Europe-based global major aerospace and defence group Airbus released its full-year results for 2021 on Thursday. It achieved a record net income of €4.2-billion during the year. Revenues totalled €52.1-billion, adjusted earnings before interest and taxes (Ebit) came to €4.9-billion and reported Ebit to €5.3-billion. The group had a free cash flow (before mergers and acquisitions and customer financings) of €3.5-billion and its net cash amounted to €7.6-billion.

The group delivered 611 commercial aircraft during the course of last year. Gross commercial aircraft orders in 2021 came to 771 (the equivalent figure in 2020 had been 383), but after cancellations, net orders numbered 507 (as against 268 in 2020). Last year’s orders included the first for Airbus’ new A350F dedicated freighter aircraft, confirming the market demand for the type. The group’s commercial aircraft order backlog stood, on December 31, 2021, at 7 082.

Production of commercial aircraft was progressing according to plans that were previously announced. Regarding the A320-family, the production ramp-up was on course to achieve a monthly production rate of 65 aircraft (“rate 65”) by the northern summer of next year. The company was still assessing, in cooperation with its suppliers, the possibility of thereafter increasing production above rate 65. Meanwhile, all its production sites were being made ready to be able to produce the A321 (the largest member of the A320-family). This was a ‘de-risking’ measure by the group.

The adjusted Ebit for Airbus Helicopters last year was €535-million, up from €471-million the year before. This increase was largely impelled by support and services, the execution of programmes and a focus on costs. The rotorcraft subsidiary secured net orders for 414 helicopters in 2021. These included the first batch, of 30, H160Ms for the French armed forces. In comparison, net helicopter orders in 2020 had numbered 268.

Airbus Defence and Space recorded an adjusted Ebit of €696-million in 2021, up from €660-million in 2020. This was a reflection of cost containment measures. However, revenues fell by 2% year-on-year, largely owing to the military aircraft segment, although this was partially offset by the space segment. Eight A400M airlifter aircraft were delivered during the year.

“2021 was a year of transition, where our attention shifted from navigating the pandemic towards recovery and growth,” pointed out Airbus Group CEO Guillaume Faury. “Thanks to the resilience and efforts of our teams, customers and suppliers, we delivered remarkable full-year results. The strong financials reflect the higher number of commercial aircraft deliveries, the good performance of our Helicopters and Defence and Space businesses as well as our efforts on cost containment and competitiveness. Record net income and our efforts to strengthen the net cash position underpin our proposal to reintroduce dividend payments going forward. At the same time, we continue to invest in our strategic priorities and in the transformation of our company.”