Airbus has reported a first quarter 2024 net profit of €595 million or €0.76 per share on a year-over-year increase in revenue of 9.0 percent to €12.8 billion. The company ended the quarter with a consolidated net cash position of €8.7 billion.
On Thursday (April 25, 2024), Airbus reported their first quarter 2024 financial results for the period ending March 31, 2024. The company reported a first quarter net profit of €595 million or $0.76 per share on a 9.0 percent increase in revenue versus Q1 2023 to €12.8 billion. At the end of the first quarter, Airbus’ gross cash position stood at €23.4 billion, with a consolidated net cash position of €8.7 billion. Airbus delivered 142 commercial aircraft during the period, including 12 A220s, 116 A320 Family, seven A330s and seven A350s.
In Thursday’s announcement, Airbus’ CEO, Guillaume Faury, said,
“We delivered first quarter 2024 results against the backdrop of an operating environment that shows no sign of improvement. Geopolitical and supply chain tensions continue. In that context, we delivered 142 commercial aircraft. We started 2024 with a solid order intake across our businesses. The strong momentum on widebody aircraft underpins our decision to increase the production rate for the A350 to 12 aircraft a month in 2028. Our ramp up plans are continuing, supported by the investments in our production system while relying on our core pillars of safety, quality, integrity, compliance and security.”
During the first quarter, Airbus booked 170 net commercial aircraft orders, and at March 31, 2024, the company’s order backlog included 8,626 commercial aircraft. Commercial aircraft revenue for the first quarter increased 13 percent versus Q1, 2023, mainly reflecting increased deliveries.
Airbus A220 production continues to ramp-up towards a monthly rate of 12 aircraft in 2026. The company is also making progress on the A320 Family program with the goal of reaching a production rate of 76 per month in 2026. Entry-to-service of the A321XLR is still expected in the third quarter of 2024. Airbus will increase A350 production to 12 per month in 2028, and continues an A330 target rate of four monthly in 2024.
Source: Airbus