Airbus Se · EURONEXT:AIR
Airbus — Airbus Se Ord — Q1 2025 Earnings Presentation
36 slides from Airbus's earnings presentation, Apr 30, 2025
Slide 1: Q1 results 2025
- Q1 results 2025 30 April 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
AIRBUS 01. Company highlights y AIRBUS
Slide 4: Q1 2025 Key Topics
4 Q1 2025 Key Topics Progressing in a fast changing Financials operating environment € 0.6 bn EBIT Adjusted 136 Commercial aircraft delivered € 0.5 bn EBIT Reported Guidance unchanged € - 0.3 bn FCF before Customer Financing
Slide 5: Q1 2025 Commercial Positioning
5 Q1 2025 Commercial Positioning Airbus: Q1 2025 Q1 2024 Change Good commercial momentum on Widebody aircraft Order Intake 204 170 20.0% (net) Airbus (in units) Order Book 8,726 8,626 1.2% Helicopters: Positive momentum in both Civil & Military Order Intake markets 100 63 58.7% (net) Helicopters (in
Slide 6: Q1 2025 Financial Performance
6 Q1 2025 Financial Performance Revenues Revenues by Division (1) R&D in € bn in % in € bn Helicopters 11% Airbus 69% 12.8 13.5 € 13.5 bn 0.7 0.7 t/o defence € 2.6 bn Q1 2024 Q1 2025 Q1 2024 Q1 2025 Defence and Space 20% (1) Breakdown based on External Revenues
Slide 7: Q1 2025 Profitability
7 Q1 2025 Profitability EBIT Adjusted EBIT Reported in € bn in €bn EBIT Adjustments of € - 151 m : 4.6% 4.5% 4.7% • € - 13 m $ Working Capital mismatch and 3.5% Balance Sheet revaluation • € - 105 m related to Airbus Defence & Space 0.6 0.6 workforce adaptation plan 0.6 0.5 • € - 33 m Others Q1 2024
Slide 8: USD Exposure Coverage
8 USD Exposure Coverage IN $ BILLION 4.0 Forwards & Euro Conversion as of Mar. 2025 Forwards & Euro Conversion as of Dec. 2024 22.9 18.9 18.3 16.4 5.0 0.5 Average blended rates(1) 2025 2030 (€ vs. $) remaining 9 months 2026 2027 2028 2029 and beyond Forwards and Euro conversion 1.19 1.21 1.24 1.22 1
Slide 9: Q1 2025 Cash Evolution
9 Q1 2025 Cash Evolution IN € BILLION +1.2 -0.9 -0.6 +0.0 -0.5 11.8 11.0 Free Cash Flow (1): € - 0.3 bn FCF before Customer Financing (1): € - 0.3 bn [Q1’24: € - 1.8 bn] (2) Net Cash Position Gross Cash Flow Change in Industrial CapEx Other FCF Pensions Net Cash Position December 2024 from Operation
Slide 10: Divisional highlights
AIRBUS 02. Divisional highlights
Slide 11: Airbus
11 Airbus Deliveries by Programme (% of units delivered) IN € MILLION Q1 2025 Q1 2024 Change A330 A320 3% Order Intake (net) 204 170 20.0% Units 78% Order Book 8,726 8,626 1.2% A350 Deliveries Units 136 142 -4.2% 7% Revenues 9,521 9,167 3.9% R&D Expenses 545 614 in % of Revenues 5.7% 6.7% -11.2% A22
Slide 12: Airbus Helicopters
12 Airbus Helicopters External Revenue Split IN € MILLION Q1 2025 Q1 2024 Change Order Intake (net) 100 63 58.7% Civil Units 48% Order Book 942 817 15.3% Deliveries Units 51 50 2.0% Revenues 1,600 1,461 9.5% R&D Expenses 66 71 in % of Revenues 4.1% 4.9% -7.0% Defence 52% EBIT Adjusted 78 71 in % of
Slide 13: Airbus Defence and Space
13 Airbus Defence and Space External Revenue Split IN € MILLION Q1 2025 Q1 2024 Change Services Order Intake (net) 2,592 1,994 30.0% 37% Revenues 2,656 2,399 10.7% R&D Expenses 57 58 in % of Revenues 2.1% 2.4% -1.7% EBIT Adjusted 77 (9) in % of Revenues 2.9% -0.4% N/A Platforms EBIT (31) 30 63% in %
