LONDON – European aircraft manufacturer Airbus has released its financial results for the first 9 months of 2022. Although the company had its operations severely impacted by the Covid-19 pandemic and still wrestles with a difficult supply-chain landscape, it has reported solid financial performance.
437 aircraft have been delivered this year to date, which translates into revenues of over 38 billion euros and earnings before incomes and taxes (EBIT) adjusted of 3.5 billion euros.
There has been over 550 more orders in the first 9 months of this year than at the same point in 2021, leaving the plane maker at 647 net orders when taking into consideration any cancellations. All this resulting in a total order backlog of 7,294 aircraft.
When breaking down the deliveries by variant, they have delivered 34 A220’s, 320 A320 family, 21 A330’s and 42 A350’s. The favourable mix, alongside a high number of deliveries and a strong US dollar has all contributed to an 8 percent rise year on year for the commercial aircraft arm of the company.
Operational performance hasn’t only increased in the commercial aircraft division, with Airbus Helicopters and Airbus defence and space both seeing increasing revenues by 9 and 10 percent respectively.
The workhorse of the skies, the A320 family aircraft, is making its way towards producing 65 aircraft a month starting in 2024, with plans for 75 a month a year later. To ensure this target can be met, there is ongoing works at plants around the world to allow factories and production areas to enable rate 75.
Final assembly lines that have always been A320 capable are now being amended to suit A321 aircraft. In Toulouse, the second A320 final assembly line is undergoing preparations for upgrades.
Airbus CEO statement
Guillaume Faury, Airbus Chief Executive Officer said: “Airbus delivered a solid nine month 2022 financial performance in a complex operating environment. The supply chain remains fragile resulting from the cumulative impact of Covid, the war in Ukraine, energy supply issues and constrained labour markets.”
“Our strong cash flow and the favourable dollar/euro environment have enabled us to raise our free cash flow guidance for 2022. The commercial aircraft delivery and earning targets are maintained.”
“Our teams are focused on our key priorities and in particular, delivering the commercial aircraft ramp-up over the coming months and year.”
AviationSource recently reported on the positive testing regime that the A321 XLR is undergoing. Now that all three test aircraft have flown, this variant has a planned entry into service date of quarter two of 2024.
Post-pandemic wide body demand is improving quicker than anticipated, and with this Airbus is exploring the feasibility of ramping up to be able to meet this demand.
As the company looks ahead to a busy final quarter of 2022, it assumes no further disruptions to the world economy, air traffic or its own internal operations. It has its sights set on delivering 700 commercial aircraft, which should deliver 5.5 billion euros in EBIT adjusted for the year.