Airbus Se · EURONEXT:AIR
Airbus — FY2024 Earnings Presentation
38 slides from Airbus's earnings presentation, Feb 20, 2025
Slide 1: FY Results 2024
FY Results 2024 20 February 2025 - Guillaume FAURY | Chief Executive Officer Thomas TOEPFER | Chief Financial Officer
Slide 2: Safe Harbour Statement
Safe Harbour Statement 2 DISCLAIMER This presentation includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “targets”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forw
Slide 3: Company Highlights
01. Company Highlights
Slide 4: FY 2024 Key Topics
4 FY 2024 Key Topics Progressing in a complex and fast changing operating environment 766 Commercial aircraft delivered Guidance achieved € 5.4 bn EBIT Adjusted Dividend proposals: Dividend of € 2.0 per share € 4.5 bn Special dividend of € 1.0 per share FCF before Customer Financing
Slide 5: FY 2024 Commercial Positioning
5 FY 2024 Commercial Positioning Commercial Aircraft Order Book in units by Programme A330 Commercial Aircraft: 3% Good commercial A350 momentum in particular A320 83% 8% on widebody 8,658 units A220 6% Helicopters: Positive momentum in Consolidated Airbus both Civil & Military Order Book in value b
Slide 6: FY 2024 Financial Performance
6 FY 2024 Financial Performance Revenues Revenues by Division (1) R&D in € bn in % in € bn Helicopters Airbus 11% 72% 65.4 69.2 € 69.2 bn 3.3 3.3 t/o defence € 12.4 bn FY 2023 FY 2024 FY 2023 FY 2024 Defence and Space 17% (1) Breakdown based on External Revenues
Slide 7: FY 2024 Profitability
7 FY 2024 Profitability EBIT Adjusted EBIT Reported in € bn in € bn EBIT Adjustments of € - 50 m: 8.9% 7.7% 7.7% • € + 101 m $ Working Capital mismatch and 7.0% Balance Sheet revaluation • € - 121 m A400M charge 5.8 5.4 4.6 5.3 • €+ 51 m Airbus OneWeb Satellites gain • €- 40 m Airbus Beluga Transpor
Slide 8: FY 2024 Profitability
7 FY 2024 Profitability EBIT Adjusted EBIT Reported in € bn in € bn EBIT Adjustments of € - 50 m: 8.9% 7.7% 7.7% • € + 101 m $ Working Capital mismatch and 7.0% Balance Sheet revaluation • € - 121 m A400M charge 5.8 5.4 4.6 5.3 • €+ 51 m Airbus OneWeb Satellites gain • €- 40 m Airbus Beluga Transpor
Slide 9: USD Exposure Coverage
8 USD Exposure Coverage IN $ BILLION Forwards & Euro Conversion as of Dec. 2024 Forwards & Euro Conversion as of 23.2 22.7 Dec. 2023 21.9 18.0 15.7 4.5 Average blended rates(1) 2029 (€ vs. $) 2024 2025 2026 2027 2028 and beyond Forwards and Euro conversion 1.21 1.20 1.21 1.24 1.22 1.17 ( 1.21 in Dec
Slide 10: FY 2024 Cash Evolution
9 FY 2024 Cash Evolution IN € BILLION +1.3 -3.7 +0.3 -2.2 +6.6 -1.2 Free Cash Flow (1): € 4.5 bn 11.8 10.7 FCF before Customer Financing (1): € 4.5 bn [FY’23: € + 4.5 bn] (2) Net Cash Position Gross Cash Flow Change in Industrial CapEx Other FCF Shareholder Pensions Net Cash Position December 2023 f
Slide 11: Divisional Highlights
ere Divisional | Highlights — _ AIRBUS
Slide 12: Airbus
11 Airbus IN € MILLION FY 2024 FY 2023 Change Deliveries by Programme (% of units delivered) Order Intake (net) 826 2,094 -60.6% Units A330 Order Book 8,658 8,598 0.7% 4% A320 Order Intake (net) 77,413 162,571 -52.4% 79% Value Order Book 558,925 490,812 13.9% A350 7% Deliveries Units 766 735 4.2% Re
Slide 13: Airbus Helicopters
12 Airbus Helicopters IN € MILLION FY 2024 FY 2023 Change External Revenue Split Order Intake (net) 450 393 14.5% Units Order Book 893 804 11.1% Order Intake (net) 10,071 8,597 17.2% Civil Value 51% Order Book 24,064 21,525 11.8% Deliveries Units 361 346 4.3% Revenues 7,941 7,337 8.2% Defence R&D Ex
Slide 14: Airbus Defence and Space
13 Airbus Defence and Space IN € MILLION FY 2024 FY 2023 Change External Revenue Split Order Intake (net) 16,710 15,701 6.4% Order Book 46,803 42,195 10.9% Services 33% Revenues 12,082 11,495 5.1% R&D Expenses 276 275 in % of Revenues 2.3% 2.4% 0.4% EBIT Adjusted (566) 229 in % of Revenues -4.7% 2.0