Slide 14: Guidance highlights
AIRBUS 03. Guidance highlights
Slide 15: Spirit AeroSystems – Airbus work packages
Spirit AeroSystems – Airbus work packages 15 Term sheet agreement Definitive agreement Closing July’24 April’25 Q3’25 Regulatory approvals Transitory Service Agreement & Day 1 preparation Core perimeter as per term sheet Core perimeter as signed on 28th April 2025 Perimeter On top of the initial sco
Slide 16: 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 excludes the impact of tariffs on its business. The Company’s 2025 guidance in
Slide 17: 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 18: Appendix. Q1 Results
AIRBUS Appendix. Q1 Results 2025
Slide 19: Expected Average Blended Rates for Forwards and Euro Conversion
Expected Average Blended Rates for Forwards and Euro Conversion € vs. $ 19 Active exposure management 1.24 Average Blended Rates FY 2024 1.21 1.23 1.22 FY 2025E 1.19 1.21 1.21 1.20 (1) 1.20 1.20 1.19 1.18 1.18 1.18 1.16 Q1 Q2 Q3 Q4 2024 2025E Blended rates reflect both EBIT impact of hedge rates of
Slide 20: Q1 2025 Detailed Income Statement and Adjustments
20 Q1 2025 Detailed Income Statement and Adjustments thereof Adjustments Impact on EBIT Q1 2025 Financial Q1 2025 IN € MILLION Operational FX Reported Result Adjusted Defence Airbus + Defence Airbus Helicopters and Space(1) and Space(2) EBIT 473 624 (32) (106) 0 (13) in % of Revenues 3.5% 4.6% Inter
Slide 21: Q1 2024 Detailed Income Statement and Adjustments
21 Q1 2024 Detailed Income Statement and Adjustments thereof Adjustments Impact on EBIT Q1 2024 Financial Q1 2024 IN € MILLION Operational FX Reported Result Adjusted Defence Airbus + Defence Airbus Helicopters and Space(1) and Space(2) EBIT 609 577 (4) 49 0 (13) in % of Revenues 4.7% 4.5% Interest
Slide 22: Liquidity as of 31 March 2025
22 Liquidity as of 31 March 2025 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 clause
Slide 23: Q1 2025 Key Figures
23 Q1 2025 Key Figures IN € MILLION Q1 2025 Q1 2024 Revenues 13,542 12,830 EBIT Adjusted 624 577 EBIT 473 609 Net Income 793 595 FCF before Customer Financing (310) (1,791) FCF (296) (1,799) IN € MILLION Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Revenues EBIT Adjusted EBIT Airbus 9,521 9,167 4
Slide 24: Detailed Free Cash Flow
24 Detailed Free Cash Flow IN € MILLION Q1 2025 Q1 2024 Net Cash position at the beginning of the period 11,753 10,726 Gross Cash Flow from Operations (1) 1,199 959 Change in working capital (2) (906) (2,284) Investments in intangible and fixed assets (net) (589) (474) & Dividends paid by companies
Slide 25: Net Cash Position
25 Net Cash Position IN € MILLION Mar. 2025 Dec. 2024 Gross Cash 26,093 26,864 Financing Liabilities (14,269) (14,279) Short-term Financing Liabilities (3,963) (3,924) Long-term Financing Liabilities (10,306) (10,355) Interest rate contracts (828) (832) Reported Net Cash 10,996 11,753
Slide 26: Customer Financing Exposure
