Airbus achieves a record profit of 4,247 million in 2022, 1% more

Proposes a dividend of 1.

Airbus achieves a record profit of 4,247 million in 2022, 1% more

Proposes a dividend of 1.8 euros per share


Airbus registered a net profit of 4,247 million euros in 2022, just 1% more than that registered a previous year but a record in its history, and has delivered a total of 661 commercial aircraft, 8.2% more than in 2021 but still below the 720 deliveries that were set as a goal at the beginning of the year, as reported by the group on Thursday.

The net operating result (Ebit) reported in 2022 was 5,325 million euros, with little change compared to 5,342 million the previous year. This result is negatively affected by an adjustment of 302 million euros related to the A400M program, the A380 program and the updates in the organization of infrastructures in France and Germany.

Revenues reached 58,763 million, 13% more than in 2021. Consolidated free cash flow was 4,324 million euros, 1% above the previous year, the same growth as the earnings per share, which stands at 5.4 euro.

The 2021 dividend, of 1.5 euros per share and 1,200 million in total, was paid in the second quarter of 2022, while pension contributions amounted to 600,000 euros during the year. As of December 31, the number of company employees was 134,267, 6% more.

The gross cash position at the end of 2022 stood at 23.6 billion euros (3.9%), with a consolidated net cash position of 9.4 billion euros (22%). The value of the order book at the end of the year was 449,241 million euros (13%).

Airbus CEO Guillaume Faury stressed that the industry has continued its recovery throughout 2022 and that the company has posted "solid financial results" despite an "adverse operating environment that has prevented the supply chain from recover at the expected rate.

The company has adjusted its operations to this environment, with commercial aircraft deliveries lower than planned and the company "is adjusting its production to match supply," Faury added in a statement.

Looking ahead to 2023, the manager has indicated that Airbus will focus on the long-term transformation of industrial activities. In addition, the "solid" financial evolution of the company throughout 2022 and the "confidence in the future" have led the company to propose a higher dividend this year, of 1.8 euros per share.

Looking ahead to the upcoming financial year, Airbus expects no further disruption to the global economy, air traffic or supply chain. For this reason, it estimates that the adjusted Ebit could be around 6,000 million euros in 2023, with a free cash flow before mergers and acquisitions of 3,000 million euros. In addition, the delivery of 720 commercial aircraft is proposed again throughout this year.

Gross commercial aircraft orders increased to 1,078 aircraft in 2022, up 39% from 771 in 2021, and net orders rise to 820 aircraft after cancellations, 61.7% more than the previous year. The total order book reached 7,239 commercial aircraft at the end of the year.

Adjusted Ebit corresponding to commercial aircraft activities increased to 4,600 million euros, 29% more, a growth that responds to a greater number of deliveries (661).

Looking ahead, the company is reinforcing the A320 Family program by matching the increase in production with suppliers. The goal is to reach the monthly production rate of 65 aircraft by the end of 2024 and 75 in 2026. On the other hand, the entry into service of the A321XLR is scheduled for the second quarter of 2024.

As for the A330, its monthly production rate increased to 3 by the end of 2022 and the company has set a target of reaching 4 by 2024. The A350 is currently being produced at a rate of 6 aircraft, but the company expects reach 9 by the end of 2025, in line with the increase in demand for widebody aircraft.

The Airbus Defense and Space division registered an adjusted Ebit of 384 million euros, 45% below the result of 2021. The company attributes this decrease to the loss of two Pleiades Neo satellites in December and to the delays in the Ariane 6 launcher , in addition to inflation.

However, these effects were offset by higher volume in Military Aircraft, the growth of the Eurodrone and the positive effect of retirement obligations.

Airbus continued to work to meet the A400M program roadmap. In 2022, an update of the estimates for the completion of the contract was made, which included a charge of 500,000 euros that includes assumptions such as inflation.

The division obtained 13,660 orders in 2022, without changes compared to the previous year, and its total order book amounted to 38,426 at the end of the year, 6% more, valued at 47,242 million euros (10%).

As for Airbus Helicopters, its adjusted Ebit for the year increased by 19%, to 639 million euros, with 9,338 orders received (9%) and a total order book of 20,774 (16%).

The company registered a net profit of 1,679 million euros in the fourth quarter (6%), with a declared Ebit of 1,773 million euros, 7% less.

Net income for the fourth quarter increased by 21%, to 20,644 million euros, of which 14,774 million came from the commercial division.

The Helicopters division earned 2,533 million euros (7%) and the Defense and Space division reached 3,666 million, 11% more than in the same period of the previous year.