Airbus reports strong Full-Year (FY) 2021 results● 611 commercial aircraft delivered in 2021
● Financials reflect strong operational performance group-wide● Revenues € 52.1 billion; EBIT Adjusted € 4.9 billion; EBIT (reported) € 5.3 billion● Free cash flow before M&A and customer financing € 3.5 billion; Net cash € 7.6 billion● Record net income of € 4.2 billion; EPS (reported) € 5.36
● Dividend proposal: € 1.50 per share● 2022 guidance issued
Amsterdam, 17 February 2022 – Airbus SE (stock exchange symbol: AIR) reportedconsolidated Full-Year (FY) 2021 financial results and provided guidance for 2022.
“2021 was a year of transition, where our attention shifted from navigating the pandemic
towards recovery and growth. Thanks to the resilience and efforts of our teams, customers andsuppliers, we delivered remarkable full-year results,” said Guillaume Faury, Airbus Chief
Executive Officer. “The strong financials reflect the higher number of commercial aircraft
deliveries, the good performance of our Helicopters and Defence and Space businesses aswell as our efforts on cost containment and competitiveness. Record net income and our efforts
to strengthen the net cash position underpin our proposal to reintroduce dividend payments
going forward. At the same time, we continue to invest in our strategic priorities and in thetransformation of our company.”
Gross commercial aircraft orders totalled 771 (2020: 383 aircraft) with net orders of 507 aircraft
after cancellations (2020: 268 aircraft). Included were the first A350 freighter orders, confirming
customer demand for this new programme. The order backlog was 7,082 commercial aircraft
on 31 December 2021 (end 2020: 7,184 aircraft). Airbus Helicopters booked 414 net orders(2020: 268 units), achieving a book-to-bill ratio well above 1 both in terms of units and in value.
These included 52 H160s of which 30 were the first batch of H160M military versions forFrance’s Joint Light Helicopter programme. Airbus Defence and Space’s order intake by value
increased to € 13.7 billion (2020: € 11.9 billion), representing a book-to-bill ratio of around 1.3.
Included were key orders in the Military Aircraft business such as the in-service support of theGerman and Spanish Eurofighter fleets as well as good export momentum for the C295, A330
MRTT and A400M airlifter.
Consolidated order intake by value increased to € 62.0 billion (2020: € 33.3 billion) with theconsolidated order book valued at € 398 billion on 31 December 2021 (year-end 2020: € 373billion). The increase in the backlog value mainly reflected the strengthening US dollar.
Consolidated revenues increased 4 percent to € 52.1 billion (2020: € 49.9 billion), mainlyreflecting the higher number of commercial aircraft deliveries, partially offset by less favourable
foreign exchange rates. A total of 611 commercial aircraft were delivered (2020: 566 aircraft),comprising 50 A220s, 483 A320 Family, 18 A330s(1), 55 A350s and 5 A380s. Revenues
generated by Airbus’ commercial aircraft activities increased 6 percent, largely reflecting thePage | 1higher deliveries compared to 2020. Airbus Helicopters delivered 338 units (2020: 300 units),including the first H160, with revenues rising 4 percent reflecting growth in services and thehigher deliveries. Revenues at Airbus Defence and Space decreased by 2 percent, mainlydriven by Military Aircraft, partially offset by Space Systems. Eight A400M aircraft weredelivered in 2021.
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 aswell as capital gains/losses from the disposal and acquisition of businesses – was € 4,865
million (2020: € 1,706 million).
The EBIT Adjusted related to Airbus’ commercial aircraft activities increased to € 3,570 million(2020: € 618 million), mainly driven by the delivery performance and efforts on cost
containment and competitiveness.
Commercial aircraft production is progressing in line with previously announced plans, in acomplex environment. Specifically on the A320 Family, the ramp-up is on trajectory to achieverate 65 by summer 2023 and the Company continues to de-risk notably by enabling all
assembly sites to become A321-ready. For A320 Family production rates beyond 2023, theCompany is still in the assessment phase and working with suppliers to potentially enable anincrease above rate 65.
Airbus Helicopters’ EBIT Adjusted increased to € 535 million (2020: € 471 million), mainly
driven by support and services, programme execution and cost focus.
EBIT Adjusted at Airbus Defence and Space increased to € 696 million (2020: € 660 million),reflecting continued cost containment.
On the A400M programme, development activities continued toward achieving the revised
capability roadmap. Retrofit activities are progressing in close alignment with the customer. In
the fourth quarter of 2021, a charge of € 0.2 billion was recorded mainly reflecting the updated
estimates of the delivery pattern of the launch contract. This is reflected in EBIT reported.
Consolidated self-financed R&D expenses totalled € 2,746 million (2020: € 2,858 million).
Consolidated EBIT (reported) amounted to € 5,342 million (2020: € -510 million), including net
Adjustments of € +477 million.

