- WKN: 938914
- ISIN: NL0000235190
- Land: Niederlande
Nachricht vom 30.04.2019 | 06:29
Airbus SE: Airbus reports First Quarter (Q1) 2019 results
Airbus SE / Key word(s): Quarter Results
Ad-hoc release, 30 April 2019
Airbus reports First Quarter (Q1) 2019 results
Airbus SE (stock exchange symbol: AIR) reported First Quarter (Q1) 2019 consolidated financial results(1) and maintained its guidance for the full-year.
"The first quarter underlying financials mainly reflect our commercial aircraft ramp-up and delivery phasing," said Airbus Chief Executive Officer Guillaume Faury. "The commercial aircraft market remains robust and we continue to see good prospects in the helicopters and defence and space businesses. The new management team is in place and focused on delivering on our commitments."
Gross commercial aircraft orders totalled 62 (Q1 2018: 68 aircraft) and included
Consolidated revenues increased to EUR 12.5 billion (Q1 2018: EUR 10.1 billion), mainly reflecting the higher commercial aircraft deliveries as the production ramp-up continued. At Airbus, a total of 162 commercial aircraft were delivered (Q1 2018: 121 aircraft), comprising 8 A220s, 126 A320 Family, 5 A330s, 22 A350s and 1 A380. Airbus Helicopters delivered 46 units
Consolidated EBIT Adjusted - an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructurings or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses - increased strongly to EUR 549 million (Q1 2018: EUR 14 million), driven by Airbus.
Airbus' EBIT Adjusted improved to EUR 536 million (Q1 2018: EUR -41 million), mainly reflecting the A320neo ramp-up and premium as well as further progress on the A350 financial performance.
A total of 96 A320neo Family aircraft were delivered in the quarter. The ramp-up of the Airbus Cabin Flex version of the A321 continued in Q1 but remains challenging. Airbus is working to improve execution in its internal industrial systems and monitoring engine performance. The overall A320 Family programme is on track to reach 60 aircraft per month by mid-2019 and preparing for rate 63 in 2021. On the A330 programme, 5 aircraft were delivered in the first quarter, including 3 NEOs. A330neo deliveries continue to ramp-up and Airbus is working closely with its engine partner and suppliers to deliver in line with customer commitments. The flight test campaign of the A330-800 variant is progressing.
Airbus Helicopters' EBIT Adjusted totalled EUR 15 million (Q1 2018: EUR -3 million), reflecting lower deliveries and higher volume in services.
Airbus Defence and Space's EBIT Adjusted of EUR 101 million (Q1 2018: EUR 112 million) reflected the Division's overall stable business performance.
One A400M military transport aircraft was delivered in the first quarter, bringing the in-service fleet to 75 aircraft. Development activities continued as agreed in the revised capability roadmap, with certification flights successfully completed for the Cargo Hold Tanks refuelling unit in the first quarter. A400M retrofit activities are progressing in line with the customer agreed plan. The approval process of the Contract Amendment is progressing.
Consolidated self-financed R&D expenses totalled EUR 654 million (Q1 2018: EUR 616 million).
Consolidated EBIT (reported) amounted to EUR 181 million (Q1 2018: EUR 199 million), including Adjustments totalling a net EUR -368 million. These Adjustments mainly comprised:
Consolidated free cash flow before M&A and customer financing of EUR -4,341 million
On 1 January 2019, the Company adopted the IFRS 16 'Leases' accounting standard, whereby most operating leases must now be recorded on the balance sheet.
The 2019 earnings and Free Cash Flow guidance is before M&A.
Contacts for the media:
Note to editors: Live Webcast of the Analyst Conference Call
At 08:00 CEST on 30 April, you can listen to the Q1 2019 Results Analyst Conference Call with Chief Executive Officer Guillaume Faury and Chief Financial Officer Dominik Asam via www.airbus.com. The analyst call presentation can also be found on the company website. A recording will be made available in due course. For a reconciliation of Airbus' KPIs to "reported IFRS" please refer to the analyst presentation.
EBIT (reported) / EBIT Adjusted Reconciliation
The table below reconciles EBIT (reported) with EBIT Adjusted.
1) Q1 2019 figures include the A220 programme, which was consolidated into Airbus on 1 July 2018.
2) Airbus SE continues to use the term Net Income. It is identical to Profit for the period attributable to equity owners of the parent as defined by IFRS Rules.
Safe Harbour Statement:
This press release includes forward-looking statements. Words such as "anticipates", "believes", "estimates", "expects", "intends", "plans", "projects", "may" and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements made about strategy, ramp-up and delivery schedules, introduction of new products and services and market expectations, as well as statements regarding future performance and outlook.
These factors include but are not limited to:
As a result, Airbus SE's actual results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
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|End of Announcement||DGAP News Service|
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