Airbus reports Nine-Month (9m) 2021 results●●●●●●424 commercial aircraft delivered in 9m 2021
9m financials reflect deliveries as well as efforts on cost containment and competitiveness
Revenues € 35.2 billion; EBIT Adjusted € 3.4 billion
EBIT (reported) € 3.4 billion; EPS (reported) € 3.36
Free cash flow before M&A and customer financing € 2.3 billion
2021 guidance unchanged for commercial aircraft deliveries, updated for EBIT Adjusted
and FCF before M&A and customer financing

Amsterdam, 28 October 2021 – Airbus SE (stock exchange symbol: AIR) reported
consolidated financial results for the nine months ended 30 September 2021.
“The nine-month results reflect a strong performance across the company as well as our efforts
on cost containment and competitiveness. As the global recovery continues, we are closely
monitoring potential risks to our industry. We are focused on securing the A320 Family ramp
up and striving to ensure the right industrial and supply chain capabilities are in place,” said
Airbus Chief Executive Officer Guillaume Faury. “Based on our nine-month performance, wehave updated our 2021 earnings and cash guidance. We are strengthening the balance sheet
to secure investment for our long-term ambitions.”
Gross commercial aircraft orders totalled 270 (9m 2020: 370 aircraft) with net orders of 133
aircraft after cancellations (9m 2020: 300 aircraft). The order backlog was 6,894 commercial
aircraft on 30 September 2021. Airbus Helicopters booked 185 net orders (9m 2020: 143 units),including 10 helicopters of the Super Puma Family. Airbus Defence and Space’s order intake
by value was € 10.1 billion (9m 2020: € 8.2 billion) with third quarter orders including 56 C295aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for
the German and Spanish Eurofighter fleets.
Consolidated revenues increased 17 percent to € 35.2 billion (9m 2020: € 30.2 billion), mainlyreflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of
424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341
A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus’ commercial
aircraft activities increased 21 percent, largely reflecting the delivery performance comparedto 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higherdeliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defenceand Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m
2021.
Consolidated EBIT Adjusted – an alternative performance measure and key indicator
capturing the underlying business margin by excluding material charges or profits caused bymovements in provisions related to programmes, restructuring or foreign exchange impacts aswell as capital gains/losses from the disposal and acquisition of businesses – was € 3,369
million (9m 2020: € -125 million).

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The EBIT Adjusted related to Airbus’ commercial aircraft activities totalled € 2,739 million (9m2020: € -641 million), mainly driven by the operational performance linked to deliveries andefforts on cost containment and competitiveness.
The A220 production rate, which is currently at 5 aircraft a month, is expected to increase toaround rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by themiddle of the decade. On the A320 Family programme, the Company is working to secure theramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The
recent commercial successes of the A330 programme enable a monthly rate increase fromaround 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase
from around 5 to around 6 aircraft a month in early 2023.
Airbus Helicopters’ EBIT Adjusted increased to € 314 million (9m 2020: € 238 million), driven
by services, programme execution and lower spending on Research & Development (R&D).
EBIT Adjusted at Airbus Defence and Space increased to € 284 million (9m 2020: € 266million), mainly reflecting the Division’s efforts on cost containment and competitiveness.
Consolidated self-financed R&D expenses totalled € 1,919 million (9m 2020: € 2,032 million).
Consolidated EBIT (reported) amounted to € 3,437 million (9m 2020: € -2,185 million),including net Adjustments of € +68 million.
These Adjustments comprised:●●●€ +190 million related to the A380 programme, of which € +45 million were booked in Q3;€ -165 million related to the dollar pre-delivery payment mismatch and balance sheet
revaluation, of which € +5 million were in Q3;€ +43 million of other Adjustments, including compliance costs, of which € -6 million werein Q3.

The financial result was € -172 million (9m 2020: € -712 million). It mainly reflects the netinterest result of € -233 million partly offset by € +63 million related to the revaluation of theDassault Aviation equity stake. Consolidated net income(2) was € 2,635 million (9m 2020 netloss: € -2,686 million) with consolidated reported earnings per share of € 3.36 (9m 2020 loss
per share: € -3.43).
Consolidated free cash flow before M&A and customer financing was € 2,260 million (9m2020: € -11,798 million), reflecting efforts on cash containment and also included a positive
phasing impact from working capital. Consolidated free cash flow was € 2,308 million (9m2020: € -12,276 million).
On 30 September 2021, the gross cash position stood at € 21.7 billion (year-end 2020: €21.4 billion) with a consolidated net cash position of € 6.7 billion (year-end 2020: € 4.3 billion).
The Company’s liquidity position remains strong, standing at € 27.7 billion at the end of
September 2021. Given the increase in the net cash position and the robust liquidity, a decision

