{"id":11132,"date":"2021-10-28T15:36:36","date_gmt":"2021-10-28T20:36:36","guid":{"rendered":"http:\/\/planesintheair.com\/?p=11132"},"modified":"2021-10-30T18:14:28","modified_gmt":"2021-10-30T23:14:28","slug":"airbus-reports-third-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=11132","title":{"rendered":"Airbus Reports Third Quarter 2021 Results"},"content":{"rendered":"\n

Amsterdam, 28 October 2021<\/strong>\u00a0\u2013 Airbus SE (Paris stock exchange symbol: AIR<\/a>) reported consolidated financial results for the nine months ended 30 September 2021.<\/p>\n\n\n\n

\u201cThe nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place,\u201d said Airbus Chief Executive Officer Guillaume Faury. \u201cBased on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions.<\/p>\n\n\n\n

Gross commercial aircraft orders totalled 270 (9m 2020: 370 aircraft) with net orders of 133 aircraft after cancellations (9m 2020: 300 aircraft). The order backlog was 6,894 commercial aircraft on 30 September 2021. Airbus Helicopters booked 185 net orders (9m 2020: 143 units), including 10 helicopters of the Super Puma Family. Airbus Defence and Space\u2019s order intake by value was \u20ac 10.1 billion (9m 2020: \u20ac 8.2 billion) with third quarter orders including 56 C295 aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for the German and Spanish Eurofighter fleets.<\/p>\n\n\n\n

Consolidated revenues<\/strong> increased 17 percent to \u20ac 35.2 billion (9m 2020: \u20ac 30.2 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of 424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341 A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus\u2019 commercial aircraft activities increased 21 percent, largely reflecting the delivery performance compared to 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m 2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higher deliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defence and Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m 2021.<\/p>\n\n\n\n

Consolidated EBIT Adjusted<\/strong> \u2013 an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains\/losses from the disposal and acquisition of businesses \u2013 was \u20ac 3,369 million (9m 2020: \u20ac -125 million).<\/p>\n\n\n\n

The EBIT Adjusted related to Airbus\u2019 commercial aircraft activities totalled \u20ac 2,739 million (9m 2020: \u20ac -641 million), mainly driven by the operational performance linked to deliveries and efforts on cost containment and competitiveness.<\/p>\n\n\n\n

The A220 production rate, which is currently at 5 aircraft a month, is expected to increase to around rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.<\/p>\n\n\n\n

Airbus Helicopters\u2019 EBIT Adjusted increased to \u20ac 314 million (9m 2020: \u20ac 238 million), driven by services, programme execution and lower spending on Research & Development (R&D).<\/p>\n\n\n\n

EBIT Adjusted at Airbus Defence and Space increased to \u20ac 284 million (9m 2020: \u20ac 266 million), mainly reflecting the Division\u2019s efforts on cost containment and competitiveness.<\/p>\n\n\n\n

Consolidated self-financed R&D expenses<\/strong> totalled \u20ac 1,919 million (9m 2020: \u20ac 2,032 million).<\/p>\n\n\n\n

Consolidated EBIT (reported)<\/strong> amounted to \u20ac 3,437 million (9m 2020: \u20ac -2,185 million), including net Adjustments of \u20ac +68 million. <\/p>\n\n\n\n

These Adjustments comprised: <\/p>\n\n\n\n