Slide 1: 9m 2022 Results Presentation
28 October 2022 Guillaume FAURY | Chief Executive Officer Dominik ASAM | Chief Financial Officer
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: Company Highlights
AIRBUS Company Highlights Divisional Highlights Guidance Highlights Appendix
Slide 4: 9m 2022 Key Topics
9m 2022 Key Topics 4 Complex operating environment 437 (1) commercial aircraft delivered in 9m 2022 9m 2022 financials: EBIT Adjusted of € 3.5 bn; EBIT reported of € 3.6 bn FCF before M&A and Customer Financing of € 2.9 bn 2022 Guidance: Unchanged for commercial aircraft deliveries and
Slide 5: 9m 2022 Commercial Positioning
9m 2022 Commercial Positioning 5 Consolidated Airbus Order Book Consolidated Airbus by Division External Revenue by Division 9m 2022 9m 2021 Change Airbus 69% Order Intake 647 133 386.5% Helicopters 11% Airbus (net) (in units) Defence and Order Book 7,294 6,894 5.8% € 38.1 bn Space 20% t/o defence O
Slide 6: 9m 2022 Financial Performance
9m 2022 Financial Performance 6 Revenues EBIT Adjusted in € bn in € bn / RoS (%) 9.6% 9.1% 35.2 38.1 3.4 3.5 9m 2021 9m 2022 9m 2021 9m 2022 EPS(1) Adjusted FCF before M&A and Customer Financing in € in € bn 2.95 3.17 2.9 2.3 9m 2021 9m 2022 9m 2021 9m 2022 (1) 9m 2022 Average number of shares: 786,
Slide 7: 9m 2022 Profitability
9m 2022 Profitability 7 EBIT Performance 9m 2022 EBIT Reported of € 3,552 m in € bn 9m 2022 EBIT Adjustments resulting from: € + 349 m PDP mismatch / BS revaluation € + 33 m A380 programme 3.4 3.5 3.4 3.6 € - 219 m A400M charge € - 48 m Aerostructures transformation € - 44 m Others EBI
Slide 8: USD Exposure Coverage
USD Exposure Coverage 8 IN $ BILLION Forwards & Euro Conversion as of Sep. 2022 Forwards & Euro Conversion as of Dec. 2021 14.1 22.1 22.0 17.1 12.5 12.5 6.9 3.5 Average blended rates(1) 2022 (€ vs. $) Remaining 3 months 2023 2024 2025 2026 2027 2028 Forwards and Euro conversion 1.25 1.22 1.23 1.24 1
Slide 9: 9m 2022 Cash Evolution
9m 2022 Cash Evolution 9 IN € BILLION +0.1 -1.2 -0.1 +3.7 -1.2 -1.1 7.7 Free Cash Flow before M&A: € + 2.6 bn 8.0 t/o Customer Financing € - 0.3 bn Free Cash Flow before M&A and Customer Financing: € + 2.9 bn Net Cash Position (1) Gross Cash Flow Change in Cash used for (2) M&A (3) Shareholder Retur
Slide 10: Divisional Highlights
AIRBUS Company Highlights Divisional Highlights Guidance Highlights Appendix
Slide 11: Airbus: Deliveries by Programme (Units)
11 Deliveries by Programme (Units) IN € MILLION 9m 2022 9m 2021 Change A220 8% Order Intake (net) 647 133 386.5% A320 78% Units Order Book 7,294 6,894 5.8% A330 5% (1) (2) (2) Deliveries Units 437 424 3.1% A350 10% Revenues 26,654 24,618 8.3% R&D Expenses 1,618 1,584 2.1% in %of Revenues 6.1% 6.4% E
Slide 12: Helicopters
Helicopters 12 External Revenue Split IN € MILLION 9m 2022 9m 2021 Change Civil 46% Order Intake (net) 246 185 33.0% Defence 54% Units Order Book 792 654 21.1% Deliveries Units 193 194 -0.5% Revenues 4,515 4,137 9.1% R&D Expenses 178 177 0.6% in %of Revenues 3.9% 4.3% EBIT Adjusted 380 314 21.0% in
Slide 13: Defence and Space
