Europe-based global major aerospace and defence group Airbus has released its results for the first nine months of this year (9M23). Consolidated group revenues, at €42.56-billion, were up 12%, year-on-year (y-o-y). Earnings before interest and taxes (Ebit), adjusted, for 9M23 were €3.631-billion (4% up on last year), but Ebit reported, at €2.712-billion, were 24% down, y-o-y. Net income came to €2.332-billion (a decrease of 9% compared with 9M22). Free cash flow was €0.718-billion, 71% down, y-o-y. On September 30, the group’s net cash position was €8.315-billion, a decrease of 12% over the figure for December 31, 2022.

“We continue to make progress on our operational plan in a global environment that has become increasingly complex,” reported Airbus CEO Guillaume Faury. “The nine-month earnings reflect higher commercial deliveries, the good performance in helicopters as well 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 9M23 gross commercial aircraft (that is, airliners) orders came to 1 280, but a few cancellations resulted in a net order total of 1 241. (The respective figures for 9M22 were 856 and 647.) At the end of September, the group’s commercial aircraft order backlog stood at 7 992.

Airbus Helicopters gained 191 net orders in 9M23, as against 246 in the same period last year. These orders (9M23) were well distributed across the division’s programmes. In terms of value, Airbus Defence and Space’s orders in 9M23 came to €8.5-billion (as against €8-billion during 9M22).

Regarding Airbus’ commercial aircraft programmes, starting with the smallest family it offers, the A220, production ramp-up to the target production rate of 14 aircraft a month (“rate 14”) in 2026 is continuing. With the A320-family, ramp-up to the production target of rate 75, also in 2026, is going well. The A321XLR version (XLR = eXtra Long Range) is undergoing certification and its entry into service is expected for the second quarter of next year. The upgrading, including digitalisation, of the A320-family industrial system is continuing. As for the company’s widebody programmes, Airbus has decided to increase A350-family production to rate 10 in 2026. Production of the A330-family is still targeted for rate 4 next year.

“On the A400M [multirole military airlifter] programme, development activities continue towards achieving the revised capability roadmap,” stated the company. “Retrofit activities are progressing in close alignment with the customer. No further net material impact was recognised in the first nine months of 2023. Risks remain on the qualification of technical capabilities and associated costs, on aircraft operational reliability, on cost reductions and on securing overall volume as per the revised baseline.”