Airbus posted a profit in the first quarter of 2021 but warned the "crisis is not over" in the aviation sector.
The aerospace giant, with major facilities in Broughton, North Wales, and Filton, near Bristol, delivered 125 planes - compared with 122 in 2020.
On that basis, the company targets to at least achieve the same deliveries as in 2020 when it handed over 566 planes.
Key points
- 125 commercial aircraft delivered in a market environment that remains uncertain
- Strong focus on cost and cash containment; progress on restructuring
- Revenues € 10.5 billion; EBIT Adjusted € 0.7 billion
- EBIT (reported) € 0.5 billion; EPS (reported) € 0.46
- Net cash position at € 5.6 billion
Gross commercial aircraft orders totalled 39 (Q1 2020: 356 aircraft) After cancellations, net commercial aircraft orders were -61 (Q1 2020: 290 aircraft)
Order backlog comprising 6,998 aircraft on 31 March 2021
What Airbus said:
"The good Q1 results mainly reflect our commercial aircraft delivery performance, cost and cash containment, progress with the restructuring plan as well as positive contributions from our helicopter and defence and space activities,” said Airbus Chief Executive Officer Guillaume Faury.
“The first quarter shows that the crisis is not yet over for our industry, and that the market remains uncertain. We are investing in innovation and in the transformation of our Company to deliver on our long-term ambitions across the portfolio.”
Outlook:
The guidance issued in February 2021 remains unchanged.
As the basis for its 2021 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services. The Company’s 2021 guidance is before M&A.
On that basis, the Company targets to at least achieve in 2021:
- Same number of commercial aircraft deliveries as in 2020;
- EBIT Adjusted of € 2 billion;
- Breakeven free cash flow before M&A and customer financing.
