Airbus Q12024 revenue up 9% on higher deliveries

Airbus reported a nine percent increase in consolidated revenues at €12.8 billion for the first quarter of 2024 on higher deliveries.

A total of 142 commercial aircraft were delivered compared to 127 aircraft in Q1 2023, an increase of 12 percent, says an official release. The deliveries included 12 A220s, 116 A320 Family, seven A330s and seven A350s. Revenues generated by Airbus’ commercial aircraft activities increased 13 percent to €9.2 billion.

Consolidated adjusted EBIT declined 25 percent to €577 million (Q12023: €773 million) "due to the increased Airbus Employee Share Ownership Plan, which saw record participation among employees and resulted in a year-on-year expense increase of slightly above €0.1 billion." Net income was up 28 percent to €595 million.

Gross commercial aircraft orders totalled 170 (Q12023: 156 aircraft) with the same number of net orders due to no cancellations (Q12023 net orders: 142 aircraft). The order backlog amounted to 8,626 commercial aircraft at the end of March 2024, the release added.

 “We delivered first quarter 2024 results against the backdrop of an operating environment that shows no sign of improvement. Geopolitical and supply chain tensions continue. In that context, we delivered 142 commercial aircraft,” says Guillaume Faury, CEO, Airbus. “We started 2024 with a solid order intake across our businesses. The strong momentum on widebody aircraft underpins our decision to increase the production rate for the A350 to 12 aircraft a month in 2028. Our ramp up plans are continuing, supported by the investments in our production system while relying on our core pillars of safety, quality, integrity, compliance and security.”

The A220 ramp-up continues towards a monthly production rate of 14 aircraft in 2026 with a focus on the programme's industrial maturity and financial performance, the release added. "On the A320 Family programme, the company is making progress towards the rate of 75 aircraft per month in 2026. Entry-into-service of the A321XLR continues to be expected in Q32024. On widebody aircraft, the company continues to target rate four for the A330 in 2024."

2024 Outlook
The guidance issued in February 2024 remains unchanged, the release said. "As the basis for its 2024 guidance, the Company assumes no additional disruptions to the world economy, air traffic, the supply chain, the company’s internal operations, and its ability to deliver products and services."

Airbus targets to achieve in 2024:

*Around 800 commercial aircraft deliveries;

*Adjusted EBITbetween €6.5-7 billion; and

*Free cash flow before customer financing of around € 4 billion.