2016 guidance, Airbus Group expects the world economy and air traffic to grow in line with prevailing independent forecasts, which assume no major disruptions.