Airbus reports Nine-Month (9m) 2022 results● 437(1) commercial aircraft delivered in 9m 2022
● Revenues € 38.1 billion; EBIT Adjusted € 3.5 billion● EBIT (reported) € 3.6 billion; EPS (reported) € 3.26
● Free cash flow before M&A and customer financing € 2.9 billion● 2022 guidance updated for FCF before M&A and customer financing
Amsterdam, 28 October 2022 – Airbus SE (stock exchange symbol: AIR) reported
consolidated financial results for the nine months ended 30 September 2022.
“Airbus delivered a solid nine-month 2022 financial performance in a complex operatingenvironment,” said Guillaume Faury, Airbus Chief Executive Officer. “The supply chain
remains fragile resulting from the cumulative impact of COVID, the war in Ukraine, energy
supply issues and constrained labour markets. Our strong focus on cash flow and thefavourable dollar/euro environment have enabled us to raise our free cash flow guidance for2022. The commercial aircraft delivery and earnings targets are maintained. Our teams arefocused on our key priorities and in particular, delivering the commercial aircraft ramp-up overthe coming months and years.”Gross commercial aircraft orders increased to 856 (9m 2021: 270 aircraft) with net orders of647 aircraft after cancellations (9m 2021: 133 aircraft). The order backlog amounted to 7,294
commercial aircraft at the end of September 2022. Airbus Helicopters registered 246 netorders (9m 2021: 185 units), with bookings well spread across programmes. Airbus Defenceand Space’s order intake by value was € 8.0 billion (9m 2021: € 10.1 billion), corresponding
to a book-to-bill ratio slightly above 1. Third quarter 2022 order intake mainly related toservices across the Division's portfolio.
Consolidated revenues increased to € 38.1 billion (9m 2021: € 35.2 billion). A total of 437(1)commercial aircraft were delivered (9m 2021: 424(2) aircraft), comprising 34 A220s, 340 A320
Family, 21 A330s and 42 A350s(2). Revenues generated by Airbus’ commercial aircraft
activities increased 8 percent year-on-year, mainly reflecting the higher number of deliveries
including a favourable mix and the strengthening of the US dollar. Airbus Helicoptersdelivered 193 units (9m 2021: 194 units), with revenues rising by 9 percent mainly reflecting
growth in services and a favourable mix in programmes. Revenues at Airbus Defence andSpace increased 10 percent, mainly driven by the Military Aircraft business and theEurodrone contract signature. Seven A400M airlifters were delivered in 9m 2022.
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

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as well as capital gains/losses from the disposal and acquisition of businesses – increasedslightly to € 3,481 million (9m 2021: € 3,369 million).
EBIT Adjusted related to Airbus’ commercial aircraft activities increased to € 2,875 million(9m 2021: € 2,739 million). It included the non-recurring positive impact from retirement
obligations recorded in Q1, partly offset by the impact from international sanctions against
Russia. It also reflects a less favourable hedge rate compared to 9m 2021.
On the A320 Family programme, production is progressing towards a monthly rate of 65
aircraft in early 2024 and 75 in 2025. The groundwork continues throughout all sites tosecure rate 75 and adapt to the higher proportion of A321s in the backlog, ensuring all A320
Family Final Assembly Lines become A321 capable. Preparation for the upgrade of thesecond A320 FAL in Toulouse is underway. All three test A321XLRs have now flown, with theaircraft’s entry-into-service expected to take place in Q2 2024. On widebody aircraft, theCompany is exploring, together with its supply chain, the feasibility of further rate increases tomeet growing market demand as international air travel recovers.
Airbus Helicopters’ EBIT Adjusted increased to € 380 million (9m 2021: € 314 million), partly
driven by the growth in services and a favourable mix in programmes. It also reflects
non-recurring elements booked in Q1, including the positive impact related to retirement
obligations.
EBIT Adjusted at Airbus Defence and Space totalled € 231 million (9m 2021: € 284 million).
This decrease mainly reflects the impairment related to the Ariane 6 launcher delay, theimpact of rising inflation in some long-term contracts across the Division’s portfolio and theconsequences of international sanctions, partly offset by the positive impact related toretirement obligations booked in Q1 and Eurodrone.
On the A400M programme, development activities continue towards achieving the revised
capability roadmap. Retrofit activities are progressing in close alignment with the customer.
Risks remain on the qualification of technical capabilities and associated costs, on aircraft
operational reliability, on cost reductions and on securing export orders in time as per therevised baseline.
Consolidated self-financed R&D expenses totalled € 1,965 million (9m 2021: € 1,919million).
Consolidated EBIT (reported) amounted to € 3,552 million (9m 2021: € 3,437 million),including net Adjustments of € +71 million.

