Airbus Se · EURONEXT:AIR
Airbus — Investor Day (September 2022)
14 slides from Airbus's investor day presentation, Sep 23, 2022
Slide 1: Capital Market Day
Capital Market Day 23 September 2022
Slide 2: Safe Harbour Statement
Safe Harbour Statement DISCLAIMER This presentation includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking s
Slide 3: Finance
Finance AIRBUS
Slide 4: Delivering on our 2022 Guidance
2 Delivering on our 2022 Guidance August 31, 2022 H1 2022 Deliveries EBIT Adjusted FCF before M&A and Customer Financing (in units) (in €bn) (in €bn) ~320 ~700 ~2.9 ~5.5 ~1.5 ~3.5 382 2.0 2.6 August Remain to Do FY'22 H1 Remain to Do FY'22 H1 Remain to Do FY'22 2022 Guidance 2022 Guidance 2022 Guida
Slide 5: Commercial Aircraft delivery: identified growth path
3 Commercial Aircraft delivery: identified growth path Deliveries and production rates evolution (not to scale) % of total deliveries A220 6% ~1,000 Widebody 19% Monthly production rates 863 ~860 A220 ~6 Deliveries 14 ~700 ~50 A320 75 611 566 ~3 A330 ~3+ End-2022 A350 ~5 Current target (1) ~6 2019 2
Slide 6: Driving earnings performance: puts and takes point towards growth beyond 2019 level
4 Driving earnings performance: puts and takes point towards growth beyond 2019 level For illustration (not to scale) A320 Family Volumes FX / Hedging Should current market conditions last A320 Family Volumes - Mix Widebodies Profitable Divisions Volumes - RoS low single digit growth A220 Converging
Slide 7: Driving cash performance: puts and takes point towards growth beyond 2019 level
5 Driving cash performance: puts and takes point towards growth beyond 2019 level For illustration (not to scale) Capex & D&A Capex & D&A Working Capital Tailwind 8.0 A400M & A220 ↓ Trade liabilities and PDPs Headwind Working Capital Inventory 7.0 linearization efforts 6.0 A400M & A220 5.0 4.0 3.0 F
Slide 8: USD Exposure Coverage as of 30 June 2022
6 USD Exposure Coverage as of 30 June 2022 Values in $bn Forward Sales as of Jun. 2022 0.6 1.1 Euro Conversion as of Jun. 2022 1.9 Forward Sales as of Dec. 2021 9.3 Euro Conversion as of Dec. 2021 4.6 0.5 3.6 19.6 20.4 4.2 11.3 13.3 9.5 7.0 2.1 1.1 Average rates (€ vs. $) 2022 2023 2024 2025 2026 20
Slide 9: Understanding hedging sensitivity
7 Understanding hedging sensitivity €/$ Forward Rates(1) Spot +1 year +2 years +3 years +4 years +5 years +6 years 15-Sep-22 1.00 1.03 1.04 1.06 1.07 1.08 1.10 Rule of Thumb to 1-cent change in hedge rate For illustration only 350 $ 1.20 300 $ 1.24 +5 bn 250 EBIT impact €m At $1.06 200 ~23 bn 150 ~1
Slide 10: Understanding escalation mechanism on commercial aircraft
8 Understanding escalation mechanism on commercial aircraft For illustration (not to scale) 3 Escalation < Cap 2 Escalation > Cap 1 Base Escalation < Cap price Y0 Y+1 Y+2 Y+3 Y+4 Y+5 Y+6 Escalation Cap Escalation formula Escalation applied Escalation clauses based on compounded rates over the cont
Slide 11: Growing R&D and CapEx investments / Efficient Working Capital management
9 Growing R&D and CapEx investments / Efficient Working Capital management Values in € bn 31.2 ≈ stable Efficient WC management 9.2 5.3 For illustration (not to scale) 7.1 6.1 4.6 10.9 1.4 5.0 0.6 3.7 2.3 2.3 2.6 1.8 1.9 15.0 3.2 3.4 2.9 2.8 2.7 -0.4 -1.0 2017-21 2022-26 2017 2018 2019 2020 2021 (1)
Slide 12: A robust balance sheet and sound liquidity position
10 A robust balance sheet and sound liquidity position Balance Sheet: Net cash(3) evolution: As of June 30, 2022 Values in € bn € 6.0 bn Credit Facility (RSCF) (1) + FCF before M&A and CF - Pensions - Customer Financing € 14.3 bn - Dividends Gross Debt (2) € 21.6 bn Incl. interest rate contracts 12.
Slide 13: Committed to growing shareholder returns
11 Committed to growing shareholder returns Dividends per share and payout ratio Total shareholder returns(1) Values in € Values in € bn 2 80% 2 1.65 70% 2 1.50 1.50 60% 1 1.3 50% 1.2 1.2 1 42% 1 40% 40% 1 30% 28% 1 20% 0 10% 0 0.0 0.0 0 0% 2017 2018 2019 2020 2021 2018 2019 2020 2021 2022 DPS Payou
Slide 14: Glossary on Alternative Performance Measures (APM)
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 wi