Airbus Reports Third Quarter Net Income of €404 Million on Six Percent Decline in Revenue to €10.5B
Airbus has reported a third quarter net income of €404 million or €0.51/share on a 6% year-over-year decline in revenue to €10.5 billion. For the 9 month period, the company reported a net income of €2.6 billion or €3.36/share on a 17% revenue increase to €35.2 billion.
On Thursday (October 28, 2021), Airbus announced their financial results for the third quarter and nine month period ending September 30, 2021. The company reported a third quarter net income of €404 million or €0.51 per share on a six percent year-over-year revenue decline to €10.5 billion. For the nine month period ending September 30th, Airbus reported a net income of €2.6 billion or €3.36 per share on a 17 percent increase in revenue to €35.2 billion. During the first nine months of 2021, the company delivered 424 commercial aircraft and received net orders of 133 aircraft. Deliveries included 34 A220s, 341 A320 Family, 11 A330s, 36 A350s and two A380s. At September 30, 2021, Airbus had an order backlog of 6,894 commercial aircraft
In Thursday’s announcement, Airbus’ Chief Executive Officer, Guillaume Faury, said,
“The nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place. Based on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions.”
Airbus expects to increase the A220 production rate, which is currently five per month, to six per month in early 2022, with a projected monthly rate increase to 14 by the middle of the decade. The company is ramping up A320 Family production with the goal of achieving a monthly production rate of 65 by summer 2023. With recent commercial success, A330 production will increase from two per month to nearly three monthly by the end of 2022. Additionally, Airbus will increase A350 production from around five to six monthly in early 2023.
The company’s net cash position at September 30, 2021 was €6.73 billion, a 56 percent increase compared to December 31, 2020. At the close of the quarter, Airbus employed 125,888 team members worldwide.