Airbus posts record net profit as order intake nearly doubles

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Airbus announced on Thursday a near doubling in the value of its consolidated order intake in its results for 2021, to 62 billion euros (£51.79 billion) from 33.3 billion euros in 2020, with its order book at December 31 estimated at 398 billion euros, against 373 billion euros.

The European aircraft manufacturer attributed the increase in its order book to the strengthening of the US dollar.

Consolidated revenue rose 4% to 52.1 billion euros, which Airbus said reflects higher commercial aircraft deliveries, partially offset by less favorable exchange rates.

A total of 611 commercial aircraft were delivered, compared to 566 in 2020, comprising 50 A220s, 483 from the A320 Family, 18 A330s, 55 A350s and five A380s.

Revenue from Airbus’ commercial aircraft business increased 6%, largely reflecting higher deliveries compared to 2020.

Airbus Helicopters, meanwhile, delivered 338 units, down from 300 year-on-year, including the first H160, with revenue up 4%, reflecting service growth and higher deliveries.

Airbus Defense and Space revenue fell 2%, which the company said was mainly due to military aircraft, partially offset by space systems.

Eight A400M aircraft were delivered in 2021.

Consolidated Adjusted EBIT fell from EUR 1.71 billion to EUR 4.87 billion, while the business fell to a reported EBIT profit of EUR 5.34 billion against losses of €0.51 billion in 2020, including positive net adjustments of €477 million.

Airbus’ net profit for 2021 hit a record 4.2 billion euros and its reported earnings per share was 536 euro cents as the board proposed a dividend reinstatement to 150 cents per share.

Looking ahead, Airbus has forecast 720 commercial aircraft deliveries in 2022, with adjusted EBIT of €5.5 billion and free cash flow before M&A and customer financing of €3.5 billion. .

“2021 has been a year of transition, where our focus has shifted from managing the pandemic to recovery and growth,” Chief Executive Guillaume Faury said.

“Thanks to the resilience and efforts of our teams, customers and suppliers, we have achieved remarkable annual results.”

Faury said the “financial strength” reflected the higher number of commercial aircraft deliveries, the good performance of its helicopter and defense and space businesses, as well as efforts to contain costs and improve competitiveness.

“The record net profit and our efforts to strengthen the net cash position underpin our proposal to reintroduce dividend payments in the future.

“At the same time, we continue to invest in our strategic priorities and in the transformation of our business.”

At 12:42 p.m. CET (11:42 a.m. GMT), Airbus shares fell 2.47% in Paris to €116.84.

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