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These Adjustments comprised:● € +274 million related to the A380 programme, of which € +84 million were in Q4;● € +122 million gain from the sale of one site in France, recorded in Q4;● € -212 million related to the A400M, of which € -209 million were in Q4;● € -38 million negative impact from foreign exchange and balance sheet revaluation, ofwhich € +127 million were in Q4;● € +331 million of other Adjustments including mainly around € 0.2 billion of provision
release related to the restructuring plan, and payments by suppliers. € +285 million werebooked in Q4.
The financial result was € -315 million (2020: € -620 million). It mainly reflects the net interest
result of € -246 million as well as the revaluation of financial instruments and of certain equityinvestments. Consolidated net income(2) was € 4,213 million (2020 net loss: € -1,133 million)
with consolidated reported earnings per share of € 5.36 (2020 loss per share: € -1.45).
Consolidated free cash flow before M&A and customer financing was € 3,515 million (2020:€ -6,935 million), reflecting efforts on cash containment and a decrease in working capital,mainly driven by inventory improvement. Consolidated free cash flow was € 3,511 million(2020: € -7,362 million).
On 31 December 2021, the gross cash position stood at € 22.7 billion (year-end 2020: € 21.4billion) with a consolidated net cash position of € 7.6 billion (year-end 2020: € 4.3 billion). The
Company’s liquidity position remains strong, standing at € 28.7 billion at the end of 2021.
The Board of Directors will propose the payment of a 2021 dividend of € 1.50 per share to the2022 Annual General Meeting. The payment date is 21 April 2022.
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 targets to achieve in 2022 around:●●●720 commercial aircraft deliveries;
EBIT Adjusted of € 5.5 billion;
Free Cash Flow before M&A and Customer Financing of € 3.5 billion.

Note to editors: Live Webcast of the Analyst Conference Call and Annual Press Conference

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At 07:30 CET on 17 February 2022, you can listen to the FY 2021 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.
The Annual Press Conference on the 2021 Results starts at 09:15 CET on 17 February 2022 and is also webcast
live via the Airbus website.

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

Page | 4Consolidated Airbus – Full-Year (FY) 2021 Results(Amounts in Euro)
Consolidated Airbus

FY 2021

FY 2020

ChangeRevenues, in millions
thereof defence, in millions

52,1499,175

49,912
10,517+4%-13%

EBIT Adjusted, in millions

4,865

1,706+185%

EBIT (reported), in millions

5,342-510-

Research & Development expenses, inmillions

2,746

2,858-4%

Net Income/Loss(2), in millions

4,213-1,133-

Earnings/Loss Per Share

5.36-1.45-Free Cash Flow (FCF), in millions

3,511-7,362-

Free Cash Flow before M&A, in millions

3,543-6,811-

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

3,515-6,935-

Dividend per share(3)

1.50

--

Order Intake, in millions

62,00733,290+86%

Consolidated Airbus

31 Dec 2021

31 Dec 2020

ChangeOrder book, in millions of Euro
thereof defence, in millions of Euro

398,439
43,110373,127
38,587+7%+12%Net Cash position, in millions of Euro

7,643

4,312+77%

Number of employees

126,495

131,349-4%

For footnotes please refer to page 10.