Defence and Space 13 External Revenue Split Platforms 67% IN € MILLION 9m 2022 9m 2021 Change Services 33% Order Intake (net) 7,991 10,134 -21.1% Revenues 7,593 6,881 10.3% R&D Expenses 180 169 6.5% in %of Revenues 2.4% 2.5% EBIT Adjusted 231 284 -18.7% in %of Revenues 3.0% 4.1% EBIT (64) 204 N/A in
Slide 14: Guidance Highlights
AIRBUS Company Highlights Divisional Highlights Guidance Highlights Appendix
Slide 15: 2022 Guidance
2022 Guidance 15 As the basis for its 2022 guidance, the Company assumes: no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services. The Company’s 2022 guidance is before M&A. On that basis, • The Company maintains
Slide 16: Key Priorities
Key Priorities 16 Deliver on our commercial aircraft ramp-up Continue the transformation of the Company Further strengthen the backlog across businesses Lead the development of sustainable aerospace Focus on earnings and cash growth trajectory beyond 2022
Slide 17: Appendix
AIRBUS Company Highlights Divisional Highlights Guidance Highlights Appendix
Slide 18: Expected Average Blended Rates for Forwards and Euro Conversion
Expected Average Blended Rates for Forwards and Euro Conversion € vs. $ 18 Active exposure management 1.28 Average 1.26 Blended Rates 1.25 (1) 1.24 1.25 FY 2021 1.21 1.24 1.23 FY 2022E 1.23 1.22 1.21 (2) 1.21 1.20 1.20 1.18 1.16 1.16 1.14 Q1 Q2 Q3 Q4 2021 2022E Blended rates reflect both EBIT impact
Slide 19: 9m 2022 Detailed Income Statement and Adjustments
9m 2022 Detailed Income Statement and Adjustments 19 thereof Adjustments Impact on EBIT 9m 2022 Financial 9m 2022 IN € MILLION Operational FX Reported Result Adjusted Defence Airbus + Defence Airbus Helicopters and Space(1) and Space(2) EBIT 3,552 3,481 (62) (216) 0 349 in % of Revenues 9.3% 9.1% In
Slide 20: 9m 2021 Detailed Income Statement and Adjustments
9m 2021 Detailed Income Statement and Adjustments 20 thereof Adjustments Impact on EBIT 9m 2021 Financial 9m 2021 IN € MILLION Operational FX Reported Result Adjusted Defence Airbus + Defence Airbus Helicopters and Space(1) and Space(2) EBIT 3,437 3,369 264 (29) (2) (165) in % of Revenues 9.8% 9.6%
Slide 21: Liquidity as of 30 September 2022
Liquidity as of 30 September 2022 21 € 8.0 bn RSCF: Signed 5th July 2022 with a 5 years tenor + 2 extension options of 1 year; undrawn Credit Facility (RSCF) Fully committed by 38 banks No financial covenants, no MAC clause Sustainability-Linked € 14.5 bn Financing Liabilities: Total Gross D
Slide 22: Q3 2022 Key Figures
Q3 2022 Key Figures 22 IN € MILLION Q3 2022 Q3 2021 Revenues 13,309 10,518 EBIT Adjusted 836 666 EBIT 973 710 Net Income 667 404 FCF before M&A 944 302 FCF before M&A and Customer Financing 944 209 IN € MILLION Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Revenues EBIT Adjusted EBIT Airbus 9,121
Slide 23: Detailed Free Cash Flow
Detailed Free Cash Flow 23 IN € MILLION 9m 2022 9m 2021 Net Cash position at the beginning of the period (1) 7,740 4,724 (2) Gross Cash Flow from Operations 3,745 2,733 (3) Change in working capital 78 800 (4) Cash used for investing activities (1,321) (1,225) (5) of which Industrial CapEx (addition
Slide 24: Net Cash Position
Net Cash Position 24 IN € MILLION Sep. 2022 Dec. 2021 Gross Cash 22,457 22,683 Financing Liabilities (13,009) (15,040) Short-term Financing Liabilities (2,009) (1,946) Long-term Financing Liabilities (11,000) (13,094) Interest rate contracts (1,476) 97 Reported Net Cash (1) 7,972 7,740 (1) The Compa
