- Joe Breitfeller
Airbus Reports First Quarter Net Income of €362 Million on 2 Percent Revenue Decline to €10.5 B
Airbus has reported a first quarter 2021 net income of €362 million or €0.46 per share on a two percent year-over-year decline in revenue to €10.5 billion. The company delivered 125 aircraft during the quarter and ended the period with a net cash position of €5.6 billion.
On Thursday (April 29, 2021) Airbus reported their first quarter 2021 financial results. The company reported a first quarter net income of €362 million or €0.46 per share compared to a loss of (€481) million or (€0.61) per share for the first quarter of 2020. Revenues for the quarter fell 2 percent year-over-year to €10.5 billion. Airbus’ free cash flow before M&A and customer financing for the quarter was €1.2 billion. Airbus delivered 125 aircraft during the quarter and at March 31, 2021 had a net cash position of €5.6 billion.
In Thursday’s announcement, Airbus’ Chief Executive Officer, Guillaume Faury, said,
“The good Q1 results mainly reflect our commercial aircraft delivery performance, cost and cash containment, progress with the restructuring plan as well as positive contributions from our helicopter and defence and space activities. The first quarter shows that the crisis is not yet over for our industry, and that the market remains uncertain. We are investing in innovation and in the transformation of our Company to deliver on our long-term ambitions across the portfolio.”
Airbus’ gross commercial aircraft orders for the quarter totaled 39 aircraft, including 38 single-aisle aircraft, while net commercial orders after cancellations were -61. At March 31, 2021, the company’s order backlog included 6,998 aircraft. Airbus delivered 125 aircraft during Q1 including nine A220s, 105 A320 Family, one A330 and 10 A350s. As previously mentioned, the company ended the first quarter with a net cash position of €5.6 billion, a 29 percent increase compared to the end of the fourth quarter of 2020.