Airbus Reports Third Quarter 2023 Net Profit of €806 Million or €1.02 per Share
Airbus has reported a third quarter net income of €806 million or €1.02 per share on a year-over-year increase in revenue of 12 percent to €14.9 billion. At September 30, 2023, the company had an order backlog of 7,992 commercial aircraft.
On Wednesday (November 8, 2023) Airbus reported their third quarter and nine month financial results for the period ending September 30, 2023. The company reported a third quarter net profit of €806 million or €1.02 per share on a 12 percent year-over-year increase in revenue to €14.9 billion. For the nine month period (9M), Airbus reported a net profit of €2.33 billion or €2.96 per share on a year-over year increase in revenue of 12 percent to €42.6 billion. During 9M 2023, Airbus delivered 488 commercial aircraft, including 41 A220s, 392 A320 Family, 20 A330s and 36 A350s. At September 30, 2023, the company had a commercial aircraft backlog totaling 7,992 jets, and a net cash position of €8.32 billion.
In Wednesday’s announcement, Airbus’ Chief executive Officer, Guillaume Faury, said,
“We continue to make progress on our operational plan in a global environment that has become increasingly complex. The nine-month earnings reflect higher commercial aircraft deliveries, the good performance in helicopters as well as charges linked to the reassessment of certain satellite development programmes. Demand for our commercial aircraft is very strong with a continuing recovery in the widebody market. We expect the supply chain to remain challenging as we progress on the production ramp-up. In that context, we maintain our guidance for the full year.”
During the first nine months of 2023, Airbus received gross commercial aircraft orders totaling 1,280, up from 856 in 9M 2022, with net orders totaling 1,241 after cancellations, up from 647 in the same period last year.
Airbus continues to ramp up the A220 Program with the production goal of 14 per month by 2026, while the A320 Program is progressing toward the previously announced rate of 75 per month by 2026. The Airbus A321XLR continues progress towards certification, with entry-into-service expected in the second quarter of 2024. The company has also decided to increase A350 production to 10 per month by 2026 and continues the A330 target rate of four per month in 2024.