Airbus FY2023 net income drops 11%, revenue up 11%
For Q42023, Airbus reported a 11% increase in revenue at €22.9 billion and net income was down 13% at €1.5 billion
(Photo Credit: Airbus)
Airbus reported a 11 percent decline in net income at €3.8 billion for the full year 2023 compared to €4.2 billion in 2022.
Revenue increased 11 percent to €65.4 billion for 2023 reflecting the higher number of deliveries, says an official release. "A total of 735 commercial aircraft were delivered (2022: 661 aircraft) including 68 A220s, 571 A320 Family, 32 A330s and 64 A350s."
Gross commercial aircraft orders totalled 2,319 (2022: 1,078 aircraft) with net orders of 2,094 aircraft after cancellations (2022: 820 aircraft), the release added. "The order backlog amounted to 8,598 commercial aircraft at the end of 2023. Airbus Helicopters registered 393 net orders (2022: 362 units), which were well spread across programmes and corresponds to a book-to-bill ratio above 1 both in units and value. Airbus Defence and Space’s order intake by value increased 15 percent to €15.7 billion (2022: €13.7 billion), corresponding to a book-to-bill of around 1.4 by value."
Consolidated order intake by value increased to €186.5 billion (2022: €82.5 billion) with the consolidated order book valued at €554 billion at the end of 2023 (year-end 2022: €449 billion).
Guillaume Faury, Chief Executive Officer, Airbus
Guillaume Faury, Chief Executive Officer, Airbus says: "“In 2023, we recorded strong order intake across all our businesses and we delivered on our commitments. This was a significant achievement given the complexity of the operating environment. We will continue to invest in our global industrial system while progressing on our transformation and decarbonisation journey. Our dividend proposals are a reflection of the strong 2023 financials, our growth prospects in 2024 and balance sheet strength.”
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. "On the A320 Family programme, production is progressing well towards the previously announced rate of 75 aircraft per month in 2026. In 2023, construction of the second A320 final assembly capacities in Tianjin (China) and Mobile (U.S.) commenced and the new A320 Family final assembly line in Toulouse delivered its first aircraft in December. The first customer A321XLR entered into the final assembly line in December with entry-into-service for the aircraft type expected to take place in Q32024. On widebody aircraft, the company continues towards a monthly rate of four aircraft for the A330 in 2024 and rate 10 in 2026 for the A350."
For the fourth quarter of 2023, Airbus reported a 11 percent increase in revenue at €22.9 billion and net income was down 13 percent at €1.5 billion.
2024 outlook
Airbus is expecting 800 commercial aircraft deliveries in 2024 with an adjusted EBIT of €6.5-7 billion and free cash flow before customer financing of around €4 billion.