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These Adjustments comprised:● € +349 million related to the dollar pre-delivery payment mismatch and balance sheet
revaluation, of which € +123 million were in Q3;● € +33 million related to the A380 programme, of which € +40 million were in Q3;● € -219 million related to the A400M programme, of which € -1 million were in Q3;● € -48 million related to the Aerostructures transformation in France and Germany, of which€ -15 million were in Q3;● € -44 million of other costs including compliance, of which € -10 million were in Q3.
The financial result was € -306 million (9m 2021: € -172 million). It mainly reflects the netinterest result of € -166 million as well as a negative impact from the revaluation of financial
instruments, partly offset by the evolution of the US dollar and the revaluation of certain
equity investments. Consolidated net income(3) was € 2,568 million (9m 2021: € 2,635million) with consolidated reported earnings per share of € 3.26 (9m 2021: € 3.36).
Consolidated free cash flow before M&A and customer financing was € 2,899 million (9m2021: € 2,260 million), reflecting the profit translated into cash and supported by a favourable
foreign exchange environment. Consolidated free cash flow was € 2,502 million (9m 2021: €2,308 million). The 2021 dividend of € 1.50 per share, or € 1.2 billion, was paid in Q2 2022
while pension contributions totalled € 0.5 billion in 9m 2022. On 30 September 2022, thegross cash position stood at € 22.5 billion (year-end 2021: € 22.7 billion) with aconsolidated net cash position(4) of € 8.0 billion (year-end 2021: € 7.7 billion).
OutlookAs the basis for its 2022 guidance, the Company assumes no further disruptions to the world
economy, air traffic, the Company’s internal operations, and its ability to deliver products andservices.
The Company’s 2022 guidance is before M&A.
On that basis,●●The Company maintains its targets to achieve around 700 commercial aircraftdeliveries and around € 5.5 billion of EBIT Adjusted in 2022.
The Company now targets around € 4.5 billion of Free Cash Flow before M&A andCustomer Financing in 2022.

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Note to editors: Live Webcast of the Analyst Conference Call
At 08:00 CEST on 28 October 2022, you can listen to the 9m 2022 Results Analyst Conference Call with Chief
Executive Officer Guillaume Faury and Chief Financial Officer Dominik Asam via the Airbus website
https://www.airbus.com. The analyst call presentation can also be found on the website. A recording will be madeavailable in due course. For a reconciliation of Airbus’ KPIs to “reported IFRS” please refer to the analyst
presentation.

Contacts for the media:
Guillaume Steuer

Rod Stone

Justin Dubon

Airbus+33 (0) 6 73 82 11 68

Airbus+33 (0) 6 30 52 19 93

Airbus+33 (0) 6 74 97 49 51

Martin Agüera

Laurence Petiard

Philippe Gmerek

Airbus Defence and Space+49 (0) 175 227 4369

Airbus Helicopters+33 (0) 6 18 79 75 69

Airbus+33 (0) 6 13 19 37 27

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Consolidated Airbus – Nine-Month (9m) 2022 Results(Amounts in Euro)
Consolidated Airbus

9m 20229m 2021

ChangeRevenues, in millions
thereof defence, in millions

38,1197,541

35,155
6,577+8%+15%

EBIT Adjusted, in millions

3,481

3,369+3%

EBIT (reported), in millions

3,552

3,437+3%

Research & Development expenses, inmillions

1,965

1,919+2%

Net Income(3), in millions

2,568

2,635-3%

Earnings Per Share

3.26

3.36-3%

Free Cash Flow (FCF), in millions

2,502

2,308+8%

Free Cash Flow before M&A, in millions

2,609

2,322+12%

Free Cash Flow before M&A andCustomer Financing, in millions

2,899

2,260

+28%

30 Sept 2022

31 Dec 2021

ChangeNet Cash position(4), in millions of Euro

7,972

7,740+3%

Number of employees

131,615

126,495+4%

Consolidated Airbus

For footnotes please refer to page 10.