Slide 15: Spirit AeroSystems – Airbus work packages
Spirit AeroSystems – Airbus work packages 14 Based on preliminary estimates and a closing assumption as of 1st of July 2025 Operations • On-site support to secure immediate operations • Define industrial integration strategy Financials • Mature financial assessment based on due diligence and amended
Slide 16: Guidance Highlights
03. Guidance Highlights
Slide 17: 2025 Guidance
16 2025 Guidance The Company targets to achieve in 2025 Around Around Around 820 € 7.0 bn € 4.5 bn Commercial aircraft EBIT Adjusted FCF before deliveries customer financing As the basis for its 2025 guidance, the Company assumes no additional disruptions to global trade or the world economy, air tr
Slide 18: Key Priorities
17 Key Priorities Continue to deliver on our commercial aircraft ramp-up Focus on profitable growth Lead the development of Successfully manage the sustainable aerospace transformation of Airbus Defence and Space Maintain strong commercial positioning across businesses
Slide 19: Appendix. FY 2024
Appendix. FY 2024
Slide 20: Dividend proposals
19 Dividend proposals (1) 2.00 1.80 1.80 1.50 (1) 1.00 33% 38% 37% 28% FY 2021 FY 2022 FY 2023 FY 2024 FY 2024 Payout Ratio Dividend policy Special dividend ▪ Ex-dividend date: Tuesday 22 April 2025 ▪ Record date: Wednesday 23 April 2025 ▪ Payment date: Thursday 24 April 2025 (1) Board proposal to b
Slide 21: Expected Average Blended Rates for Forwards and Euro Conversion
Expected Average Blended Rates for Forwards and Euro Conversion € vs. $ 20 Active exposure management 1.24 Average Blended Rates FY 2023 1.20 1.23 1.22 1.22 FY 2024 1.21 1.21 1.21 1.21 FY 2025E 1.20 1.20 1.20 1.20 1.20 1.20 1.19 1.19 1.18 1.18 1.16 Q1 Q2 Q3 Q4 2023 2024 2025E Blended rates reflect b
Slide 22: FY 2024 Detailed Income Statement and Adjustments
21 FY 2024 Detailed Income Statement and Adjustments thereof Adjustments Impact on EBIT FY 2024 Financial FY 2024 IN € MILLION Operational FX Reported Result Adjusted Defence Airbus + Defence Airbus Helicopters and Space(1) and Space(2) EBIT 5,304 5,354 (67) (84) 0 101 in % of Revenues 7.7% 7.7% Int
Slide 23: FY 2023 Detailed Income Statement and Adjustments
22 FY 2023 Detailed Income Statement and Adjustments thereof Adjustments Impact on EBIT FY 2023 Financial FY 2023 IN € MILLION Operational FX Reported Result Adjusted Defence Airbus + Defence Airbus Helicopters and Space(1) and Space(2) EBIT 4,603 5,838 (157) (30) (18) (1,030) in % of Revenues 7.0%
Slide 24: Liquidity as of 31 December 2024
23 Liquidity as of 31 December 2024 RSCF € 8.0 bn • Signed on July 5, 2022 • 2nd extension option of 1 year exercised in June 2024 and Credit Facility (RSCF) approved by all lenders: the full €8bn line is committed until July 5, 2029 • Fully committed by 38 banks • No financial covenants, no MAC cla
Slide 25: Q4 2024 Key Figures
24 Q4 2024 Key Figures IN € MILLION Q4 2024 Q4 2023 Revenues 24,716 22,886 EBIT Adjusted 2,556 2,207 EBIT 2,614 1,891 Net Income 2,424 1,457 FCF before Customer Financing 5,308 3,428 FCF 5,338 3,253 IN € MILLION Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Revenues EBIT Adjusted EBIT Airbus 17,76
Slide 26: Detailed Free Cash Flow
25 Detailed Free Cash Flow IN € MILLION FY 2024 FY 2023 Net Cash position at the beginning of the period 10,726 9,431 Gross Cash Flow from Operations (1) 6,570 5,718 Change in working capital (2) 1,266 1,204 Investments in intangible and fixed assets (net) (3,375) (2,826) & Dividends paid by compani
Slide 27: Net Cash Position
