Airbus: 2019 results driven by performance in commercial aircraft

Airbus SE reported Nine-Month (9m) 2019 consolidated financial results and provided full-year guidance.

“Our nine-month results are mainly driven by the performance in commercial aircraft, reflecting both the A320neo ramp-up and progress on the A350,” said Airbus Chief Executive Officer Guillaume Faury. “We are focused on the A320neo ramp-up and improving the industrial flow while managing the higher level of complexity on the A321 ACF in particular. Our nine-month delivery numbers and the updated delivery outlook for the year reflect the underlying actions to secure a more efficient delivery flow in the next years as we progress to rate 63 per month for the A320 Family in 2021. The full-year free cash flow guidance has been adjusted to reflect the revised delivery outlook while the EBIT Adjusted target is maintained. We are focused on meeting our customer commitments and preparing the production system for the future.”

Gross commercial aircraft orders totalled 303 (9m 2018: 311 aircraft), including 20 A330neos and 22 A350 XWBs in the third quarter alone, with net orders of 127 aircraft (9m 2018: 256 aircraft). The order book stood at 7,133 commercial aircraft as of 30 September 2019. Net helicopter orders of 173 units (9m 2018: 230 units) included 12 H135s in the third quarter. Airbus Defence and Space’s order intake by value totalled € 6.1 billion, with third quarter bookings supported by key contract wins in Space Systems.

Consolidated revenues increased to € 46.2 billion (9m 2018: € 40.4 billion), mainly driven by higher deliveries, a favourable mix and foreign exchange rate development. A total of 571 commercial aircraft were delivered (9m 2018: 503 aircraft), comprising 33 A220s, 422 A320 Family, 34 A330s, 77 A350s and 5 A380s. Airbus Helicopters delivered 209 units (9m 2018: 218 units) with its stable revenues supported by growth in services and reduced by programme phasing. In September, the 1,000th Super Puma helicopter was delivered. Higher revenues at Airbus Defence and Space were mainly driven by Military Aircraft activities.