Airbus reports nine-month 2017 results

Eleanor Steed
By Eleanor Steed November 1, 2017 10:57

Airbus reports nine-month 2017 results

Airbus has reported order intake of €50.8 billion for the first nine months of 2017, with the order book valued at €945 billion as of 30 September 2017. A total of 271 net commercial aircraft orders were received (9m 2016: 380 aircraft), with the order backlog comprising 6,691 aircraft at the end of September. Net helicopter orders totalled 210 units (9m 2016: 211 units), including 14 H175s in the third quarter.

“The strong backlog and a healthy market environment continue to support our commercial aircraft production ramp-up plans,” said Airbus Chief Executive Officer Tom Enders. “We confirm our outlook even though this year’s delivery schedule is extremely back-loaded, largely due to the well-known engine problems plaguing our A320neo Family.”

Revenues were stable at € 43.0 billion (9m 2016: € 42.7 billion) with commercial aircraft revenues rising four percent with deliveries of 454 aircraft (9m 2016: 462 aircraft) comprising 350 A320 Family, 50 A350 XWBs, 45 A330s and nine A380s. Helicopters’ revenues were slightly higher with deliveries of 266 units (9m 2016: 258 units).

Commercial Aircraft’s EBIT Adjusted of € 1,545 million (9m 2016: € 1,836 million) reflected the aircraft delivery mix and phasing as well as transition pricing.

The industrial ramp up on the A350 continues to make good progress, said Airbus, adding that the programme was on track to meet the monthly production target rate of 10 aircraft by the end of 2018.

Airbus stated that it is continuing to work constructively with the Export Credit Agencies (ECAs) to return to some ECA backed financing. The investigations initiated by the UK’s Serious Fraud Office (SFO) and France’s Parquet National Financier (PNF) following self-disclosure by Airbus to the UK authorities are ongoing. Airbus reiterates that it is cooperating fully with both authorities, including in respect of potential issues across Airbus’ business. The SFO and PNF investigations and any penalties potentially levied as a result could have negative consequences for Airbus, the manufacturer warns. The potential imposition of any monetary penalty or other sanction arising from the SFO and PNF investigations will depend on the ultimate factual and legal findings of the investigation, and could have a material impact on the financial statements, business and operations of Airbus. However, at this stage it is too early to determine the likelihood or extent of any such possible consequence, said Airbus.

Eleanor Steed
By Eleanor Steed November 1, 2017 10:57