Airbus expects deliver 720 commercial aircraft by 2022.

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European manufacturer Airbus on Thursday announced its consolidated financial results for the 2021 financial year and reported its forecast for 2022.

“2021 was a year of transition in which, after coping with the pandemic, we turned our attention to recovery and growth. Thanks to the resilience and efforts of our teams, customers and suppliers, we delivered excellent results for the year,” said Guillaume Faury, Chief Executive Officer of Airbus.

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“The strong financial results reflect higher commercial aircraft deliveries, the strong performance of our Helicopters and Defence and Space businesses, as well as our competitiveness and cost containment initiatives. Record net income and our efforts to strengthen our net cash position support our proposal to reintroduce dividend payments in the future. In parallel, we continue to invest in our strategic priorities and in the transformation of our company,” added Faury.

Gross commercial aircraft orders amounted to 771 (2020: 383 aircraft) and net orders to 507 aircraft after cancellations (2020: 268 aircraft). These include the first orders for the A350 freighter version, confirming customer demand for this new program. The order backlog reached 7,082 commercial aircraft at December 31, 2021. Airbus Helicopters recorded 414 net orders (2020: 268 units), achieving a contract-to-sales ratio for the period clearly above 1 in both units and value. These include 52 H160 helicopters, 30 of which constitute the first batch of the H160M military version of the joint French light helicopter program. Orders received at Airbus Defence and Space increased to €13.7 billion (2020: €11.9 billion) in value, representing a contract-to-sales ratio for the period of around 1.3. These figures include key orders in the Military Aircraft business, such as the in-service support of the German and Spanish Eurofighter fleets, as well as the good export performance of the C295, A330 MRTT and the A400M transport aircraft.

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The value of consolidated orders received increased to €62.0 billion (2020: €33.3 billion) and the consolidated order backlog amounted to €398 billion as of December 31, 2021 (year-end 2020: €373 billion). This increase in the value of the order backlog mainly reflected the strengthening of the U.S. dollar.

Consolidated revenues increased 4% year-on-year to € 52.1 billion (2020: € 49.9 billion), primarily reflecting higher commercial aircraft deliveries, partially offset by less favorable exchange rates. A total of 611 commercial aircraft were delivered (2020: 566 aircraft) comprising 50 A220 aircraft, 483 A320 family aircraft, 18 A330(1) aircraft, 55 A350 aircraft and 5 A380 aircraft. Revenues generated by Airbus’ commercial aircraft activities increased 6%, largely reflecting higher deliveries than in 2020. Airbus Helicopters delivered 338 units (2020: 300 units), including the first H160, and revenues increased by 4% reflecting growth in services and higher deliveries. Airbus Defence and Space revenues decreased by 2% mainly due to Military Aircraft, partly offset by Space Systems. Eight A400M aircraft were delivered in 2021.

Commercial aircraft production progressed according to previously announced plans within a complex environment. On the A320 Family in particular, the production ramp-up is progressing to reach a rate of 65 in the summer of 2023, and the company continues to prepare all assembly plants to be ready for the A321, thereby reducing potential risks. A320 family production cadences from 2023 onwards remain under evaluation and the company has initiated discussions with suppliers to allow a rate increase above 65.

Perspectives

The company assumes as a basis for its 2022 forecasts that there will be no further disruption to the global economy, air traffic, the company’s internal operations or its ability to deliver products and services.

Airbus’ 2022 forecasts refer to figures before mergers and acquisitions.

On this basis, the company aims to achieve by 2022: Delivery of 720 commercial aircraft; Adjusted EBIT of 5.5 billion euros; Free cash flow before M&A and customer financing of 3.5 billion euros.