Airbus SE has announced its consolidated financial outcomes for the Full-Year (FY) 2023, demonstrating comprehensive growth across its operations and setting an optimistic guidance for 2024 amidst complex market challenges.
The company’s CEO, Guillaume Faury, shared reflections on the past year’s achievements which encompassed considerable order intake across all business units and fulfilling set commitments. “In 2023 we recorded strong order intake across all our businesses and we delivered on our commitments. This was a significant achievement given the complexity of the operating environment,” Faury stated. He conveyed the company’s aspirations for further investment in its global industrial system, continued evolution in its transformation efforts, and steps towards decarbonisation. The proposed dividends, according to Faury, mirror Airbus’s robust financial performance in 2023 and its prospects for growth and stability in 2024.
The disclosed financial metrics highlighted key achievements, including the delivery of 735 commercial aircraft and generating revenues amounting to €65.4 billion in FY 2023. The company reported an EBIT Adjusted of €5.8 billion and an EBIT (reported) of €4.6 billion. Furthermore, the earnings per share (EPS) were documented at €4.80, with a calculated free cash flow (before M&A and customer financing) of €4.4 billion, culminating in net cash reserves of €10.7 billion.
The report also detailed Airbus’s commercial success with 2,319 commercial aircraft orders received, elevating the order backlog to 8,598 commercial aircraft by year-end. Airbus Helicopters and Airbus Defence and Space sectors also witnessed increased demand and order intake, contributing to the overall positive performance.
On the production front, Faury highlighted progress across various programmes. Notably, the A220 programme is on track for a production increase, and the A320 Family programme aims to reach a production rate of 75 aircraft per month by 2026. The anticipation of the first A321XLR delivery in the third quarter of 2024 was also mentioned as a key upcoming milestone for the company.
The board has proposed dividend payments reflecting confidence in Airbus’s financial health and outlook – a dividend of €1.80 per share and a special dividend of €1.00 per share for 2023 are slated for discussion at the 2024 Annual General Meeting.
Looking ahead, Airbus’s 2024 guidance is set with the expectation of no further disruptions to the global economy or its operations, aiming for approximately 800 commercial aircraft deliveries, an EBIT Adjusted of between €6.5 billion and €7.0 billion, and a Free Cash Flow before Customer Financing of around €4.0 billion.
Consolidated Airbus |
FY 2023 |
FY 2022 |
Change |
|---|---|---|---|
|
Revenues, in millions thereof defence, in millions |
65,446 11,929 |
58,763 11,491 |
+11% +4% |
|
EBIT Adjusted, in millions |
5,838 |
5,627 |
+4% |
|
EBIT (reported), in millions |
4,603 |
5,325 |
-14% |
|
Research & Development expenses, in millions |
3,257 |
3,079 |
+6% |
|
Net Income(2), in millions |
3,789 |
4,247 |
-11% |
|
Earnings Per Share |
4.80 |
5.40 |
-11% |
|
Free Cash Flow (FCF), in millions |
3,885 |
4,324 |
-10% |
|
Free Cash Flow before M&A, in millions |
3,950 |
4,534 |
-13% |
|
Free Cash Flow before M&A and Customer Financing, in millions |
4,386 |
4,680 |
-6% |
|
Dividend per share(4) |
1.80 |
1.80 |
0% |
|
Special dividend per share(4) |
1.00 |
– |
– |
|
Order intake, in millions |
186,493 |
82,521 |
+126% |