26 Net Cash Position IN € MILLION Dec. 2024 Dec. 2023 Gross Cash 26,864 25,278 Financing Liabilities (14,279) (13,591) Short-term Financing Liabilities (3,924) (3,389) Long-term Financing Liabilities (10,355) (10,202) Interest rate contracts (832) (961) Reported Net Cash 11,753 10,726
Slide 28: Customer Financing Exposure
27 Customer Financing Exposure IN € MILLION Dec. 2024 Dec. 2023 Dec. 2024 Dec. 2023 Airbus Helicopters Closing rate € 1 = $ 1.04 $ 1.11 $ 1.04 $ 1.11 Total Gross Exposure 309 312 17 19 of which off-balance sheet 2 6 2 2 Estimated value of collateral (263) (252) (17) (19) Net Exposure 46 60 0 0 Provi
Slide 29: Airbus Customer Financing
28 Airbus Customer Financing Additions Sell Down Amortization Net change Airbus Customer Financing Gross 1.0 Exposure in $ bn 0.8 0.9 0.7 0.8 0.5 0.6 0.6 0.6 0.1 0.3 0.3 0.1 0.2 0.0 0.1 (0.2) (0.2) (0.1) (0.3) (0.3) (0.4) (0.4) (0.1) (0.6) (0.5) (0.6) (0.0) (0.1) (0.7) (0.7) (0.7) (0.7) (0.7) (0.0)
Slide 30: Balance Sheet Highlights: Assets
29 Balance Sheet Highlights: Assets IN € MILLION Dec. 2024 Dec. 2023 Non-current Assets 59,781 54,870 of which Intangible & Goodwill 17,179 16,929 of which Property, plant & equipment 19,112 17,201 of which Investments & other long-term financial assets 7,510 6,947 of which Contract assets 61 26 of
Slide 31: Balance Sheet Highlights: Liabilities
30 Balance Sheet Highlights: Liabilities IN € MILLION Dec. 2024 Dec. 2023 Total Equity 19,696 17,730 of which AOCI (Accumulated Other Comprehensive Income) (3,286) (2,305) of which Non-controlling interests 90 35 Total Non-current liabilities 48,894 47,391 of which Pensions 1,555 2,405 of which Othe
Slide 32: New Capitalised Research and Development
31 New Capitalised Research and Development IN € MILLION FY 2024 FY 2023 Airbus 246 145 Helicopters 1 1 Defence and Space 203 232 Eliminations 0 0 Consolidated Airbus 450 378
Slide 33: Shareholding Structure at 31 December 2024
32 Shareholding Structure at 31 December 2024 SOGEPA 10.8% Free Float 73.7% GZBV 10.8% SEPI 4.1% Treasury Shares 0.5% 792,283,683 shares issued at 31 December 2024
Slide 34: Quarterly Revenues Breakdown (Cumulative)
33 Quarterly Revenues Breakdown (Cumulative) IN € MILLION Q1 H1 9m FY 2024 2023 2024 2023 2024 2023 2024 2023 Airbus 9,167 8,110 21,215 20,349 32,879 31,507 50,646 47,763 Helicopters 1,461 1,598 3,191 3,194 4,875 4,662 7,941 7,337 Defence and Space 2,399 2,299 4,985 4,653 7,609 7,133 12,082 11,495 E
Slide 35: Quarterly EBIT Adjusted Breakdown (Cumulative)
34 Quarterly EBIT Adjusted Breakdown (Cumulative) IN € MILLION Q1 H1 9m FY 2024 2023 2024 2023 2024 2023 2024 2023 Airbus 507 580 1,954 2,256 3,028 3,216 5,093 4,818 Helicopters 71 156 230 274 420 417 818 735 Defence and Space (9) 36 (807) 78 (661) (1) (566) 229 Eliminations 8 1 14 10 11 (1) 9 56 Co
Slide 36: Quarterly EBIT Breakdown (Cumulative)
35 Quarterly EBIT Breakdown (Cumulative) IN € MILLION Q1 H1 9m FY 2024 2023 2024 2023 2024 2023 2024 2023 Airbus 500 197 1,972 1,523 2,876 2,306 5,133 3,610 Helicopters 71 156 230 267 420 410 818 717 Defence and Space 30 36 (760) 87 (617) (3) (656) 220 Eliminations 8 1 14 10 11 (1) 9 56 Consolidated
Slide 37: FY 2024 IFRS vs. APM Cash Flow Reconciliation
36 FY 2024 IFRS vs. APM Cash Flow Reconciliation IN € BILLION Dec. 2024 Cash provided by (used for) operating activities 7.4 t/o Reimbursement from / contribution to plan assets (0.5) t/o Treasury swaps 0.0 t/o Change in other operating assets and liabilities 1.3 Gross Cash Flow from Operations 6.6
Slide 38: Glossary on Alternative Performance Measures (APM)
37 Glossary on Alternative Performance Measures (APM) This presentation also contains certain “non-GAAP financial measures”, i.e. financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measure calculated and presented in accordance