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Airbus SE (Amersterdam, the Netherlands) has reported consolidated full year (FY) 2024 financial results and provided guidance for 2025. Highlights include the delivery of 766 commercial aircraft, €69.2 billion in revenue (€5.4 billion EBID Adjusted), €4.5 billion free cash flow (FCF) before customer financing. (Note: This article gives a more in-depth look to Airbus’ FY 2024 reporting mid-January.)

“We achieved strong order intake across all businesses in 2024, with a book-to-bill well above one, confirming the solid demand for our products and services. We delivered on our 2024 guidance in what was a testing year for Airbus,” says Guillaume Faury, Airbus CEO. “We refocused our efforts on key priorities, notably the production ramp-up and the transformation of Defence and Space. We continue to pursue profitable growth and our decarbonization ambition. The 2024 financial results and the level of confidence we have in our future performance support our proposal for an increased dividend.”

Gross commercial aircraft orders totalled 878 (2023: 2,319 aircraft) with net orders of 826 aircraft after cancellations (2023: 2,094 aircraft). The order backlog amounted to 8,658 commercial aircraft at the end of December 2024. Airbus Helicopters registered 450 net orders (2023: 393 units), with a book-to-bill ratio above one both in units and value, highlighting strong demand for the division’s platforms. There was also good order intake for helicopter services. Airbus Defence and Space’s order intake by value increased to a record €16.7 billion (2023: €15.7 billion), corresponding to a book-to-bill of around 1.4. Q4 orders included 25 additional Eurofighter military aircraft for Spain.

Consolidated order intake by value decreased to €103.5 billion (2023: €186.5 billion) with the consolidated order book valued at €629 billion at the end of 2024 (year-end 2023: €554 billion). The increase in the consolidated backlog value mainly reflects the company-wide book-to-bill of above one, and the strengthening of the U.S. dollar.

Consolidated revenues increased 6% year on year to €69.2 billion (2023: €65.4 billion). A total of 766 commercial aircraft were delivered (2023: 735 aircraft), comprising 75 A220s, 602 A320 Family, 32 A330s and 57 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 6% to €50.6 billion, mainly reflecting the higher number of deliveries.

Airbus Helicopters’ revenues increased 8% to €7.9 billion, reflecting higher deliveries of 361 units (2023: 346 units), a solid performance across programmes as well as growth in services. Revenues at Airbus Defence and Space increased 5% year on year to €12.1 billion, mainly driven by the Air Power business. Seven A400M military airlifters were delivered (2023: 8 aircraft), including the first for Kazakhstan.

Consolidated EBIT Adjusted totalled €5,354 million (2023: €5,838 million). EBIT Adjusted related to Airbus’ commercial aircraft activities increased to €5,093 million (2023: €4,818 million), with the positive impact from higher deliveries being partially reduced by investments for preparing the future.

As the basis for its 2025 guidance, Airbus assumes no additional disruptions.

The A320 Family program continues to ramp up toward a rate of 75 aircraft per month in 2027. The company is now stabilizing monthly A330 production at around rate four. Specific supply chain challenges, notably with Spirit AeroSystems, are currently putting pressure on the ramp-up of the A350 and the A220. On the A350, the company continues to target rate 12 in 2028 and is adjusting the entry-into-service of the A350 freighter variant which is now expected in H2 2027. On the A220, the company continues to target a monthly production rate of 14 aircraft in 2026.

Airbus Helicopters’ EBIT Adjusted increased to €818 million (2023: €735 million), reflecting the higher deliveries, a solid performance across programs and growth in services.

EBIT Adjusted at Airbus Defence and Space was €-566 million (2023: €229 million), reflecting charges of €1.3 billion in space programs, including €0.3 billion in Q4, resulting from the completion of the in-depth technical review.

On the A400M program, an additional update of the contract estimate at completion was performed and a net charge of €121 million recorded, reflecting mainly updated assumptions regarding the new contract amendment with the launch nations and OCCAR and risk in the production plan. In light of uncertainties regarding the level of aircraft orders, Airbus continues to assess the potential impact on the program’s manufacturing activities. Risks on the qualification of technical capabilities and associated costs remain stable, with no major variation compared to 2023. 

Consolidated self-financed R&D expenses were stable at €3,250 million (2023: €3,257 million). Consolidated EBIT (reported) amounted to €5,304 million (2023: €4,603 million), including net adjustments of €-50 million.

As the basis for its 2025 guidance, Airbus assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, the company’s internal operations and its ability to deliver products and services. The guidance excludes the impact of potential new tariffs on the company’s business. Airbus’ 2025 guidance includes the impact of the integration of certain Spirit AeroSystems work packages on its EBIT adjusted and free cash flow before customer financing, based on preliminary estimates and a closing assumption as of July 1, 2025.

On that basis, the company targets to achieve in 2025:

• Around 820 commercial aircraft deliveries
• EBIT Adjusted of around €7.0 billion
• FCF before customer financing of around €4.5 billion.

Airbus has also made preliminary assumptions of the impact of the integration of certain Spirit AeroSystems work packages, including EBIT Adjusted (broadly neutral) and a mid-triple digit negative for free cash flow before customer financing; Airbus says net cash is broadly neutral as the compensation to be received from Spirit AeroSystems will offset the FCF negative impact.

Airbus visually breaks down consolidated FY 2024 and Q4 2024 results and by business segment .