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Airbus SE has announced its consolidated annual results for 2024 and provided positive guidance for 2025. Despite challenging conditions, the company achieved impressive order intake and increased sales by 6%, underpinning confidence in its future development.
Airbus records strong orders and incoming orders
Airbus reported that consolidated order intake by value fell to 103.5 billion euros in 2024, compared to 186.5 billion euros in 2023. Net commercial aircraft orders reached 826 units, down from 2,094 units in the previous year. Nevertheless, the order backlog at the end of the year was 8,658 aircraft, reflecting continued demand for Airbus products.
Sales growth in all business areas
Airbus’ consolidated sales rose 6% to 69.2 billion euros. The delivery of 766 commercial aircraft contributed to the positive result with sales of 50.6 billion euros. The helicopter sector also reported 8% revenue growth thanks to higher deliveries and strong program performance. Airbus Defense and Space achieved a 5% increase in sales and delivered seven A400M military transport aircraft.
Adjustments and challenges
Despite an increase in EBIT Adjusted for commercial aircraft to 5,093 million euros, supply chain challenges remain, particularly at Spirit AeroSystems. Airbus unveiled plans to increase production capacity for key programs such as the A320 program, which is expected to reach 75 aircraft per month by 2027. Adjustments to the A350 and A220 program are necessary due to delivery bottlenecks.
Future-oriented strategy
Airbus reiterated its commitment to sustainable growth and decarbonization. The strategy includes stabilizing A330 production and introducing the A350 freighter model in the second half of 2027. Despite the challenges, the targets for the A220 and A350 programs have been adjusted to ensure future competitiveness.
Airbus SE is a global leader in the aerospace sector, characterized by innovation and technical excellence. With a strong global presence, Airbus is committed to sustainable solutions and future-oriented technologies to meet today’s aviation needs and push the boundaries of aerospace.
Airbus announces impressive financial figures
Airbus has released its 2024 financial results, showing robust performance across all business areas. Despite challenges such as the financial impact on the A400M program and the discontinuation of the Beluga transport business, the company remains stable with increased EBIT and free cash flow.
Financial returns at a glance
Airbus informs that the adjusted EBIT in the Defense and Space segment was -566 million euros, which is due to significant burdens in the space programs. Consolidated R&D expenditure remained stable and was reported at 3,250 million euros. In addition, consolidated EBIT (reported) increased to 5,304 million euros, driven by specific adjustments and the positive influence of the dollar currency.
A400M and other challenges
In the A400M program, Airbus made an adjustment to the contract estimates, which resulted in a net charge of 121 million euros. The company emphasizes that despite the uncertainties in the order backlog, the risks in technical capabilities have remained stable. The end of the Beluga Transport company was also announced in the reporting year, which was reflected in the books with a loss of 40 million euros.
Positive result and dividend plans
The consolidated net result was reported at 4,232 million euros, an increase compared to the previous year. Earnings per share also increased to 5.36 euros. Airbus announces that it will propose to the board an ordinary dividend of 2.00 euros per share and a special dividend of 1.00 euros, which will be confirmed at the 2025 general meeting.
Outlook and strategic planning
Airbus plans to deliver around 820 commercial aircraft in 2025 and is aiming for an adjusted EBIT of around 7.0 billion euros. The company expects there will be no further disruptions to global trade or the global economy. The strategic integration of certain Spirit AeroSystems work packages could have a neutral impact on adjusted EBIT, but a mid-three-digit negative impact on free cash flow before customer financing.
Airbus, headquartered in Europe, is a leader in the aerospace industry and known for its innovative projects and strong financial performance. The company strives to reach new heights in aviation technology while strategically relying on international collaboration and pursuing sustainable growth objectives.