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was taken not to renew the undrawn € 6.2 billion Supplemental Liquidity Line which maturedin September. In the meantime, the maturity of the € 6 billion Revolving Syndicated Credit
Facility has been extended by a year.
OutlookAs the basis for its 2021 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 2021 guidance is before M&A.
On that basis, the Company has updated its 2021 guidance and now targets to achieve in 2021
around:● 600 commercial aircraft deliveries;● EBIT Adjusted of € 4.5 billion;● Free Cash Flow before M&A and Customer Financing of € 2.5 billion.

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Note to editors: Live Webcast of the Analyst Conference Call
At 08:15 CEST on 28 October 2021, you can listen to the 9m 2021 Results Analyst Conference Call w ith Chief
Executive Officer Guillaum e Faury and Chief Financial Officer Dom inik Asam via the Airbus w ebsite
https://w ww.airbus.com. The analyst call presentation can also be found on the w ebsite. A recording w ill be madeavailable in due course. For a reconciliation of Airbus’ KPIs to “reported IFRS” please refer to the analyst
presentation.

Investor Relations
Contacts for the Investors
Hélène Le Gorgeu
Institutionals and Analysts+33 (0)5 67 19 02 64
helene.le-gorgeu@airbus.com

Philippe Gossard
Institutionals and Analysts+33 (0)5 31 08 59 43
philippe.gossard@airbus.com

Goesta Klammt
Institutionals and Analysts+33 (0)5 81 76 80 41
goesta.klammt@airbus.com

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Consolidated Airbus – Nine-Month (9m) 2021 Results(Amounts in Euro)

Consolidated Airbus

9m 20219m 2020

ChangeRevenues, in millions
thereof defence, in millions

35,155
6,577

30,161
6,116

+17%
+8%

EBIT Adjusted, in millions

3,369-125-

EBIT (reported), in millions

3,437-2,185-

Research & Development expenses, inmillions

1,919

2,032-6%

Net Income/Loss(2), in millions

2,635-2,686-

Earnings/Loss Per Share

3.36-3.43-

Free Cash Flow (FCF), in millions

2,308-12,276-

Free Cash Flow before M&A, in millions

2,322-11,756-

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

2,260-11,798-

30 Sept 2021

31 Dec 2020

ChangeNet Cash position, in millions of Euro

6,733

4,312

+56%

Number of employees

125,888

131,349-4%

Consolidated Airbus

For footnotes please refer to page 10.

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By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)9m 20219m 2020

Change9m 20219m 2020

ChangeAirbus24,61820,271+21%

2,889-2,399-

Airbus Helicopters

4,137

3,623

+14%

312238+31%

Airbus Defence andSpace

6,881

6,936

-1%

204-36-

Eliminations-481-669-

32

12+167%

Total

35,15530,161+17%

3,437-2,185-

By Business Segment

EBIT Adjusted(Amounts in millions ofEuro)9m 20219m 2020

ChangeAirbus2,739-641-

Airbus Helicopters

314

238

+32%

Airbus Defence andSpace

284

266

+7%

Eliminations

3212+167%

Total

3,369-125-

By Business Segment

Order Intake (net)

Order Book

9m 20219m 2020

Change30 Sept
2021

30 Sept
2020

ChangeAirbus, in units

133300-56%

6,894

7,441-7%

Airbus Helicopters, inunits

185

143+29%654669-2%

Airbus Defence andSpace, in millions ofEuro

10,134

8,214

+23%

N/A

N/A

N/A

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Consolidated Airbus – Third Quarter (Q3) 2021 Results(Amounts in Euro)
Consolidated Airbus

Q3 2021

Q3 2020

ChangeRevenues, in millions

10,518

11,213-6%

EBIT Adjusted, in millions

666

820

-19%

EBIT (reported), in millions

710-626-Net Income/Loss(2), in millions

404-767-

Earnings/Loss Per Share

0.51-0.98-

By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)

Q3 2021

Q3 2020

ChangeQ3 2021

Q3 2020

ChangeAirbus

6,805

7,738

-12%

502-591-

Airbus Helicopters

1,543

1,290+20%

129

86+50%

Airbus Defence andSpace

2,343

2,385-2%

47-109-Eliminations

-173

-200

-32

-12-

Total

10,518

11,213-6%

710-626-

By Business Segment(Amounts in millions ofEuro)EBIT Adjusted
Q3 2021

Q3 2020

ChangeAirbus448

666-33%

Airbus Helicopters

13186+52%

Airbus Defence andSpace

55

80-31%

Eliminations

32-12-Total

666

820-19%For footnotes please refer to page 10.