26 Customer Financing Exposure IN € MILLION Mar. 2025 Dec. 2024 Mar. 2025 Dec. 2024 Airbus Helicopters Closing rate € 1 = $ 1.08 $ 1.04 $ 1.08 $ 1.04 Total Gross Exposure 285 309 15 17 of which off-balance sheet 0 2 2 2 Estimated value of collateral (238) (263) (15) (17) Net Exposure 47 46 0 0 Provi
Slide 27: Airbus Customer Financing
27 Airbus Customer Financing Additions Sell Down Amortization Net change Airbus Customer Financing Gross 1,0 0,8 0,9 Exposure in $ bn 0,8 0,7 0,6 0,6 0,5 0,3 0,3 0,2 0,1 0,1 0,1 0,0 0,0 (0,2) (0,1) (0,1) (0,0) (0,3) (0,3) (0,4) (0,6) (0,5) (0,6) (0,4) (0,0) (0,0) (0,0) (0,7) (0,7) (0,7) (0,7) (0,7)
Slide 28: Balance Sheet Highlights: Assets
28 Balance Sheet Highlights: Assets IN € MILLION Mar. 2025 Dec. 2024 Non-current Assets 60,293 59,781 of which Intangible & Goodwill 17,099 17,179 of which Property, plant & equipment 19,126 19,112 of which Investments & other long-term financial assets 8,181 7,510 of which Contract assets 54 61 of
Slide 29: Balance Sheet Highlights: Liabilities
29 Balance Sheet Highlights: Liabilities IN € MILLION Mar. 2025 Dec. 2024 Total Equity 22,090 19,696 of which AOCI (Accumulated Other Comprehensive Income) (1,993) (3,286) of which Non-controlling interests 91 90 Total Non-current liabilities 48,809 48,894 of which Pensions 1,375 1,555 of which Othe
Slide 30: New Capitalised Research and Development
30 New Capitalised Research and Development IN € MILLION Q1 2025 Q1 2024 Airbus 48 20 Helicopters 0 0 Defence and Space 17 37 Eliminations 0 0 Consolidated Airbus 65 57
Slide 31: Shareholding Structure at 31 March 2025
31 Shareholding Structure at 31 March 2025 SOGEPA 10.8% Free Float 73.6% GZBV 10.8% SEPI 4.1% Treasury Shares 0.6% 792,283,683 shares issued at 31 March 2025
Slide 32: Quarterly Revenues Breakdown (Cumulative)
32 Quarterly Revenues Breakdown (Cumulative) IN € MILLION Q1 H1 9m FY 2025 2024 2025 2024 2025 2024 2025 2024 Airbus 9,521 9,167 21,215 32,879 50,646 Helicopters 1,600 1,461 3,191 4,875 7,941 Defence and Space 2,656 2,399 4,985 7,609 12,082 Eliminations (235) (197) (566) (849) (1,439) Consolidated A
Slide 33: Quarterly EBIT Adjusted Breakdown (Cumulative)
33 Quarterly EBIT Adjusted Breakdown (Cumulative) IN € MILLION Q1 H1 9m FY 2025 2024 2025 2024 2025 2024 2025 2024 Airbus 494 507 1,954 3,028 5,093 Helicopters 78 71 230 420 818 Defence and Space 77 (9) (807) (661) (566) Eliminations (25) 8 14 11 9 Consolidated Airbus 624 577 1,391 2,798 5,354
Slide 34: Quarterly EBIT Breakdown (Cumulative)
34 Quarterly EBIT Breakdown (Cumulative) IN € MILLION Q1 H1 9m FY 2025 2024 2025 2024 2025 2024 2025 2024 Airbus 451 500 1,972 2,876 5,133 Helicopters 78 71 230 420 818 Defence and Space (31) 30 (760) (617) (656) Eliminations (25) 8 14 11 9 Consolidated Airbus 473 609 1,456 2,690 5,304
Slide 35: Q1 2025 IFRS vs. APM Cash Flow Reconciliation
35 Q1 2025 IFRS vs. APM Cash Flow Reconciliation IN € BILLION Mar. 2025 Cash provided by (used for) operating activities 0.2 t/o Reimbursement from / contribution to plan assets (0.1) t/o Treasury swaps 0.0 t/o Change in other operating assets and liabilities (0.9) Gross Cash Flow from Operations 1.
Slide 36: Glossary on Alternative Performance Measures (APM)
36 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