Airbus Consolidated Full Year (FY) 2024 Results
(Amounts in Euros)
| Consolidated Airbus | FY 2024 | FY 2023 | Change |
| Revenues, in millions of which defense, in millions | 69,230 12,361 | 65,446 11,929 | +6% +4% |
| EBIT adjusted, in millions | 5,354 | 5,838 | -8% |
| EBIT (reported), in millions | 5,304 | 4,603 | +15% |
| Research and development costs, in millions | 3,250 | 3,257 | 0% |
| Net income (1), in millions | 4,232 | 3,789 | +12% |
| Earnings per share | 5.36 | 4.80 | +12% |
| Free cash flow (FCF), in millions | 4,461 | 4,096 | +9% |
| Free cash flow before customer financing, in millions | 4,463 | 4,532 | -2% |
| Dividend per share (2) | 2.00 | 1.80 | +11% |
| Special dividend per share (2) | 1.00 | 1.00 | 0% |
| Order intake, in millions | 103,509 | 186,493 | -44% |
| Consolidated Airbus | 31 Dec. 2024 | 31 Dec. 2023 | Change |
| Order backlog in millions of euros, of which defense in millions of euros | 628,917 55,385 | 553,893 52,340 | +14% +6% |
| Net cash position in millions of euros | 11,753 | 10,726 | +10% |
| Number of employees | 156,921 | 147,893 | +6% |
Footnotes can be found at the end of the communication.
| By Business Segment | Revenue | EBIT (reported) | ||||
| (Amounts in millions of Euros) | FY 2024 | FY 2023 | Change | FY 2024 | FY 2023 | Change |
| Airbus | 50,646 | 47,763 | +6% | 5,133 | 3,610 | +42% |
| Airbus Helicopters | 7,941 | 7,337 | +8% | 818 | 717 | +14% |
| Airbus Defense and Space | 12,082 | 11,495 | +5% | -656 | 220 | – |
| Eliminations | -1,439 | -1,149 | – | 9 | 56 | -84% |
| Total | 69,230 | 65,446 | +6% | 5,304 | 4,603 | +15% |
| By Business Segment | EBIT adjusted | ||
|---|---|---|---|
| (Amounts in millions of Euros) | FY 2024 | FY 2023 | Change |
| Airbus | 5,093 | 4,818 | +6% |
| Airbus Helicopters | 818 | 735 | +11% |
| Airbus Defense and Space | -566 | 229 | – |
| Eliminations | 9 | 56 | -84% |
| Total | 5,354 | 5,838 | -8% |
| By Business Segment | Order intake (net) | Order Book | ||||
| FY 2024 | FY 2023 | Change | 31 Dec. 2024 | 31 Dec. 2023 | Change | |
| Airbus, in units | 826 | 2,094 | -61% | 8,658 | 8,598 | +1% |
| Airbus, in million euros | 77,413 | 162,571 | -52% | 558,925 | 490,812 | +14% |
| Airbus Helicopters, in units | 450 | 393 | +15% | 893 | 804 | +11% |
| Airbus Helicopters, in million euros | 10,071 | 8,597 | +17% | 24,064 | 21,525 | +12% |
| Airbus Defence and Space, in millions of Euros | 16,710 | 15,701 | +6% | 46,803 | 42,195 | +11% |
Airbus fourth quarter (Q4) 2024 consolidated results
(Amounts in Euros)
| Consolidated Airbus | Q4 2024 | Q4 2023 | Change | |||
| Revenues, in millions | 24,716 | 22,886 | +8% | |||
| EBIT adjusted, in millions | 2,556 | 2,207 | +16% | |||
| EBIT (reported), in millions | 2,614 | 1,891 | +38% | |||
| Net income (1), in millions | 2,424 | 1,457 | +66% | |||
| Earnings per share | 3.07 | 1.85 | +66% | |||
| By Business Segment | Revenue | EBIT (reported) | ||||
| (Amounts in millions Euro) | Q4 2024 | Q4 2023 | Change | Q4 2024 | Q4 2023 | Change |
| Airbus | 17,767 | 16,256 | +9% | 2,257 | 1,304 | +73% |
| Airbus Helicopters | 3,066 | 2,675 | +15% | 398 | 307 | +30% |
| Airbus Defense and Space | 4,473 | 4,362 | +3% | -39 | 223 | – |
| Eliminations | -590 | -407 | – | -2 | 57 | – |
| Total | 24,716 | 22,886 | +8% | 2,614 | 1,891 | +38% |
| By Business Segment | EBIT adjusted | ||
| (Amounts in millions of Euros) | Q4 2024 | Q4 2023 | Change |
| Airbus | 2,065 | 1,602 | +29% |
| Airbus Helicopters | 398 | 318 | +25% |
| Airbus Defense and Space | 95 | 230 | -59% |
| Eliminations | -2 | 57 | – |
| Total | 2,556 | 2,207 | +16% |
Footnotes can be found at the end of the communication.
