Airbus, record commercial aircraft deliveries in 2019

Cristian Hatis 4 Min Read
  • Record commercial aircraft deliveries
  • Strong underlying financial performance, FY 2019 guidance achieved
  • € -3.6 billion penalties recognised for agreements with authorities
  • A400M € -1.2 billion charge; export assumptions revised
  • Revenues € 70.5 billion, +11% YoY; EBIT Adjusted € 6.9 billion, +19% YoY
  • EBIT (reported) € 1.3 billion; loss per share (reported) € -1.75
  • 2019 dividend proposal: € 1.80 per share, +9% versus 2018

Airbus SE reported Full-Year (FY) 2019 consolidated financial results and provided guidance for 2020.

Net commercial aircraft orders increased to 768 aircraft (2018: 747 aircraft), including 32 A350 XWBs, 89 A330s and 63 A220s. At the end of 2019, the order backlog reached 7,482 commercial aircraft. Airbus Helicopters achieved a book-to-bill ratio by value above 1 in a difficult market, recording 310 net orders in the year (2018: 381 units).

This included 25 helicopters from the Super Puma family, 23 NH90s and 10 H160s. Airbus Defence and Space’s order intake by value of € 8.5 billion was supported by A400M services contracts and key contract wins in Space Systems.

Consolidated order intake in 2019 increased to € 81.2 billion (2018: € 55.5 billion) with the consolidated order book valued at € 471 billion on 31 December 2019 (end December 2018: € 460 billion).

Revenues increased to € 70.5 billion

Consolidated revenues increased to € 70.5 billion (2018: € 63.7 billion), mainly driven by the higher commercial aircraft deliveries and a favourable mix at Airbus, and to a lesser extent  the favourable exchange rate development.

A record 863 commercial aircraft were delivered (2018: 800 aircraft), comprising 48 A220s, 642 A320 Family, 53 A330s, 112 A350s and 8 A380s.

Airbus Helicopters recorded stable revenues supported by growth in services, which offset lower deliveries of 332 rotorcraft (2018: 356 units). Revenues at Airbus Defence and Space were broadly stable compared to the previous year.

Aircraft deliveries rose by 43%

On the A320 programme, NEO aircraft deliveries rose by 43% year-on-year to 551 aircraft. The ramp-up continued for the Airbus Cabin Flex (ACF) version of the A321 with almost 100 more deliveries than in 2018.

The breakeven target for the A350 was achieved in 2019. Given overall customer demand for widebody aircraft, Airbus expects A330 deliveries of approximately 40 aircraft per year beginning in 2020 and the A350 to stay between a monthly rate of 9 and 10 aircraft.

Airbus Helicopters’ EBIT Adjusted increased to € 422 million (2018: € 380 million), mainly reflecting an increased contribution from services and lower research and development costs. This was reduced by a less favourable delivery mix.

EBIT Adjusted at Airbus Defence and Space declined to € 565 million (2018: € 935 million), mainly reflecting the lower performance in a competitive Space environment and efforts to support sales campaigns. The Division is targeting a restructuring programme to address its cost structure and restore profitability to a high single digit margin.

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