Airbus’ revenue rose 3% to €29.6bn in the first half. A small decline in commercial aircraft revenue due to lower deliveries (306 aircraft vs 323 in the prior year) was more than offset by double-digit growth in its Helicopters and Defence & Space divisions.
Underlying operating profit jumped 58% higher to €2.2bn, driven by a sharp return to profitability in the Defence & Space division.
Free cash outflows worsened from €0.6bn to €1.6bn, reflecting a planned build-up of inventory to support production later in the year. There was a net cash position of €7.0bn at period-end.
Full-year guidance has been maintained, with Airbus expecting to deliver “around 820” commercial aircraft. Underlying operating profit and free cash flow are expected to be around €7.0bn and €4.5bn respectively.
The shares were broadly flat in early trading.
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Airbus key facts
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