Airbus SE reported consolidated Full-Year 2021 financial results and guided for 2022. The tendency is to see 2021 as the year of transition from navigating the pandemic towards recovery and growth.
Airbus, gross commercial aircraft orders totalled 771 (2020: 383 aircraft) with net orders of 507 aircraft after cancellations (2020: 268 aircraft). Included were the first A350 freighter orders, confirming customer demand for this new programme. The order backlog was 7,082 commercial aircraft on 31 December 2021 (end 2020: 7,184 aircraft). Airbus Helicopters booked 414 net orders (2020: 268 units), achieving a book-to-bill ratio well above one both in terms of units and in value. These included 52 H160s of which 30 were the first batch of H160M military versions for France’s Joint Light Helicopter programme. Airbus Defence and Space’s order intake by value increased to € 13.7 billion (2020: € 11.9 billion), representing a book-to-bill ratio of around 1.3. Included were key orders in the Military Aircraft business such as the in-service support of the German and Spanish Eurofighter fleets as well as good export momentum for the C295, A330 MRTT and A400M airlifter.
Consolidated order intake by value increased to € 62.0 billion (2020: € 33.3 billion) with the consolidated order book valued at € 398 billion on 31 December 2021 (year-end 2020: € 373 billion). The increase in the backlog value mainly reflected the strengthening US dollar.
Consolidated revenues increased 4 per cent to € 52.1 billion (2020: € 49.9 billion), mainly reflecting the higher number of commercial aircraft deliveries, partially offset by less favourable foreign exchange rates. A total of 611 commercial aircraft were delivered (2020: 566 aircraft), comprising 50 A220s, 483 A320 Family, 18 A330s(1), 55 A350s and 5 A380s. Revenues generated by Airbus’ commercial aircraft activities increased 6 per cent, largely reflecting the higher deliveries compared to 2020. Airbus Helicopters delivered 338 units (2020: 300 units), including the first H160, with revenues rising 4 per cent reflecting growth in services and the higher deliveries. Revenues at Airbus Defence and Space decreased by 2 per cent, mainly driven by Military Aircraft, partially offset by Space Systems. Eight A400M aircraft were delivered in 2021.
Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – was € 4,865 million (2020: € 1,706 million).
The EBIT Adjusted related to Airbus’ commercial aircraft activities increased to € 3,570 million (2020: € 618 million), mainly driven by the delivery performance and efforts on cost containment and competitiveness.
Airbus Chief Executive Officer Guillaume Faury commented, “2021 was a year of transition, where our attention shifted from navigating the pandemic towards recovery and growth. Thanks to the resilience and efforts of our teams, customers and suppliers, we delivered remarkable full-year results” and added, “The strong financials reflect the higher number of commercial aircraft deliveries, the good performance of our Helicopters and Defence and Space businesses as well as our efforts on cost containment and competitiveness. Record net income and our efforts to strengthen the net cash position underpin our proposal to reintroduce dividend payments going forward. At the same time, we continue to invest in our strategic priorities and in the transformation of our company.”
The Board of Directors will propose the payment of a 2021 dividend of € 1.50 per share to the 2022 Annual General Meeting. The payment date is 21 April 2022.
