Airbus has announced its financial results for the first half of 2024 (1H24) which ended on June 30, 2024. The Toulouse-headquartered aerospace giant also revealed its order and delivery summaries for the period, showing strong growth across its markets.
Airbus’ adjusted earnings before interest and tax (EBIT) fell to €1,391m ($1,502m) from €2,618m ($2,827m) in the same period in 2023. According to the company, the substantial decrease in earnings was down to charges recorded in Airbus’ Space Systems business equating to €989m ($1,068).
Meanwhile, the EBIT related to Airbus’ commercial aircraft activities decreased to €1,954m ($2,110m) from €2,256m ($2,436m) in the same period in 2023 – a drop which the company puts down to deliveries being reduced as the planemaker “invests and prepares for the future”.
Consolidated revenues increased 4% overall year-on-year to €28.8 billion ($31.1bn) against €27.7 bn ($29.9bn) in 1H23, reflected in part by the number of commercial aircraft deliveries completed during the period plus a higher volume of business being won by the Airbus Defence and Space division.
“The half-year financial performance mainly reflects significant charges in our space business. We are addressing the root causes of these issues,” said Guillaume Faury, Airbus Chief Executive Officer. “In commercial aircraft, we are focused on deliveries and preparing the next steps of the ramp-up, while addressing specific supply chain challenges and protecting the sourcing of key work packages.” -Aerotime
Airbus revenues and deliveries up but earnings down in first half of 2024
