Airbus H1 revenue up 11% on higher deliveries

Airbus reported a 11 percent increase in revenue at €27.7 billion ($30.7 billion) for the first half of 2023 on higher commercial deliveries.

"A total of 316 commercial aircraft were delivered (H1 2022: 297 aircraft) comprising 25 A220s, 256 A320 Family, 14 A330s and 21 A350s," says an official release.

Gross commercial aircraft orders totalled 1,080 (H1 2022: 442 aircraft) with net orders of 1,044 aircraft after cancellations (H1 2022: 259 aircraft), the release added. "The order backlog amounted to a record 7,967 commercial aircraft at the end of June 2023. Airbus Helicopters registered 131 net orders (H1 2022: 163 units) which were well spread across programmes and included 19 H160s. Airbus Defence and Space’s order intake by value was €6 billion (H1 2022: €6.5 billion), including four new-build and five converted A330 Multi Role Tanker Transport aircraft for Canada."

Net income dropped 20 percent to €1.5 billion ($1.7 billion), and the net cash position at the end of June 2023 was €9.1 billion ($10.1 billion).

For the second quarter, Airbus reported a 24 percent increase in revenue at €15.9 billion ($17.6 billion) on higher commercial aircraft deliveries compared to Q22022. Net income increased 55 percent to €1.1 billion ($1.2 billion).

“During the first half of 2023 we progressed well across our businesses in an operational environment that remains complex," says Guillaume Faury, Chief Executive Officer, Airbus. "Our commercial aircraft are in strong demand as demonstrated by more than 800 orders announced at the Paris Air Show. This demand is driven both by growth and fleet replacement as airlines invest in more fuel efficient fleets. Based on this H1 performance, we maintain our 2023 guidance.”

Airbus has maintained its 2023 outlook issued in February - 720 commercial aircraft deliveries, adjusted EBIT of €6 billion ($6.7 billion) and free cash flow before M&A and customer financing of €3 billion ($3.3 billion).