Business & Economy

Airbus earns 2.7 billion euros in first half of 2021

Paris, Jul 29 (EFE).- Airbus cut its losses in the first half of 2021 and closed this period with a net profit of 2.3 billion euros ($ 2.7 billion), compared to the 1.9 billion euro-losses it recorded between January and June 2020 over the coronavirus crisis.

These results also represent an improvement with respect to data prior to the Covid-19 crisis, since in the first half of 2019 Airbus had earned 1.2 billion euros.

The company raised its forecasts for 2021 despite market uncertainty due to the pandemic crisis, and said in a statement that this profit was due to commercial aircraft deliveries, cost containment and competitiveness, and good performance in Helicopters and Defense and Space.

Airbus’ consolidated adjusted net operating profit, an indicator that excludes non-recurring items, rose to 2.7 billion euros in the first six months of 2021, compared to the 945 million cut in the previous year, also higher than the 2.5 billion in 2019.

The increase was due to the good performance in the commercial aircraft activities, which represented 2.3 billion euros, but the increase in helicopter sales (183 million euros) also helped. This was driven by the execution of programs and lower spending on research and development, and defense (229 million euros), due to cost containment efforts and increased volume in the Space Systems program.

The European manufacturer delivered 165 aircraft between January and July, compared to 365 in 2020, with a cancellation of 38 units compared to 298 that were canceled the previous year. As of June 30, 2021, the company had 6,925 commercial aircraft in its order book.

In helicopters there were 123 orders, compared to 75 in the same period of 2020, including 10 helicopters from the Super Puma family. In Defense and Space, the value of the orders was 3.6 billion euros, behind the 5,6 billion euros in 2020.

The semester turnover was 24.6 billion euros, after the 18.9 billion euros in 2020, which had meant a decrease of 39 percent compared to the January-June 2019 period.

In the case of commercial aircraft, turnover represented 17,813, a 42 percent increase from the previous year’s data, which also rose in helicopters (+ 11 percent), to 2.6 billion euros. In space and defense activities, the result remained practically stable, with 4.5 billion euros.

The company said there would be no further disruptions to the global economy, air traffic and internal operations as the basis for its 2021 forecasts.

Without counting mergers and acquisitions, its updated forecasts show an intention to reach 600 commercial aircraft deliveries in 2021 and an adjusted net operating profit of 4 billion euros, with a free cash flow of 2 billion euros. EFE


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