- Joe Breitfeller
Airbus Reports Half Year 2022 Net Profit of €1.9 Billion or €2.42 per Share
Airbus has reported a half-year (H1) 2022 net profit of €1.9 billion or €2.42 per share on a one percent increase in revenue to €24.8 billion. The aerospace giant delivered 297 commercial aircraft during the first six months of 2022, and received 259 net new orders.
On Wednesday (July 27, 2022), Airbus announced their financial results for the first half (H1) of 2022 for the period ending June 30, 2022. The company reported a net profit of €1.9 billion or €2.42 per share on a year-over-year increase in revenue to €24.8 billion. Airbus ended the first half with €7.2 billion in net cash, and total liquidity of €27.6 billion. During H1, the company delivered 297 commercial aircraft, including 25 A220s, 230 A320 Family, 13 A330s and 29 A350s. The A320 Family production target rate of 75 for 2025 remains unchanged. The company has also increased their 2022 guidance for commercial aircraft deliveries to approximately 700.
In Wednesday’s announcment, Airbus’ Chief Executive Officer, Guillaume, Faury, said,
“Airbus delivered a solid H1 2022 financial performance in a complex operating environment, with the geopolitical and economic situation creating further uncertainties for the industry. The supply chain challenges are leading us to adjust the A320 Family ramp-up steps in 2022 and 2023, and we now target a monthly rate of 65 in early 2024. Our aircraft delivery target for 2022 has been updated accordingly. The earnings and free cash flow guidance are maintained, underpinned by the H1 financials. The Airbus teams are engaged with suppliers and partners to ramp up towards an A320 Family monthly production rate of 75 in 2025, backed by strong customer demand.”
For the first half of 2022 Airbus’ gross commercial aircraft orders increased to 442, up from 165 in H1 2021, with net orders of 259 after cancellations. At June 30, 2022, the company’s order backlog included 7,046 commercial aircraft. In June, the first flight of the new Airbus A321XLR (Xtra-Long-Range) aircraft took place, representing a major milestone towards the aircraft’s entry-into-service, which is expected in early 2024. On widebody aircraft, Airbus is exploring, along with their supply chain partners, the feasibility of further production rate increases, as international air travel demand recovers.