Airbus has reaffirmed its goals for 2024, regardless of first-quarter results that fell below expectations.
鈥淲e delivered first quarter 2024 results against the backdrop of an operating environment that shows no sign of improvement,鈥 commented Guillaume Faury, Airbus’ Chief Executive Officer. 鈥淕eopolitical and supply chain tensions continue.鈥
Despite these challenges, Airbus has decided to increase the monthly production rate of the A350 to 12 aircraft by 2028, responding to the dynamics of the wide-body segment.
For the three-month period ending in March 2024, the group’s revenue rose by 9% year-on-year, reaching 鈧12.8 billion. The civilian aerospace division generated a revenue of 鈧9.2 billion, up 13% year-on-year. This was primarily driven by increased aircraft deliveries, totaling 142 units in the first quarter.
Adjusted operating profit (EBIT) declined by 25% in the first quarter to 鈧577 million, while net profit grew by 28% to 鈧595 million.
The group also reported a negative free cash flow, before customer financing, of 鈧1.79 billion, compared to a negative 鈧876 million in the first quarter of 2023.
This year, Airbus still aims to deliver nearly 800 aircraft and achieve an adjusted EBIT of between 鈧6.5 billion and 鈧7 billion. Concurrently, the group plans to generate a free cash flow, before customer financing, of approximately 鈧4 billion.