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Q3 2021 revenues decreased 6 percent, mainly driven by lower commercial aircraft deliveries
as well as less favourable foreign exchange rates, partially offset by higher revenues at Airbus
Helicopters.
Q3 2021 EBIT Adjusted of € 666 million was mainly driven by the delivery performance. It also
reflects the progressive resumption of activities.
Q3 2021 EBIT (reported) of € 710 million included net Adjustments of € +44 million. NetAdjustments in the third quarter of 2020 amounted to € -1,446 million.
Q3 2021 Net Income of € 404 million mainly reflects EBIT (reported), € -142 million from thefinancial result and € -183 million from income taxes.

EBIT (reported) / EBIT Adjusted Reconciliation
The table below reconciles EBIT (reported) with EBIT Adjusted.
Consolidated Airbus(Amounts in millions of Euro)EBIT (reported)

9m 2021
3,437

thereof:
A380 programme+190$ PDP mismatch/balance
sheet revaluation-165

Others+43

EBIT Adjusted3,369Page | 8Glossary
EBIT

KPI

DEFINITION

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

Adjustm ent

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

EBIT Adjusted

The Company uses an alternative performance m easure, 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 foreign exchange impacts
as w ell as capital gains/losses from the disposal and acquisition of businesses.

EPS Adjusted

EPS Adjusted is an alternative perform ance m easure of basic earnings per share asreported w hereby the net income as the numerator does include Adjustments. For
reconciliation, see the Analyst presentation.

Gross cashposition

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 For the definition of the alternative performance m easure net cash position, see theUniversal Registration Document, MD&A section 2.1.6.
FCF

For the definition of the alternative performance m easure free cash flow , see the Universal
Registration Document, MD&A section 2.1.6.1. It is a key indicator w hich allow s the Companyto measure the amount of cash flow generated from operations after cash used in investingactivities.

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 m easure and key indicator thatreflects free cash flow excluding those cash flow s resulting from acquisitions and disposals ofbusinesses.
FCF before M&A Free cash flow before M&A and customer financing refers to free cash flow before mergers
and custom erand acquisitions adjusted for cash flow related to aircraft financing activities. It is analternative perform ance m easure and indicator that may be used occasionally by thefinancing
Company in its financial guidance, especially w hen there is higher uncertainty aroundcustomer financing activities.

Page | 9Footnotes:1)

One A330 delivered on operating lease w ithout revenue recognition at delivery.

2)

Airbus SE continues to use the term Net Income/Loss. It is identical to Profit/Loss for the period attributable
to equity ow ners of the parent as defined by IFRS Rules.

Safe Harbour Statement:This press release includes forw ard-looking statements. Words such as “anticipates”, “believes”, “estimates”,“expects”, “intends”, “plans”, “projects”, “may” and similar expressions are used to identify these forw ard-looking
statements. Examples of forw ard-looking statements include statements made about strategy, ramp-up and delivery
schedules, introduction of new products and services and market expectations, as w ell as statements regarding
future performance and outlook.
By their nature, forw ard-looking statements involve risk and uncertainty because they relate to future events andcircumstances and there are many factors that could cause actual results and developments to differ materially fromthose expressed or implied by these forw ard-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 betw een the Euro and the U.S. dollar;▪ The successful execution of internal performance plans, including cost reduction and productivity efforts;▪ Product performance risks, as w ell 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 w ith new products;▪ Legal, financial and governmental risks related to international transactions;▪ Legal and investigatory proceedings and other economic, political and technological risks and uncertainties;▪ The full impact of the COVID-19 pandemic and the resulting health and economic crisis.
As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth in suchforw ard-looking statements.
For more information about the impact of the COVID-19 pandemic, see Note 2 “Impact of the COVID-19 pandemic ”
of the Notes to the Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Information for the ninemonth period ended 30 September 2021. For more information about factors that could cause future results to differ
from such forw ard-looking statements, see Airbus SE’s annual reports, including its 2020 Universal Registration
Document and the most recent Risk Factors.
Any forw ard-looking statement contained in this press release speaks as of the date of this press release. Airbus
SE undertakes no obligation to publicly revise or update any forw ard-looking statements in light of new information,
future events or otherw ise.
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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