- Joe Breitfeller
Airbus Reports First Quarter 2023 Net Income of €466 Million or €0.59 per Share
Airbus has reported a first quarter net income of €466 million or €0.59 per share on a nominal year-over-year decrease in revenue of 2.0 percent to €11.8 billion. The company ended the quarter with a commercial aircraft backlog of 7,254 aircraft.
On Wednesday (May 3, 2023), Airbus reported their first quarter 2023 financial results for the period ending March 31, 2023. The aerospace giant reported a first quarter net profit of €466 million or €0.59 per share, down 62 percent versus Q1 2022. Airbus’ first quarter revenue declined year-over-year by 2.0 percent to €11.8 billion. During the first quarter, the company booked 156 gross commercial orders, with net orders of 142 after cancellations. The company delivered a total of 127 commercial aircraft during the quarter, including 10 A220s, 106 A320 Family, six A330s and five A350s. At March 31, 2023, Airbus had a net cash position totaling €8.36 billion, and an order backlog of 7,254 commercial aircraft.
In Wednesday’s announcement, Airbus’ Chief Executive Officer, Guillaume Faury, said,
“The first quarter confirmed strong demand for our products, particularly for commercial aircraft. We delivered 127 commercial aircraft, which is reflected in the Q1 financials. The quarter also benefited from a good performance in Helicopters. We continue to face an adverse operating environment that includes in particular persistent tensions in the supply chain. Our 2023 guidance is unchanged with commercial aircraft deliveries expected to be backloaded. We remain focused on delivering the commercial aircraft ramp-up and longer-term transformation.”
Airbus continues to ramp-up A220 production with the goal of achieving a monthly production rate of 14 by the middle of the decade. The A320 Family program also continued to ramp-up towards a monthly production rate of 65 aircraft by the end of 2024. The addition of a second Final Assembly line (FAL) in Tianjin, China will increase global industrial capacity to 10 FALs for the A320 Family, supporting the company’s plans to produce 75 aircraft per month in 2026. Additionally, flight testing of the A321XLR continues to progress, and Airbus expects entry-into-service of the type in Q2 2024. The company has targeted an A330 production rate of four per month in 2024, and a monthly A350 production rate on nine by the end of 2025. Entry-into-service for the new Airbus A350F is now expected in 2026.