Airbus reports Half-Year (H1) 2024 results● 323 commercial aircraft delivered● Revenues € 28.8 billion; EBIT Adjusted € 1.4 billion● EBIT (reported) € 1.5 billion; EPS (reported) € 1.04
● Free cash flow before customer financing € -0.5 billion● 2024 guidance as per June update
Amsterdam, 30 July 2024 – Airbus SE (stock exchange symbol: AIR) reported consolidated
financial results for the Half-Year (H1) ended 30 June 2024.
“The half-year financial performance mainly reflects significant charges in our spacebusiness. We are addressing the root causes of these issues,” said Guillaume Faury, Airbus
Chief Executive Officer. “In commercial aircraft, we are focused on deliveries and preparing
the next steps of the ramp-up, while addressing specific supply chain challenges andprotecting the sourcing of key work packages.”
Gross commercial aircraft orders totalled 327 (H1 2023: 1,080 aircraft) with net orders of 310
aircraft after cancellations (H1 2023: 1,044 aircraft). The order backlog amounted to 8,585
commercial aircraft at the end of June 2024. Airbus Helicopters registered 233 net orders (H12023: 131 units), including 38 H225s for the German Federal Police in the second quarter.
Airbus Defence and Space’s order intake by value was € 6.1 billion (H1 2023: € 6.0 billion).
Consolidated revenues increased 4 percent year-on-year to € 28.8 billion (H1 2023: € 27.7billion), mainly reflecting the number of commercial aircraft deliveries and a higher volume in
the Air Power business of Airbus Defence and Space. A total of 323 commercial aircraft weredelivered (H1 2023: 316 aircraft), comprising 28 A220s, 261 A320 Family, 13 A330s and 21
A350s. Revenues generated by Airbus’ commercial aircraft activities increased 4 percent,mainly reflecting the higher number of deliveries. Airbus Helicopters’ deliveries totalled 124units (H1 2023: 145 units) with revenues broadly stable year-on-year, reflecting a solidperformance, notably in services. Revenues at Airbus Defence and Space increased 7percent, mainly driven by the Air Power business, partly offset by the recent update of
Estimates at Completion assumptions in Space Systems. Four A400M military airlifters weredelivered in H1 2024 (H1 2023: 3 aircraft).
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 – was € 1,391
million (H1 2023: € 2,618 million). This decrease primarily reflects the charges recorded in
the Space Systems business of € 989 million.

