Metropolregion Hamburg

Airbus reports Half-Year 2017 results

27.07.2017Companies and Organisations

Airbus SE reported half-year 2017 financial results on 27 July 2017 and maintained its guidance for the full year.

Order intake totaled € 37.2 billion (H1 2016: € 39.1 billion) with the order book valued at € 981 billion as of 30 June 2017 (year-end 2016: € 1,060 billion). A total of 203 net commercial aircraft orders were received (H1 2016: 183 aircraft), with the order backlog comprising 6,771 aircraft at the end of June. During June's Paris Air Show, 144 firm orders and 202 commitments were announced.

Revenues were stable at € 28.7 billion (H1 2016: € 28.8 billion) despite the perimeter changes in Defence and Space. Commercial Aircraft revenues rose three percent with deliveries of 306 aircraft (H1 2016: 298 aircraft) comprising 239 A320 Family, 30 A350 XWBs, 31 A330s and six A380s.

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 - totalled  € 1,099 million (H1 2016: € 1,679 million).

Commercial Aircraft's EBIT Adjusted was € 954 million (H1 2016: € 1,269 million), reflecting the aircraft delivery mix and phasing as well as transition pricing.

Good progress was made on the A350 industrial ramp-up with 30 deliveries compared to 12 in the first half of 2016. The A350 programme is on track to meet the monthly production rate target of 10 aircraft by the end of 2018. The level of outstanding work has improved in the industrial system and supply chain bottlenecks are improving. In the second quarter, Qatar Airways cancelled four A350 delivery slots. The focus remains on recurring cost convergence. On the A320neo programme, 59 aircraft were delivered compared to eight in the first half of 2016. The A320neo ramp-up remains challenging and customers are still experiencing a number of in-service engine issues. Engine supplier Pratt & Whitney has introduced some fixes but these improvements have not come through yet on a reliable basis under normal service conditions. Close to 200 A320neo deliveries are still targeted for 2017 but this objective is more challenging given these engine issues. Considering the current A380 order booking situation, 2019 deliveries will be adjusted to eight aircraft.

Group self-financed R&D expenses declined to € 1,288 million (H1 2016: € 1,309 million).

Net income amounted to € 1,503 million (H1 2016: € 1,761 million) after the EBIT Adjustments with earnings per share of € 1.94 (H1 2016: € 2.27).  EPS and net income included a positive impact mainly from the revaluation of financial instruments and balance sheet items. The finance result was € 66 million (H1 2016: € -148 million).

Airbus expects to deliver more than 700 commercial aircraft which depends on engine manufacturers meeting commitments.

Weitere Meldungen zum Thema