- WKN: 938914
- ISIN: NL0000235190
- Land: Niederlande
Nachricht vom 28.10.2021 | 06:29
Airbus SE: Airbus reports Nine-Month (9m) 2021 results
Airbus SE / Key word(s): Quarter Results
Ad-hoc release, 28 October 2021
- 424 commercial aircraft delivered in 9m 2021
- 9m financials reflect deliveries as well as efforts on cost containment and competitiveness
- Revenues € 35.2 billion; EBIT Adjusted € 3.4 billion
- EBIT (reported) € 3.4 billion; EPS (reported) € 3.36
- Free cash flow before M&A and customer financing € 2.3 billion
- 2021 guidance unchanged for commercial aircraft deliveries, updated for EBIT Adjusted and FCF before M&A and customer financing
Airbus SE (stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2021.
"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," said Airbus Chief Executive Officer Guillaume Faury. "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."
Consolidated revenues increased 17 percent to € 35.2 billion (9m 2020: € 30.2 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of 424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341 A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus' commercial aircraft activities increased 21 percent, largely reflecting the delivery performance compared to 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m 2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higher deliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defence and Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m 2021.
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, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses - was € 3,369 million (9m 2020: € -125 million).
The EBIT Adjusted related to Airbus' commercial aircraft activities totalled € 2,739 million (9m 2020: € -641 million), mainly driven by the operational performance linked to deliveries and efforts on cost containment and competitiveness.
The A220 production rate, which is currently at 5 aircraft a month, is expected to increase to around rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.
Airbus Helicopters' EBIT Adjusted increased to € 314 million (9m 2020: € 238 million), driven by services, programme execution and lower spending on Research & Development (R&D).
EBIT Adjusted at Airbus Defence and Space increased to € 284 million (9m 2020: € 266 million), mainly reflecting the Division's efforts on cost containment and competitiveness.
Consolidated self-financed R&D expenses totalled € 1,919 million (9m 2020: € 2,032 million).
Consolidated EBIT (reported) amounted to € 3,437 million (9m 2020: € -2,185 million), including net Adjustments of € +68 million.
These Adjustments comprised:
- € +190 million related to the A380 programme, of which € +45 million were booked in Q3;
- € -165 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation, of which € +5 million were in Q3;
- € +43 million of other Adjustments, including compliance costs, of which € -6 million were in Q3.
Consolidated free cash flow before M&A and customer financing was € 2,260 million (9m 2020: € -11,798 million), reflecting efforts on cash containment and also included a positive phasing impact from working capital. Consolidated free cash flow was € 2,308 million (9m 2020: € -12,276 million).
On 30 September 2021, the gross cash position stood at € 21.7 billion (year-end 2020: € 21.4 billion) with a consolidated net cash position of € 6.7 billion (year-end 2020: € 4.3 billion). The Company's liquidity position remains strong, standing at € 27.7 billion at the end of September 2021. Given the increase in the net cash position and the robust liquidity, a decision was taken not to renew the undrawn € 6.2 billion Supplemental Liquidity Line which matured in September. In the meantime, the maturity of the € 6 billion Revolving Syndicated Credit Facility has been extended by a year.
The Company's 2021 guidance is before M&A.
- 600 commercial aircraft deliveries;
- EBIT Adjusted of € 4.5 billion;
- Free Cash Flow before M&A and Customer Financing of € 2.5 billion.
Note to editors: Live Webcast of the Analyst Conference Call
At 08:15 CEST on 28 October 2021, you can listen to the 9m 2021 Results Analyst Conference Call with Chief Executive Officer Guillaume Faury and Chief Financial Officer Dominik Asam via the Airbus website https://www.airbus.com. The analyst call presentation can also be found on the 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.
Contacts for the media
(Amounts in Euro)
Consolidated Airbus - Third Quarter (Q3) 2021 Results
(Amounts in Euro)
Q3 2021 revenues decreased 6 percent, mainly driven by lower commercial aircraft deliveries as well as less favourable foreign exchange rates, partially offset by higher revenues at Airbus Helicopters.
EBIT (reported) / EBIT Adjusted Reconciliation
The table below reconciles EBIT (reported) with EBIT Adjusted.
1. One A330 delivered on operating lease without revenue recognition at delivery.
2. Airbus SE continues to use the term Net Income/Loss. It is identical to Profit/Loss 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.
- Changes in general economic, political or market conditions, including the cyclical nature of some of Airbus' businesses;
- Significant disruptions in air travel (including as a result of the spread of disease or terrorist attacks);
- Currency exchange rate fluctuations, in particular between the Euro and the U.S. dollar;
- The successful execution of internal performance plans, including cost reduction and productivity efforts;
- Product performance risks, as well as programme development and management risks;
- Customer, supplier and subcontractor performance or contract negotiations, including financing issues;
- Competition and consolidation in the aerospace and defence industry;
- Significant collective bargaining labour disputes;
- The outcome of political and legal processes, including the availability of government financing for certain programmes and the size of defence and space procurement budgets;
- Research and development costs in connection with new products;
- Legal, financial and governmental risks related to international transactions;
- Legal and investigatory proceedings and other economic, political and technological risks and uncertainties;
- The full impact of the COVID-19 pandemic and the resulting health and economic crisis.
As a result, Airbus SE's actual results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
|P.O. Box 32008|
|2303 DA Leiden|
|Phone:||00 800 00 02 2002|
|Fax:||+49 (0)89 607 - 26481|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1244185|
|End of Announcement||DGAP News Service|
Airbus SE: Airbus reports Nine-Month (9m) 2021 ...
Airbus SE: Airbus reports Half-Year (H1) 2021 ...
Airbus SE: Airbus provides suppliers with an u ...
Airbus SE: Airbus reports First Quarter (Q1) 2 ...
Airbus SE: Airbus reports Full-Year (FY) 2020 ...
GBC im Fokus
IGEA Pharma N.V. Realignment to CBD extraction
The goal is to become the quality and cost leader in the field of CBD in Europe. To this end, a GMP pharma compliant plant is being built in Switzerland. The supercritical CO2 extraction process is to be used to achieve the highest standard of quality. The CBD market is growing strongly and with the focus on quality leadership and pure extraction, IGEA Pharma's new business model should be able to occupy an attractive niche market. With the proprietary supercritical CO2-extraction technology, other markets such as vanilla, rose or rosemary can be developed in the medium term. Based on our DCF model, we have determined a fair value of € 1.05 (CHF 1.13) per share and assign a BUY rating.
Der AKTIONÄR News
02. Dezember 17:25 Xiaomi: Darum wird es immer teurer
02. Dezember 17:40 Cardano mit Kurssprung – kommt jetzt der Befreiungsschlag?
02. Dezember 18:02 Uber-Rivale Grab: Ein denkbar schlechter Auftakt
02. Dezember 19:02 Lufthansa: Böse Erinnerungen werden wach
02. Dezember 19:26 Alphabet: Dank Cloud Kurspotenzial von 40 Prozent
News im Fokus
Allianz SE: Neufassung der Dividendenpolitik der Allianz SE
02. Dezember 2021, 20:33
FY 2020/2021 Financial Results
16. Dezember 2021
Original-Research: CEWE Stiftung & Co. KGaA (von GSC Research GmbH): Kaufen
02. Dezember 2021