Sat, Feb 17, 2024
Surprisingly Good Year for Boeing Rival - Will The Lucky Streak Continue?
Airbus reported its 2023 financial results for fiscal year 2023, capping the year with an EBITDA of €5.8 billion on revenues of €65.4 billion.
Capping off a year that saw 2,319 commercial aircraft orders, the fight against their yankee rival Boeing is Airbus' to lose. Net orders remained strong, at 2,094 aircraft to only 820 for the same span in 2022. That brought the total Airbus backlog to just under 8,600 aircraft on the commercial side. Airbus Helicopters saw less stark growth from 2022, seeing its net orders rise to 393 from 362 the year before. Airbus Defence and Space saw its order intake rise by 15%, thanks to a 4th quarter order for 16 new C295 aircraft to Spain.
EBITA related to the company's commercial arm alone rose from €4.6 to €4.81 million, thanks to "higher deliveries and a more favourable hedge rate". One bruise in the company came from the impact of Russian sanctions, which tightened distribution lines for niche materials like titanium in the wake of an already battered post-COVID supply chain.
“In 2023 we recorded strong order intake across all our businesses and we delivered on our commitments. This was a significant achievement given the complexity of the operating environment,” said Guillaume Faury, Airbus Chief Executive Officer. “We will continue to invest in our global industrial system, while progressing on our transformation and decarbonisation journey. Our dividend proposals are a reflection of the strong 2023 financials, our growth prospects in 2024 and balance sheet strength.”
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