Airbus exceeds expectations in Q1, aims to produce 75 A320s per month in 2025


PARIS (Agefi-Dow Jones)–European aerospace and defense group Airbus Group confirmed its outlook for fiscal year 2022 on Wednesday, as its financial results beat expectations in the first quarter. The aircraft manufacturer also announced that it was preparing to increase the monthly production rate of its A320 family to 75 by 2025.

“We anticipate sustained growth in demand for commercial aircraft driven by the A320 family beyond 2022,” said the group’s executive chairman, Guillaume Faury, quoted in a press release. “Therefore, we are working closely with our industrial partners to increase the production rate of the A320 Family to reach 75 aircraft per month in 2025”. Airbus must previously reach a rate of 65 planes per month by this summer.

The aircraft manufacturer also announced that the entry into service of its single-aisle A321 XLR, the aircraft with the largest range of the A320 family, “should take place in early 2024 in order to meet certification requirements”. This commissioning was initially scheduled to take place in 2023.

The European group delivered these announcements as its results generally exceeded expectations in the first quarter.

Airbus’ turnover increased 15% over one year, to 12 billion euros. The civil aeronautics division, which represents more than two-thirds of Airbus’ revenues, achieved a turnover of 8.5 billion euros, up 17%. Aircraft deliveries were higher than in the same period of 2021, at 142 units compared to 125 in the first quarter of last year.

Net profit was 1.22 billion euros in the first quarter, compared to 362 million euros a year earlier.

A key measure of the group’s profitability, adjusted operating profit (Ebit) rose 82% to 1.26 billion euros. This indicator includes a charge of 200 million euros related to the impact of international sanctions against Russia.

The group also generated free cash flow before mergers and acquisitions and customer financing of 213 million euros, compared to 1.2 billion euros in the first quarter of 2021.

Analysts on average expected revenue of €12.05 billion, adjusted Ebit of €719 million, net profit of €460 million and cash flow before M&A and customer financing of 124 million euros, according to a consensus compiled by the company.

Airbus also confirmed its outlook for 2022. The group still expects to deliver 720 aircraft, generate adjusted operating profit (Ebit) of 5.5 billion euros and generate cash flow before mergers and acquisitions and customer financing of 3.5 Billions of Euro’s.

-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: LBO

AIRBUS FINANCIAL RELEASES:

http://www.airbusgroup.com/int/en/news-media/press-release-search.html

Agefi-Dow Jones The financial newswire

Dow Jones Newswires

May 04, 2022 12:12 ET (16:12 GMT)



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