Airbus first earnings rise despite decline in commercial deliveries

(Alliance News) - Airbus SE on Wednesday confirmed year-end guidance despite a decline in first-half commercial deliveries, with earnings buoyed by the absence of a one-time charge in the Space Systems business.

Shares in the Leiden, Netherlands-based aerospace company closed down 0.3% at USD178.86 in Paris on Wednesday.

In the six months to June 30, Airbus' net income increased 85% to EUR1.53 billion from EUR825 million a year prior, or by 86% to EUR1.93 from EUR1.04 on a diluted per-share basis.

The result benefitted from the absence of EUR989 million charge in the Space Systems business incurred in the period-year period.

Revenue edged up 3% to EUR29.61 billion from EUR28.83 billion a year prior. Gross commercial aircraft orders totalled 494, up from 327 a year ago. Net order after cancellations rose to 402 from 310.

Airbus delivered 306 commercial aircraft in the period, down from 323 a year ago.

The commercial aircraft backlog was 8,754 at June 30, up from 8,726 at the end of March.

Airbus Helicopters registered 171 net orders, lower than the 233 registered in the first half of 2024. Orders were well spread across its product ranges, the company said.

At Airbus Defence and Space, order intake by value totalled EUR5.1 billion, up from EUR6.1 billion a year prior.

Chief Executive Officer Guillaume Faury commented: "The commercial performance in the first half of 2025 has been strong across the Company. Our [first half] financials reflect transformation progress in our Defence and Space division and the lower commercial aircraft deliveries compared to a year ago. We are producing aircraft in line with our plans but deliveries are backloaded as we face persistent engine supply issues on the A320 programme.

"The operating environment is complex and fast-changing. On tariffs, the recent political agreement between the EU and the US to revert to a zero-tariff approach for civil aircraft is a welcome development for our industry. Our 2025 guidance, which continues to exclude the impact of tariffs, remains unchanged."

First half consolidated free cash flow totalled minus EUR1.58 billion, compared to minus EUR559 million in the first half of 2024. FCF before customer financing was minus EUR1.61 billion, versus minus EUR529 million a year prior.

Adjusted earnings before interest and taxes were EUR2.20 billion, up 58% year-over-year from EUR1.39 billion.

For 2025, guidance remains unchanged. The company continues to expect around 820 commercial aircraft deliveries, Adjusted Ebit of about EUR7.0 billion and free cash flow before customer financing of around EUR4.5 billion.

Airbus said guidance assumes "no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations and ability to deliver products and services."

By Aidan Lane, Alliance News reporter

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