Airbus 9-months 2024 revenue up 5%, net income down 22%
Revenues generated by Airbus’s commercial aircraft activities increased four percent to €32.9 billion.
Photo Credit: Airbus
Airbus reported a five percent increase in consolidated revenue at €44.5 billion for the first nine months of 2024 compared to €42.6 billion in the same period last year on higher revenue from commercial aircraft activities.
Revenues generated by Airbus’s commercial aircraft activities increased four percent to €32.9 billion, mainly reflecting the higher number of deliveries, says an official release. "A total of 497 commercial aircraft were delivered (9m 2023: 488 aircraft) comprising 45 A220s, 396 A320 Family, 20 A330s and 36 A350s."
Net income declined 22 percent to €1.8 billion even as adjusted operating profit (EBIT) was down 23 percent at €2.8 billion.
“We saw strong demand across our product range in the first nine months of the year," says Guillaume Faury, Chief Executive Officer, Airbus. "The nine-month earnings reflect the level of commercial aircraft deliveries, a solid performance in helicopters and the charges in our space business recorded in the first half. We are constantly adapting to a complex and fast-changing operating environment marked by geopolitical uncertainties and specific supply chain challenges that have materialised in the course of 2024. We remain focused on our priorities, including ramping up commercial aircraft deliveries and transforming our Defence and Space division.”
The A220 programme continues towards a monthly production rate of 14 aircraft in 2026, with a focus on financial performance, the release added. "The A320 Family programme continues to ramp up towards a rate of 75 aircraft per month in 2027. In late October, the first A321XLR was delivered. On widebody aircraft, the company is now stabilising monthly A330 production at around rate four. On the A350, the company continues to target rate 12 in 2028 and is actively managing specific supply chain challenges that may have an impact on the programme’s ramp-up trajectory, in particular in 2025."
Airbus Helicopters’ deliveries totalled 190 units (9m 2023: 197 units) with revenues rising five percent, reflecting a more favourable mix in programmes and a solid performance in services. Revenues at Airbus Defence and Space increased seven percent year-on-year, mainly driven by the Air Power business, partly offset by the previous estimate at completion updates in Space Systems. Five A400M military airlifters were delivered (9m 2023: 4 aircraft), the release added.
2024 outlook
Airbus is expecting to report an adjusted operating profit of € 5.5 billion, around 770 commercial aircraft deliveries, and free cash flow before customer financing of around € 3.5 billion. "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."
Boeing 9-months loss at $8bn
Boeing reported a flat revenue of $18 billion for the third quarter of 2024 but net loss zoomed to $6.2 billion as the financials reflect impacts of the International Association of Machinists and Aerospace Workers (IAM) work stoppage and previously announced charges on commercial and defence programmes.
"It will take time to return Boeing to its former legacy but with the right focus and culture, we can be an iconic company and aerospace leader once again," says Kelly Ortberg, President and Chief Executive Officer, Boeing. "We will be focused on fundamentally changing the culture, stabilising the business and improving programme execution, while setting the foundation for the future of Boeing."
For the first nine months of 2024, Boeing reported a net loss of $8 billion on revenue of $51.3 billion, down eight percent.
