European aircraft manufacturer Airbus has revealed significantly improved financial results in the third quarter of 2024, despite difficulties in its supply chain. With a turnover of 15.7 billion euros and a 22% increase in its net profit, the group confirms its objectives for the current year and strengthens its production strategy.
An increasing performance supported by civil aeronautics
Airbus revealed a turnover of 15.7 billion euros for the third quarter of 2024, an increase of 5% compared to the previous year, thanks in particular to the performance of its civil aeronautics division. This generated 11.67 billion euros, benefiting from the increase in aircraft deliveries which reached 174 aircraft over the period compared to 172 a year earlier. The group's net profit thus amounts to 983 million euros, an increase of 22%.
These results come after a first half marked by a provision of almost a billion euros in the space branch, which had temporarily reduced the company's profits. Guillaume Faury, CEO of Airbus, highlighted the “ high demand » for the group's products, but recalled the complexities and challenges encountered in the supply chain, accentuated by an uncertain geopolitical context. Despite these difficulties, Airbus maintains its ambition to deliver 770 aircraft by the end of 2024.
Adjusted operating profit also recorded a clear increase, reaching 1.41 billion euros, an increase of 39% compared to the previous quarter. This key profitability measure, well above analysts' expectations, underlines the group's ability to adjust its operations in the face of production uncertainties. The group, however, recorded a negative cash burn of €316 million for the quarter, due to investments required to meet growing demand.
Airbus consolidates its leadership and prepares its succession
Amid positive results, Airbus has confirmed it will target a monthly production rate of 75 aircraft for its A320neo range by 2027a strategic objective to meet the growing global demand for these single-aisle devices. This range of single-aisle aircraft remains a central pillar of Airbus' commercial strategy.
In addition, the group announced a change at the head of its commercial aviation division. Christian Scherer, in office since January, will be replaced by Lars Wagner, current manager of the German engine manufacturer MTU Aero Engines, who will take office at the end of 2025. This replacement, for which Airbus has not provided explanations, is part of a dynamic strengthening of management teams in order to maintain focus on ambitious production objectives.
Despite the uncertainties in the market and the increased tax pressure in France, Airbus anticipates a tax impact of around 300 million euros for 2024, an impact which should be halved in 2025. This tax increase is currently the subject of discussions and could affect the future profitability of the group.