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EBIT Adjusted related to Airbus’ commercial aircraft activities decreased to € 1,954 million(H1 2023: € 2,256 million), with the increase in deliveries reduced by investments forpreparing the future.
The A220 ramp-up continues towards a monthly production rate of 14 aircraft in 2026, with afocus on the programme's industrial maturity and financial performance. In addition, on 24
June 2024, in line with agreements in place and as planned, the Company andInvestissement Québec agreed to provide shareholder financing for the Airbus Canada
Limited Partnership. As announced in June 2024, the A320 Family ramp-up trajectory has
been adjusted to reflect specific supply chain challenges. The production rate of 75 A320
Family aircraft per month is now expected in 2027. The A321XLR powered by CFM engines
received its Type Certification from the European Union Aviation Safety Agency (EASA)
earlier in July. Entry-into-service is expected at the end of the summer 2024. On widebody
aircraft, the Company continues to target a monthly production rate of 4 A330s in 2024 andrate 12 for the A350 in 2028.
Airbus Helicopters’ EBIT Adjusted decreased to € 230 million (H1 2023: € 274 million),reflecting the lower deliveries and programme mix.
EBIT Adjusted at Airbus Defence and Space totalled € -807 million (H1 2023: € 78 million),reflecting the € 989 million of charges mainly linked to the updated Estimates at Completionin Space Systems.
On the A400M programme, development activities continue towards achieving the revised
capability roadmap. Retrofit activities are progressing in close alignment with the customer.
No net material impact was recognised in the first half of 2024. Risks remain on thequalification of technical capabilities and associated costs, on aircraft operational reliability,
on cost reductions and on securing overall volume as per the revised baseline.
Consolidated self-financed R&D expenses totalled € 1,593 million (H1 2023: € 1,431
million).
Consolidated EBIT (reported) amounted to € 1,456 million (H1 2023: € 1,887 million),including net Adjustments of € +65 million.
These Adjustments comprised:● € +19 million related to the dollar working capital mismatch and balance sheet revaluation,of which € +32 million were in Q2. This mainly reflects the phasing impact arising from thedifference between transaction date and delivery date;● € +51 million related to the gain on Airbus OneWeb Satellites, linked to the acquisition of
the remaining 50% of the joint venture in Q1;● € -5 million of other costs including compliance costs, of which € +1 million were in Q2.
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The financial result was € -108 million (H1 2023: € 102 million), mainly reflecting the negative
impact from the revaluation of certain equity investments. Consolidated net income(1) was €825 million (H1 2023: € 1,526 million) with consolidated reported earnings per share of €1.04 (H1 2023: € 1.94).
Consolidated free cash flow before customer financing was € -529 million (H1 2023: €1,635 million), mainly driven by the change in working capital which includes the planned
inventory build-up to support the ramp-up plan. Consolidated free cash flow was € -559
million (H1 2023: € 1,593 million). The gross cash position stood at € 21.9 billion at the endof June 2024 (year-end 2023: € 25.3 billion), with a consolidated net cash position of € 7.9billion (year-end 2023: € 10.7 billion) after the payments of the 2023 dividend and specialdividend.
OutlookAs the basis for its 2024 guidance, the Company assumes no additional disruptions to theworld economy, air traffic, the supply chain, the Company’s internal operations, and its ability
to deliver products and services.
The Company’s 2024 guidance is before M&A.
On that basis, the Company targets to achieve in 2024:●●●

Around 770 commercial aircraft deliveries;
EBIT Adjusted of around € 5.5 billion;
Free Cash Flow before Customer Financing of around € 3.5 billion.

Page | 3Note to editors: Live Webcast of the Analyst Conference CallAt around 19:30 CEST on 30 July 2024, you can follow the H1 2024 Results Analyst Conference Call via theAirbus website at https://www.airbus.com/en/investors. The analyst call presentation can also be found on thewebsite. A recording will be made available 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

Commercial Aircraft+33 (0) 6 74 97 49 51

Martin Agüera

Laurence PetiardPhilippe 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 – Half-Year (H1) 2024 Results(Amounts in Euro)
Consolidated Airbus

H1 2024

H1 2023

ChangeRevenues, in millions
thereof defence, in millions

28,825
5,155

27,6634,772+4%+8%EBIT Adjusted, in millions

1,391

2,618

-47%

EBIT (reported), in millions

1,456

1,887

-23%

Research & Development expenses, inmillions

1,593

1,431+11%

Net Income(1), in millions825

1,526-46%

Earnings Per Share

1.04

1.94-46%

Free Cash Flow (FCF), in millions

-559

1,593

-

Free Cash Flow before Customer
Financing, in millions-529

1,635-

30 June 2024

31 Dec. 2023

ChangeNet Cash position, in millions of Euro

7,934

10,726-26%

Number of employees

154,581

147,893+5%Consolidated Airbus

For footnotes please refer to page 10.

