In the first half of the year, Airbus recorded a significant contraction in net income, which halved compared with the same period last year. This decline impacted one of the world's aerospace giants, underlining the challenges faced by the aerospace industry in these difficult times.
Airbus first-half performance
Airbus revealed a significant drop in its net income in the first half of 2023, despite sales growth. The main causes of this contraction include significant expenses associated with space activities and substantial investments in the future of commercial aviation.
Increase in aircraft deliveries
The company's sales rose by 4 1TP4Q to 28.8 billion euros, thanks to an increase in commercial aircraft deliveries. Compared with the same period last year, deliveries rose from 316 to 323 aircraft, with a notable breakdown:
- 28 A220
- 261 A320neo Family aircraft
- 13 A330
- 21 A350
However, helicopter deliveries fell slightly, from 145 to 124 units.
Evolution of production programs
The A220 program continues to accelerate, reaching a monthly production rate of fourteen machines by 2026, with the support of Quebec. On the other hand, the A320neo program has been slowed by difficulties in the supply chain. The objective of producing 75 units per month has been postponed to 2027. For the other models, Airbus is maintaining its ambitions: to produce four A330s per month from the end of the year, and to reach a rate of twelve A350s per month by 2028.
Orders and order books
Airbus booked gross orders for 327 aircraft, down from 1,080 the previous year, resulting in 310 net orders after cancellations. Helicopter business performance improved, with 233 net orders compared with 131 in 2023. Order backlog for the Defense & Space division remained stable at 6.1 billion euros.
Impact on financial results
The difficulties encountered in the Space division and the investments required to increase commercial aircraft production weighed on sales.Adjusted EBIT and net income. Adjusted EBIT almost halved to 1.4 billion euros from 2.6 billion euros the previous year. Net income fell from 1.5 billion euros to 825 million euros.
Concise list of main elements
| Element | Detail |
| Sales figures | 28.8 billion euros, +4% |
| Aircraft deliveries | 323 units, +7 devices |
| Adjusted EBIT | 1.4 billion euros |
| Net income | 825 million euros, -50% |
Outlook for 2023
Despite these challenges, Airbus is maintaining its forecasts for the year: the company expects to deliver 770 aircraft and achieve a Adjusted EBIT of 5.5 billion euros.
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