Revenue increased 8 percent in the fourth quarter of 2024, primarily due to higher commercial aircraft and helicopter deliveries and higher contribution from Airbus Defense and Space.
Adjusted EBIT in the fourth quarter of 2024 increased 16%, primarily due to increased commercial aircraft deliveries and lower R&D spending, as well as good performance across all programs and services at Airbus Helicopters. It also reflects pressures recorded in space programs, while the fourth quarter of 2023 was also impacted by pressures in space programs, although to a lesser extent.
The reported EBIT in the fourth quarter of 2024 of 2,614 million euros included net adjustments of +58 million euros. Net adjustments amounted to -316 million euros in the fourth quarter of 2023 and were mainly related to the dollar working capital mismatch and the revaluation of the balance sheet.
The net profit(1) in the fourth quarter of 2024 of 2,424 million euros mainly reflects EBIT (reported), +213 million euros from financial results and -420 million euros from income tax.
EBIT (reported) / EBIT-adjusted reconciliation
The following table reconciles EBIT (reported) with adjusted EBIT.
| Consolidated Airbus (Amounts in millions of Euros) | FY 2024 |
|---|---|
| EBIT (reported) | 5,304 |
| thereof: | |
| US dollar working capital mismatch and balance sheet revaluation | +101 |
| A400M charge | -121 |
| Airbus OneWeb Satellites gain | +51 |
| Airbus Beluga Transport termination | -40 |
| Other | -41 |
| EBIT adjusted | 5,354 |
Glossary
| KPI | DEFINITION |
| EBIT | The company continues to use the term EBIT (Earnings before Interest and Taxes). It is identical to profit before financial costs and income taxes within the meaning of the IFRS rules. |
| Adjustment | Adjustment, an alternative performance measure, is a term used by the Company to include material charges or gains caused by movements in provisions related to programs, restructuring or foreign exchange impacts, as well as capital gains/losses from divestitures and acquisitions of businesses. |
| EBIT adjusted | The Company uses an alternative performance measure, Adjusted EBIT, as a key indicator to capture underlying operating margin by excluding material charges or gains caused by movements in provisions related to programs, restructuring or foreign exchange impacts, as well as capital gains/losses from divestitures and acquisitions of businesses. |
| EPS adjusted | Adjusted EPS is an alternative performance measure to reported basic earnings per share, with net income as the numerator including adjustments. For voting information, see the analyst presentation. |
| Gross cash position | The Company defines its consolidated gross cash balance as the sum of (i) cash and cash equivalents and (ii) securities (all as presented on the Consolidated Balance Sheets). |
| Net cash position | The Company defines its consolidated net liquidity as the sum of (i) cash and cash equivalents and (ii) securities, less (iii) financing liabilities, plus or minus (iiii) interest contracts related to fair value hedges (all as reflected in the Consolidated Balance Sheets). |
| Free cash flow (FCF) | An alternative performance indicator and key indicator that allows the company to measure the amount of cash flow generated by its operations. The Company defines free cash flow as the sum of (i) cash from operations and (ii) investments in intangible assets and property, plant and equipment (net) and dividends paid by equity-accounted entities, less (iii) contributions to plan assets of pension plans, (iv) realized foreign exchange results from treasury swaps and (v) cash changes from consolidation changes. |
| FCF before customer financing | FCF before customer financing refers to free cash flow adjusted for cash flow related to aircraft financing activities. It is an alternative performance measure and indicator that the company uses in its financial forecasts. |
Footnotes:
1) Airbus SE continues to use the term net income/loss. It is identical to the profit/loss for the period attributable to the shareholders of the parent company as defined in the IFRS rules.
2) Proposal for the general meeting on April 15, 2025.
