Airbus records 3% YoY growth with revenue of EUR 29.6 Bn in H1 2025

Oliver Zipse has been selected as the non-executive director of the company, for submission at the 2026 Airbus Annual General Meeting.

Airbus SE reported consolidated financial results for the Half-Year (H1) ended June 30, 2025. The airline has recorded total gross order of 494 commercial aircrafts, 3% year on year growth with EUR 29.6 billion revenue. 

Guillaume Faury, Airbus Chief Executive Officer, said, “Our H1 financials reflect transformation progress in our Defence and Space division and the lower commercial aircraft deliveries compared to a year ago. We are producing aircraft in line with our plans but deliveries are backloaded as we face persistent engine supply issues on the A320 programme. The operating environment is complex and fast-changing. On tariffs, the recent political agreement between the EU and the US to revert to a zero-tariff approach for civil aircraft is a welcome development for our industry. Our 2025 guidance, which continues to exclude the impact of tariffs, remains unchanged.”

Gross commercial aircraft orders totalled 494 (H1 2024: 327 aircraft) with net orders of 402 aircraft after cancellations (H1 2024: 310 aircraft). The order backlog amounted to 8,754 commercial aircraft at the end of June 2025. Airbus Helicopters registered net orders totalling 171 units (H1 2024: 233 units), which were well spread across the product range. Order intake by value at Airbus Defence and Space totalled EUR 5.1 billion (H1 2024: EUR 6.1 billion).

Consolidated revenues increased 3% year-on-year to EUR 29.6 billion (H1 2024: EUR 28.8 billion). A total of 306 commercial aircraft were delivered (H1 2024: 323 aircraft), comprising 41 A220s, 232 A320 Family, 12 A330s and 21 A350s. Revenues generated by Airbus’ commercial aircraft activities decreased 2% to EUR 20.8 billion, mainly reflecting the lower number of deliveries. Airbus Helicopters’ revenues increased by 16% to EUR 3.7 billion, reflecting a solid performance from programmes and growth in services. Helicopter deliveries totalled 138 units (H1 2024: 124 units). Revenues at Airbus Defence and Space increased 17% year-on-year to EUR 5.8 billion, driven by higher volumes across all its business lines.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – totalled EUR 2,204 million (H1 2024: EUR 1,391 million). H1 2024 included charges recorded in the Space Systems business totalling EUR  989 million.

EBIT Adjusted related to Airbus’ commercial aircraft activities totalled EUR 1,714 million (H1 2024: EUR 1,954 million), mainly reflecting the lower deliveries partly offset by a favourable hedge rate and lower R&D expenses.

The A320 Family programme continues to ramp up towards a rate of 75 aircraft per month in 2027. The A330 programme is currently stabilising at a monthly production rate of 4 aircraft and in order to meet customer demand the Company now targets rate 5 in 2029. Specific supply chain challenges, notably with Spirit AeroSystems, are putting pressure on the ramp up of the A350 and the A220. The Company continues to target rate 12 for the A350 in 2028 and a monthly A220 production rate of 14 aircraft in 2026.

The Company is making good progress on the acquisition of certain Spirit AeroSystems work packages. While the expected closing date is now shifting into Q4 2025 due to ongoing regulatory approvals, all parties are putting the necessary efforts into the closing process.

Airbus Helicopters’ EBIT Adjusted increased to EUR  249 million (H1 2024: EUR  230 million), reflecting the growth in services and higher deliveries but with a less favourable mix.

EBIT Adjusted at Airbus Defence and Space amounted to EUR  265 million (H1 2024: EUR  -807 million), supported by higher volumes and improved profitability across all business lines.

On the A400M programme, the Company is engaged in positive and forward-looking discussions with the launch nations and OCCAR. This was notably marked by the agreement reached in June with OCCAR to advance seven deliveries for France and Spain and to further increase the visibility on the programme’s production. In light of uncertainties regarding the level of aircraft orders, Airbus continues to assess the potential impact on the programme's manufacturing activities. Risks on the qualification of technical capabilities and associated costs remain stable.

Consolidated self-financed R&D expenses totalled EUR  1,406 million (H1 2024: EUR  1,593 million). Consolidated EBIT (reported) amounted to EUR  1,617 million (H1 2024: EUR 1,456 million), including net Adjustments of EUR 587 million.

These Adjustments comprised EUR  391 million related to the dollar working capital mismatch and balance sheet revaluation, of which EUR  378 million were in Q2. This mainly reflects the phasing impact arising from the difference between transaction date and delivery date; EUR 105 million related to the Airbus Defence and Space workforce adaptation plan recorded in Q1; EUR 57 million related to Spirit AeroSystems work packages stabilisation costs, mostly recorded in Q2; EUR 34 million of other costs including compliance and M&A, of which EUR  -10 million were in Q2.

The financial result was EUR  490 million (H1 2024: EUR  -108 million), mainly reflecting the revaluation of certain equity investments and revaluation of financial instruments, partially offset by the evolution of the US dollar. Consolidated net income(1) was EUR  1,525 million (H1 2024: EUR  825 million) with consolidated reported earnings per share of EUR  1.93 (H1 2024: EUR  1.04).

Consolidated free cash flow before customer financing was EUR  -1,610 million (H1 2024: EUR  -529 million), mainly reflecting the planned inventory build-up to support the ramp-up across businesses and the high level of produced commercial aircraft awaiting engines. Consolidated free cash flow totalled EUR  -1,584 million (H1 2024: EUR  -559 million). The gross cash position stood at EUR  21.1 billion at the end of June 2025 (year-end 2024: EUR  26.9 billion), with a consolidated net cash position of EUR  7.0 billion (year-end 2024: EUR  11.8 billion), also reflecting the 2024 dividend payment and the weakening dollar environment.

The Board of Directors has selected Oliver Zipse to become non-executive director of the Company, for submission at the 2026 Airbus Annual General Meeting. Zipse has been serving as Chairman of the Board of Management of BMW AG since 2019. He will bring an extensive industry experience from a distinguished career at BMW AG that has included senior roles in development, technical planning, corporate strategy, and production in Germany, the UK, and South Africa in addition to his CEO tenure.

“We are delighted to put Oliver forward for this role,” said René Obermann, Chairman of the Board of Directors of Airbus SE. “His wealth of global industry experience will be invaluable to the Company as we move forward.”