Accounts on the swing for Airbus, all the details
What emerges from the Airbus quarterly report
Quarterly in chiaroscuro for Airbus.
The European aviation manufacturer reported a 19% decline in third-quarter operating profit to € 666 million while revenues fell 6% to € 10.518 billion.
However, the company has revised its financial targets for the whole year upwards, also confirming the target of 600 airliners in 2021.
For CEO Guillaume Faury, the recovery towards pre-crisis production levels is underway. “The results for the first nine months of the year reflect the good performance of the entire company, as well as the attention paid to cost reduction and competitiveness”, underlined Faury.
All the details on the Airbus quarterly report.
REVENUES AND PROFIT
The French aeronautics and defense group released quarterly results for the third quarter on Thursday morning.
Airbus reported a 19% decline in third-quarter operating profit to € 666 million while revenues fell 6% to € 10.518 billion.
ANALYSTS 'ESTIMATES BEATEN
Therefore, analysts' expectations are beaten. The latter estimated on average a quarterly operating profit of 623 million euros on a turnover of 10.651 billion, according to a consensus compiled by the company.
REVIEW THE GUIDANCE ON 2021 PROFITS
In addition, Airbus now estimates full-year operating profit of € 4.5 billion and cash flow of € 2.5 billion, up from previous targets of € 4 billion and € 2 billion, respectively.
PROCUREMENT PROBLEMS UNDER CONTROL
“We are now accelerating and we see all the difficulties of moving from some kind of hibernation and returning to business in a world where many commodities and sectors are rising again,” Faury told reporters.
Airbus added that it was facing some problems getting parts on time, leading to a review of the aircraft's production plan, but none of these seem systematic.
COMMERCIAL AIRCRAFT DRIVE BUSINESS
Sales of civilian aircraft continue to drive the results, with 424 aircraft delivered in nine months (versus Boeing's 241), Les Echos points out. However, all branches of the group – civil aircraft, helicopters, defense and space – contribute to the profits. This should allow Airbus to close the year on a positive note, according to the French daily.
The civil aeronautics division, which accounts for more than three-quarters of the group's revenues, achieved revenues of € 6.8 billion in the third quarter, down 12%, while Adjusted EBIT fell 33% to 448 million. of Euro. Aircraft deliveries totaled 127 units in the third quarter, up from 145 the previous year.
PRODUCTION OBJECTIVE
Finally, Airbus rounded its main A320 family production target to 65 per month by summer 2023.
Airbus sees a rebound in aviation, especially in the medium-haul A320 category where it competes with the Boeing 737. Airbus said it will increase production of the A330 from two per month to nearly three at the end of 2022. It reiterated that it will increase production. of the new A350 five to six per month, but has delayed this transition to early 2023 from autumn 2022.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/conti-in-altalena-per-airbus-tutti-i-dettagli/ on Thu, 28 Oct 2021 13:30:31 +0000.