Europe-based global aerospace group Airbus on Thursday published its results for the first half of calendar 2020 (1H20).
The group reported that its consolidated revenues for this period came to €18.9-billion, in comparison with €30.9-billion in the same period last year (1H19).
The group’s ‘consolidated earnings before interest and taxes (Ebit) adjusted’ for the first half of this year amounted to minus €945-million, as against €2.53-billion in 1H19.
Airbus Commercial Aircraft’s Ebit adjusted came to minus €1.31-billion, including minus €900-million in charges related to the Covid-19 pandemic, which contrasted sharply with the 1H19 figure of €2.19-billion. Airbus Helicopters Ebit adjusted actually increased in 1H20 to €152-million from €125-million in 1H19, largely because of defence orders and increased income from services, despite fewer deliveries. Airbus Defence and Space also reported positive Ebit adjusted, although down on the same period last year. For 1H20 it came to €186-million as against €233-million in 1H19.
Airbus delivered 196 commercial aircraft in 1H20, as against 389 in 1H19. Airbus Helicopters made 104 deliveries during 1H20, down from 143 in the same period last year. Airbus Defence and Space deliveries during this year’s first half included three A400M military air transport aircraft.
“The impact of the Covid-19 pandemic on our financials is now very visible in the second quarter, with H1 commercial aircraft deliveries halving compared to a year ago,” reported Airbus CEO Guillaume Faury. “We have calibrated the business to face the new market environment on an industrial basis and the supply chain is now working in line with the new plan.”
The group is seeking as much as possible to avoid burning cash. “We face a difficult situation with uncertainty ahead, but with the decisions we have taken, we believe we are adequately positioned to navigate these challenging times in our industry,” he said.
Regarding orders, these actually increased for commercial aircraft during 1H20 in comparison to 1H19, totalling 298 as against 88 during the previous period. However, of these 298, only eight were ordered during the second quarter of this year. The total commercial aircraft order backlog stood at 7 584 as of June 30. Airbus Helicopters booked 75 net orders in comparison to 123 in 1H19. The value of Airbus Defence and Space’s order book rose to €5.6-billion.