Page | 5By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)FY 2021

FY 2020

ChangeFY 2021

FY 2020

ChangeAirbus36,16434,250+6%

4,175-1,330-

Airbus Helicopters

6,509

6,251+4%

535

455

+18%

Airbus Defence andSpace

10,186

10,446-2%

568

408

+39%

Eliminations-710-1,035-

64-43-

Total

52,14949,912+4%5,342-510-

By Business Segment

EBIT Adjusted(Amounts in millions ofEuro)FY 2021

FY 2020

ChangeAirbus3,570

618+478%

Airbus Helicopters

535

471

+14%Airbus Defence andSpace

696

660+5%

Eliminations

64-43-Total

4,865

1,706+185%

By Business Segment

Order Intake (net)

Order Book

FY 2021

FY 2020

Change31 Dec
2021

31 Dec2020

ChangeAirbus, in units

507

268

+89%

7,082

7,184

-1%

Airbus, in millions ofEuro

40,00416,089+149%

345,101

324,675+6%

Airbus Helicopters, inunits

414

268

+54%

739

663

+11%

Page | 6

Airbus Helicopters, inmillions of Euro

8,552

5,519

+55%

17,985

15,782+14%

Airbus Defence andSpace, in millions ofEuro

13,656

11,862+15%

36,13133,505+8%Page | 7

Consolidated Airbus – Fourth Quarter (Q4) 2021 Results(Amounts in Euro)

Consolidated Airbus

Q4 2021

Q4 2020

ChangeRevenues, in millions

16,99419,751-14%

EBIT Adjusted, in millions

1,496

1,831

-18%

EBIT (reported), in millions

1,905

1,675+14%

Net Income(2), in millions

1,578

1,553+2%

Earnings Per Share

2.01

1.98+2%By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)

Q4 2021

Q4 2020

ChangeQ4 2021

Q4 2020

ChangeAirbus

11,546

13,979

-17%

1,286

1,069+20%

Airbus Helicopters

2,372

2,628-10%

223

217

+3%

Airbus Defence andSpace

3,305

3,510-6%

364

444

-18%

Eliminations-229-366-

32-55-Total

16,99419,751

-14%

1,905

1,675

+14%

By Business Segment(Amounts in millions ofEuro)EBIT Adjusted
Q4 2021

Q4 2020

ChangeAirbus

831

1,259-34%

Airbus Helicopters

221

233

-5%

Airbus Defence andSpace

412

394

+5%

Eliminations

32-55-Total

1,496

1,831

-18%

For footnotes please refer to page 10.

Q4 2021 revenues decreased by 14%, mainly driven by lower commercial aircraft deliveries
compared to the fourth quarter of 2020 as well as lower revenues at Airbus Helicopters and at
Airbus Defence and Space.

Page | 8

Q4 2021 EBIT Adjusted declined by 18% to € 1,496 million, mainly reflecting the lower
commercial aircraft deliveries as well as a negative year-on-year impact from currency
hedging.
Q4 2021 EBIT (reported) of € 1,905 million included net Adjustments of € +409 million. Net
Adjustments in the fourth quarter of 2020 amounted to € -156 million.
Q4 2021 Net Income of € 1,578 million mainly reflects the EBIT (reported), € -143 million fromthe financial result and the low effective tax rate.

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

FY 2021
5,342

thereof:
A380 programme+274

Gain on disposal+122

A400M charge-212$ PDP mismatch/balance
sheet revaluation-38

Others+331

EBIT Adjusted

4,865

Page | 9

GlossaryKPIDEFINITIONEBITThe Company continues to use the term EBIT (Earnings before interest and taxes). It isidentical to Profit before finance result 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 bymovements in provisions related to programmes, restructuring or foreign exchange impacts
as well as capital gains/losses from the disposal and acquisition of businesses.

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

For the definition of the alternative performance measure free cash flow, see the UniversalRegistration Document, MD&A section 2.1.6.1. It is a key indicator which allows the Company
to 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 theUniversal 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 ofbusinesses.
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 | 10Footnotes:
1)

Two A330s delivered on operating lease without 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 owners of the parent as defined by IFRS Rules.

3)

To be proposed to the Annual General Meeting on 12 April 2022.

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 and delivery
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 anddevelopments 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.
As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth in suchforward-looking statements. For more information about the impact of the COVID-19 pandemic, see Note 2 “Impactof the COVID-19 pandemic” of the Notes to the Airbus SE Unaudited Condensed IFRS Consolidated FinancialStatements published 17 February 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 Universal Registration
Document and the most recent Risk Factors. Any forward-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 forwardlooking 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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