Slide 25: Customer Financing Exposure
Customer Financing Exposure 25 IN € MILLION Sep. 2022 Dec. 2021 Sep. 2022 Dec. 2021 Airbus Helicopters Closing rate € 1 = $ 0.97 $ 1.13 $ 0.97 $ 1.13 Total Gross Exposure 539 364 37 58 of which off-balance sheet 47 41 2 26 Estimated value of collateral (481) (282) (37) (58) Net Exposure 58 82 0 0 Pr
Slide 26: Airbus Customer Financing
Airbus Customer Financing 26 IN € BILLION Additions Sell Down Amortization Net change 1.0 0.8 0.9 Airbus Customer 0.8 0.8 0.7 Financing Gross 0.6 0.6 0.6 0.5 Exposure 0.3 0.3 0.1 0.2 0.0 0.2 (0.2) (0.2) (0.2) (0.3) (0.1) (0.3) (0.5) (0.4) (0.1) (0.7) (0.7) (0.7) (0.7) (0.6) (0.7) (0.6) (0.1) (0.1) (
Slide 27: Balance Sheet Highlights: Assets
Balance Sheet Highlights: Assets 27 IN € MILLION Sep. 2022 Dec. 2021 Non-current Assets 56,104 51,247 of which Intangible & Goodwill 16,800 16,367 of which Property, plant & equipment 16,636 16,536 of which Investments & other long-term financial assets 5,608 5,673 of which Contract assets 51 27 of
Slide 28: Balance Sheet Highlights: Liabilities
Balance Sheet Highlights: Liabilities 28 IN € MILLION Sep. 2022 Dec. 2021 Total Equity 6,391 9,486 of which AOCI (Accumulated Other Comprehensive Income) (9,630) (1,822) of which Non-controlling interests 29 20 Total Non-current liabilities 54,586 49,754 of which Pensions 3,254 6,659 of which Other
Slide 29: Shareholding Structure at 30 September 2022
Shareholding Structure at 30 September 2022 29 Free Float 74.0% Shareholder Agreement 25.9% SOGEPA 10.9% GZBV 10.9% SEPI 4.1% Treasury Shares 0.1% 788,136,199 shares issued at 30 September 2022
Slide 30: Quarterly Revenues Breakdown (Cumulative)
Quarterly Revenues Breakdown (Cumulative) 30 IN € MILLION Q1 H1 9m FY 2022 2021 2022 2021 2022 2021 2022 2021 Airbus 8,541 7,272 17,533 17,813 26,654 24,618 36,164 Helicopters 1,265 1,177 2,744 2,594 4,515 4,137 6,509 Defence and Space 2,453 2,115 5,056 4,538 7,593 6,881 10,186 Eliminations (259) (1
Slide 31: Quarterly EBIT Adjusted Breakdown (Cumulative)
Quarterly EBIT Adjusted Breakdown (Cumulative) 31 IN € MILLION Q1 H1 9m FY 2022 2021 2022 2021 2022 2021 2022 2021 Airbus 1,065 533 2,276 2,291 2,875 2,739 3,570 Helicopters 90 62 215 183 380 314 535 Defence and Space 106 59 155 229 231 284 696 Eliminations 2 40 (1) 0 (5) 32 64 Consolidated Airbus 1
Slide 32: Quarterly EBIT Breakdown (Cumulative)
Quarterly EBIT Breakdown (Cumulative) 32 IN € MILLION Q1 H1 9m FY 2022 2021 2022 2021 2022 2021 2022 2021 Airbus 1,242 343 2,478 2,387 3,241 2,889 4,175 Helicopters 90 62 215 183 380 312 535 Defence and Space 95 17 (113) 157 (64) 204 568 Eliminations 2 40 (1) 0 (5) 32 64 Consolidated Airbus 1,429 46
Slide 33: 9m 2022 IFRS vs. APM Cash Flow Reconciliation
9m 2022 IFRS vs. APM Cash Flow Reconciliation 33 IN € BILLION Sep. 2022 IN € BILLION Sep. 2022 Cash provided by (used for) operating activities 3.4 Cash provided by (used for) operating activities 3.4 t/o Reimbursement from / contribution to plan assets (0.5) Cash provided by (used for) investing ac
Slide 34: 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