Page | 5By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)9m 20229m 2021

Change9m 20229m 2021

ChangeAirbus

26,654

24,618

+8%

3,241

2,889

+12%

Airbus Helicopters

4,515

4,137

+9%

380

312

+22%

Airbus Defence andSpace

7,593

6,881

+10%

-64204-Eliminations-643-481--532-

Total

38,11935,155+8%

3,552

3,437+3%

By Business Segment(Amounts in millions ofEuro)EBIT Adjusted
9m 20229m 2021

ChangeAirbus

2,875

2,739+5%

Airbus Helicopters

380314+21%

Airbus Defence andSpace

231

284

-19%

Eliminations

-532

-

Total

3,481

3,369+3%

By Business Segment

Order Intake (net)

Airbus, in units
Airbus Helicopters, inunits
Airbus Defence andSpace, in millions ofEuro

Order Book

9m 20229m 2021

Change30 Sept
2022

30 Sept2021

Change647

133+386%

7,294

6,894+6%

246

185+33%792

654+21%

7,991

10,134

-21%

N/A

N/A

N/A

Page | 6Consolidated Airbus – Third Quarter (Q3) 2022 Results(Amounts in Euro)

Consolidated Airbus

Q3 2022

Q3 2021

ChangeRevenues, in millions

13,30910,518+27%

EBIT Adjusted, in millions

836

666+26%

EBIT (reported), in millions

973

710

+37%

(3)

Net Income , in millions

667

404+65%

Earnings Per Share

0.85

0.51+67%

By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)

Q3 2022

Q3 2021

ChangeQ3 2022

Q3 2021

ChangeAirbus

9,121

6,805+34%

763

502+52%

Airbus Helicopters

1,771

1,543+15%

165

129+28%

Airbus Defence andSpace

2,537

2,343+8%

4947+4%

Eliminations-120-173-

-432-

Total

13,30910,518

+27%

973

710

+37%

By Business Segment(Amounts in millions ofEuro)EBIT Adjusted
Q3 2022

Q3 2021

ChangeAirbus

599

448

+34%

Airbus Helicopters

165

131+26%

Airbus Defence andSpace

7655+38%

Eliminations-432-Total

836

666

+26%

For footnotes please refer to page 10.

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Q3 2022 revenues increased by 27 percent to € 13,309 million, mainly reflecting higher
commercial aircraft deliveries, including a favourable mix, higher contributions from Airbus
Defence and Space and Airbus Helicopters, and the appreciation of the US dollar.
Q3 2022 EBIT Adjusted increased by 26 percent to € 836 million, mainly reflecting theincreased commercial aircraft deliveries and the higher performance at Airbus Defence andSpace and Airbus Helicopters.
Q3 2022 EBIT (reported) of € 973 million included net Adjustments of € +137 million. Net
Adjustments in the third quarter of 2021 amounted to € +44 million.
Q3 2022 Net Income(3) of € 667 million reflects the EBIT (reported), € -413 million from thefinancial result and € +74 million from income tax.
EBIT (reported) / EBIT Adjusted Reconciliation
The table below reconciles EBIT (reported) with EBIT Adjusted.
Consolidated Airbus(Amounts in millions of Euro)EBIT (reported)

9m 2022
3,552

thereof:$ PDP mismatch/balance
sheet revaluation+349

A380 programme+33

A400M charge-219

Aerostructures transformation-48

Others-44

EBIT Adjusted

3,481

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GlossaryKPIDEFINITIONEBITThe Company continues to use the term EBIT (Earnings before interest and taxes). It is
identical to Profit before finance cost and income taxes as defined by IFRS Rules.

Adjustment

Adjustment, an alternative performance measure, is a term used by the Company which
includes material charges or profits caused by movements in provisions related toprogrammes, restructuring or foreign exchange impacts as well as capital gains/losses fromthe disposal and acquisition of businesses.

EBIT Adjusted

The Company uses an alternative performance measure, EBIT Adjusted, as a key
indicator capturing the underlying business margin by excluding material charges or profits
caused by movements in provisions related to programmes, restructuring or foreignexchange impacts as well as capital gains/losses from the disposal and acquisition ofbusinesses.

EPS Adjusted

EPS Adjusted is an alternative performance measure of basic earnings per share asreported whereby the net income as the numerator does include Adjustments. For
reconciliation, see the Analyst presentation.

Gross cash
position

The Company defines its consolidated gross cash position as the sum of (i) cash and cash
equivalents and (ii) securities (all as recorded in the Consolidated Statement of FinancialPosition).

