Airbus reports flat H1 revenue of €24.8 billion

Airbus reported a marginal increase in consolidated revenue at €24.8 billion ($25.3 billion) and 2 percent decline in adjusted earnings of €2.6 billion ($2.65 billion) for the first half of 2022.

Airbus delivered 297 commercial aircraft during the period under review including 25 A220s, 230 A320 Family, 13 A330sand 29 A350s, according to a statement issued announcing the results.

"Airbus delivered a solid H1 2022 financial performance in a complex operating environment with the geopolitical and economic situation creating further uncertainties for the industry," says Guillaume Faury, Chief Executive Officer, Airbus. "The supply chain challenges are leading us to adjust the A320 Family ramp-up steps in 2022 and 2023, and we now target a monthly rate of 65 in early 2024. Our aircraft delivery target for 2022 has been updated accordingly. The earnings and free cash flow guidance are maintained, underpinned by the H1 financials. The Airbus teams are engaged with suppliers and partners to ramp up towards an A320 Family monthly production rate of 75 in 2025, backed by strong customer demand."

Gross commercial aircraft orders increased to 442 (H12021: 165 aircraft) with net orders of 259 aircraft after cancellations (H12021: 38 aircraft). The order backlog amounted to 7,046 commercial aircraft on June 30, 2022, the statement added.

Outlook
"The company assumes no further disruptions to the world economy, air traffic, the company's internal operations, and its ability to deliver products and services."

Airbus now targets to deliver around 700 commercial aircraft in 2022, maintains an adjusted earnings target of around €5.5 billion ($5.6 billion) and around €3.5 billion ($3.6 billion) free cash flow before M&A and customer financing, the statement said.