Airbus 9-month revenue up 8% to €38bn on higher deliveries

Airbus reported an 8 percent increase in consolidated revenue at €38.1 billion ($38.1 billion) for the first nine months of 2022 compared to €35.2 billion ($35.2 billion) for the same period last year on higher deliveries.

"A total of 437 commercial aircraft were delivered (9m 2021: 424 aircraft) including 34 A220s, 340 A320 family, 21 A330s and 42 A350s," says an official release.

EBIT came in at €3.6 billion ($3.6 billion), an increase of 5 percent, and earnings per share was EPS €3.26 ($3.26).

"Airbus delivered a solid nine-month 2022 financial performance in a complex operating environment," says Guillaume Faury, Chief Executive Officer, Airbus. "The supply chain remains fragile resulting from the cumulative impact of Covid, the war in Ukraine, energy supply issues and constrained labour markets. Our strong focus on cash flow and the favourable dollar/euro environment have enabled us to raise our free cash flow guidance for 2022. The commercial aircraft delivery and earnings targets are maintained. Our teams are focused on our key priorities and in particular, delivering the commercial aircraft ramp-up over the coming months and years."

Gross commercial aircraft orders increased to 856 (9m 2021: 270 aircraft) with net orders of 647 aircraft after cancellations (9m 2021: 133 aircraft), the release added. "The order backlog amounted to 7,294 commercial aircraft at the end of September 2022. Airbus Helicopters registered 246 net orders (9m 2021: 185 units), with bookings well spread across programmes. Airbus Defence and Space's order intake by value was €8.0 billion (9m 2021: €10.1 billion), corresponding to a book-to-bill ratio slightly above 1. Third quarter 2022 order intake mainly related to services across the Division's portfolio."

For the third quarter, revenue increased 27 percent to €13 billion ($13 billion) and profit was up 37 percent to €973 million ($973 million).

Upgrades outlook
The company is maintaining its targets to achieve around 700 commercial aircraft deliveries and around €5.5 billion ($5.5 billion) of adjusted EBIT in 2022. Free cash flow is likely to be around €4.5 billion ($4.5 billion) before M&A and customer financing.