Page | 5By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)

H1 2024

H1 2023

ChangeH1 2024

H1 2023

ChangeAirbus

21,215

20,349+4%1,972

1,523

+29%

Airbus Helicopters

3,191

3,1940%230

267-14%

Airbus Defence andSpace

4,985

4,653

+7%

-760

87-

Eliminations

-566

-533

-

1410+40%

Total

28,82527,663

+4%

1,456

1,887

-23%

By Business Segment

EBIT Adjusted(Amounts in millions ofEuro)

H1 2024

H1 2023

ChangeAirbus

1,954

2,256-13%

Airbus Helicopters

230274-16%

Airbus Defence andSpace

-807

78-

Eliminations

1410+40%

Total

1,391

2,618-47%

By Business Segment

Order Intake (net)

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

Order Book

H1 2024

H1 2023

Change30 June
2024

30 June2023

Change310

1,044-70%

8,585

7,967

+8%

233

131+78%

913

743

+23%

6,059

6,038

0%

N/A

N/A

N/A

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Consolidated Airbus – Second Quarter (Q2) 2024 Results(Amounts in Euro)

Consolidated Airbus

Q2 2024

Q2 2023

ChangeRevenues, in millions

15,995

15,900+1%

EBIT Adjusted, in millions

814

1,845-56%

EBIT (reported), in millions

847

1,497-43%

Net Income(1), in millions

230

1,060-78%

Earnings Per Share

0.291.34-78%

By Business Segment

Revenues

EBIT (reported)(Amounts in millions ofEuro)

Q2 2024

Q2 2023

ChangeQ2 2024

Q2 2023

ChangeAirbus12,048

12,239

-2%

1,472

1,326

+11%

Airbus Helicopters

1,730

1,596

+8%

159

111

+43%

Airbus Defence andSpace

2,586

2,354

+10%

-790

51-Eliminations

-369

-289

-69-33%

Total

15,995

15,900

+1%

847

1,497

-43%

By Business Segment(Amounts in millions ofEuro)
AirbusAirbus Helicopters
Airbus Defence andSpaceEBIT Adjusted
Q2 2024

Q2 2023

Change

1,447
159

1,676
118

-14%+35%-798

42-Eliminations

69-33%

Total

814

1,845-56%

For footnotes please refer to page 10.

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Q2 2024 revenues were broadly stable, with higher volume in Air Power as well as the solid
performance in Airbus Helicopters, notably in services, being reduced by lower commercial
aircraft deliveries.
Q2 2024 EBIT Adjusted decreased by 56 percent, mainly reflecting the charges recorded inSpace Systems programmes as well as the lower commercial aircraft deliveries.
Q2 2024 EBIT (reported) of € 847 million included net Adjustments of € +33 million. NetAdjustments in the second quarter of 2023 amounted to € -348 million.
Q2 2024 Net Income(1) of € 230 million mainly reflects the EBIT (reported), € -337 million
from the financial result and € -329 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)

H1 2024
1,456

thereof:$ working capital mismatchand balance sheet revaluation+19

Airbus OneWeb Satellites gain+51

Others-5

EBIT Adjusted

1,391Page | 8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 a 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 ofFinancial Position).
Free Cash Flow(FCF)

An alternative performance measure and key indicator which allows the Company tomeasure the amount of cash flow generated by its operations. The Company defines freecash flow as the sum of (i) cash provided by operating activities and (ii) investments inintangible and fixed assets (net) & dividends paid by companies valued at equity, minus (iii)
contribution to plan assets of pension schemes, (iv) realised foreign exchange results ontreasury swaps and (v) change in cash from changes in consolidation.

FCF before
Customer
Financing

FCF before Customer Financing refers to free cash flow adjusted for cash flow related toaircraft financing activities. It is an alternative performance measure and indicator used by
the Company in its financial guidance.

Page | 9Footnotes:1)

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.

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-lookingstatements. 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 lingering effects of the COVID-19 pandemic;▪
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 and the impact of the Macroeconomic
Environment, see note 2 “Geopolitical and Macroeconomic Environment” of the Notes to the Airbus SE Unaudited
Condensed Interim IFRS Consolidated Financial Statements for the six-month period ended 30 June 2024
published 30 July 2024 (the “Financial Statements”). For more information about factors that could cause future
results to differ from such forward-looking statements, please refer to Airbus SE’s most recent annual reports,
including the Report of the Board of Directors, the Financial Statements and the Notes thereto, the UniversalRegistration 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 forward-looking statement 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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