Airbus, the European aerospace giant, reported strong financial results for 2023, exceeding expectations with record commercial aircraft deliveries and robust financial performance. The company also issued an optimistic outlook for 2024, aiming for further growth and profitability.
Key Highlights:
- Strong Order Intake: Airbus received 2,319 gross commercial aircraft orders in 2023, more than doubling the previous year’s figure. This translates to a net order intake of 2,094 aircraft after cancellations, representing a significant vote of confidence from airlines in the recovery of the aviation industry.
- Record Deliveries: The company delivered a record 735 commercial aircraft in 2023, exceeding its own target and demonstrating its ability to navigate supply chain challenges and ramp up production.
- Profitable Growth: Airbus reported an EBIT Adjusted of €5.8 billion, reflecting the strong performance across its commercial aircraft, helicopters, and defense and space businesses.
- Dividend Increased: The Board of Directors proposed a dividend of €1.80 per share and a special dividend of €1.00 per share, highlighting the company’s financial strength and commitment to shareholder returns.
- 2024 Outlook: Looking ahead, Airbus expects to deliver around 800 commercial aircraft in 2024, with an EBIT Adjusted between €6.5 billion and €7.0 billion and free cash flow before customer financing of around €4.0 billion.
Guillaume Faury, Airbus Chief Executive Officer, commented: “In 2023, we recorded strong order intake across all our businesses and delivered on our commitments. This was a significant achievement given the complexity of the operating environment. We will continue to invest in our global industrial system while progressing on our transformation and decarbonization journey. Our dividend proposals are a reflection of the strong 2023 financials, our growth prospects in 2024, and balance sheet strength.”
Analysts view the results favorably, citing:
- The strong order intake as a sign of sustained demand for new aircraft, particularly in the single-aisle segment.
- The record deliveries as evidence of Airbus’s ability to navigate supply chain disruptions and improve production efficiency.
- The optimistic outlook for 2024 as a reflection of the company’s confidence in the continued recovery of the aviation industry.