Net cash position The Company defines its consolidated net cash position as the sum of (i) cash and cash
equivalents and (ii) securities, minus (iii) financing liabilities, plus or minus (iiii) interest rate
contracts related to fair value hedges (all as recorded in the Consolidated Statement of
Financial Position).
FCF

For the definition of the alternative performance measure free cash flow, see the Universal
Registration Document, MD&A section 2.1.6.1. It is a key indicator which allows theCompany to measure the amount of cash flow generated from operations after cash used ininvesting activities.

FCF before M&A Free cash flow before mergers and acquisitions refers to free cash flow as defined in the
Universal Registration Document, MD&A section 2.1.6.1 adjusted for net proceeds fromdisposals and acquisitions. It is an alternative performance measure and key indicator thatreflects free cash flow excluding those cash flows resulting from acquisitions and disposals
of businesses.
FCF before M&A Free cash flow before M&A and customer financing refers to free cash flow before mergers
and customer
and acquisitions adjusted for cash flow related to aircraft financing activities. It is anfinancing
alternative performance measure and indicator that may be used occasionally by theCompany in its financial guidance, especially when there is higher uncertainty aroundcustomer financing activities.

Page | 9Footnotes:1)
2)
3)
4)

Before a reduction of two aircraft previously recorded as sold in December 2021 for which a transfer was notpossible due to international sanctions against Russia.
Two A350s delivered on operating lease in 9m 2022 and one A330 delivered on operating lease in 9m 2021
without revenue recognition at delivery.
Airbus SE continues to use the term Net Income/Loss. It is identical to Profit/Loss for the period attributable toequity owners of the parent as defined by IFRS Rules.
The Company has decided to refine the net cash definition to include interest rate contracts related to fairvalue hedges, which is also reflected in the 9m 2022 balance.

Safe Harbour Statement:This press release includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”,“expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify these forward-looking
statements. Examples of forward-looking statements include statements made about strategy, ramp-up anddelivery schedules, introduction of new products and services and market expectations, as well as statements
regarding future performance and outlook. By their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances and there are many factors that could cause actual
results and developments to differ materially from those expressed or implied by these forward-looking
statements.
These factors include but are not limited to:▪
Changes in general economic, political or market conditions, including the cyclical nature of some of Airbus’businesses;▪
Significant disruptions in air travel (including as a result of the spread of disease or terrorist attacks);▪
Currency exchange rate fluctuations, in particular between the Euro and the U.S. dollar;▪
The successful execution of internal performance plans, including cost reduction and productivity efforts;▪
Product performance risks, as well as programme development and management risks;▪
Customer, supplier and subcontractor performance or contract negotiations, including financing issues;▪
Competition and consolidation in the aerospace and defence industry;▪
Significant collective bargaining labour disputes;▪
The outcome of political and legal processes, including the availability of government financing for certain
programmes and the size of defence and space procurement budgets;▪
Research and development costs in connection with new products;▪
Legal, financial and governmental risks related to international transactions;▪
Legal and investigatory proceedings and other economic, political and technological risks and uncertainties;▪
Changes in societal expectations and regulatory requirements about climate change;▪
The full impact of the COVID-19 pandemic and the resulting health and economic crisis;▪
Aggravation of adverse geopolitical events, including Russia’s invasion of Ukraine and the resulting
imposition of export control restrictions and international sanctions, and rising military tensions around theworld.
As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth insuch forward-looking statements. For more information about the impact of Russia’s invasion of Ukraine, see Note
2 “Ukraine Crisis” of the Notes to the Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial
Statements for the nine-month period ended 30 September 2022. For more information about the impact of theCOVID-19 pandemic, see Note 3 “Impact of the COVID-19 Pandemic” of the Notes to the Airbus SE Unaudited
Condensed Interim IFRS Consolidated Financial Statements for the nine-month period ended 30 September
2022. For more information about factors that could cause future results to differ from such forward-looking
statements, see Airbus SE’s annual reports, including its 2021 Universal Registration Document filed on 6 April
2022 and the most recent Risk Factors. Any forward-looking statement contained in this press release speaks asof the date of this press release. Airbus SE undertakes no obligation to publicly revise or update any
forward-looking statements in light of new information, future events or otherwise.

Rounding
Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may notprecisely reflect the absolute figures.
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