(News Bulletin 247) – The former EADS has delivered its forecasts for 2023, anticipating 720 aircraft deliveries, its initial target for 2022.
After a 2022 financial year marked by difficulties in its supply chain, Airbus will try to move forward this year. But his outlook is tinged with caution. The group has unveiled its projections for the 2023 financial year, and thus intends to deliver 720 planes this year, against 661 last year.
This target of 720 planes corresponds to the target the company initially set last year before reducing it and then abandoning it in December.
Airbus also plans to generate adjusted operating profit (EBIT), a key measure of the group’s profitability, of 5.5 billion euros and generate cash flow before mergers and acquisitions and customer financing of 3 billion euros.
Result above expectations
The group delivered these forecasts while its fourth quarter results proved to be above analysts’ expectations.
Over the period from October to December, Airbus saw its turnover stand at 20.64 billion euros against 17 billion in 2021. The group benefited in particular from aircraft deliveries higher than that of the same period of the previous year, with 226 units compared to 187 in the fourth quarter of 2021.
Adjusted Ebit increased by 43% to 2.15 billion euros while net profit was 1.68 billion euros, up 6%.
According to a consensus available on the company’s website, analysts expected revenue of 20.44 billion euros, adjusted Ebit of 1.947 billion euros, net profit of 1.33 billion euros and free cash generation of 1.58 billion euros.
Over the whole of 2022, Airbus saw its turnover increase by 13% to 58.73 billion euros, while its adjusted Ebit increased by 16% to 5.63 billion euros. Net profit rose 1% to 4.25 billion euros. Its rival Boeing had accused it of a net loss of nearly $ 5 billion for 2022.
Cash flow before customer financing and external growth operation stood at 4.68 billion euros compared to 3.52 billion euros in 2021.
Regarding the ramp-up of its single-aisle production, Airbus announced that it now intends to reach a production rate for A320 family aircraft, its blockbuster, of 65 units per month by the end of 2024 before reaching a rate of 75 in 2026.
The aircraft manufacturer also announced on Wednesday evening that it had chosen Thomas Toepfer to succeed Dominik Asam as chief financial officer. Thomas Toepfer is currently chief financial officer of the German chemical group Covestro, a position he has held since 2018. He will join Airbus next September while Dominik Asam will leave the company on March 3. In the meantime, the interim will be provided by Xavier Tardy, in charge of Finance for the space and military division of Airbus.
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