The following is a summary of the Airbus SE (EADSF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Airbus reported Q1 2024 revenues of €12.8 billion, up 9% year-on-year due to a higher number of commercial aircraft deliveries.
Free cash flow before customer financing was at a negative €1.8 billion, driven mainly by changes in working capital and planned inventory buildup.
EBIT Adjusted decreased to €0.6 billion from €0.8 billion in Q1 2023, reflecting investments made for future growth.
Despite this, 2024 guidance remains unchanged with Airbus targeting approximately 800 commercial aircraft deliveries, €6.5 billion to €7 billion in EBIT adjusted, and around €4 billion in free cash flow before customer financing.
Business Progress:
Airbus delivered 142 aircraft in Q1 2024, a 12% increase from the previous year, showcasing good commercial progress.
The company entered a partnership with Tata Group to establish a final assembly line in India, aiming to expand their operations in the Indian civil market and export to neighboring countries.
Airbus had solid order intake in its Defense and Space business in Q1, including contracts for F-100s and services.
Airbus reported positive production progress, including the ahead of schedule delivery of the first A321 from Toulouse to Pegasus Airlines.
Production activities in India are accelerating, with significant growth in staffing and business operations.
An increase in A350 production rates to 12 by 2028 has been decided to accommodate greater demand.
A transformative program is being implemented in Airbus's Defense and Space division.
More details: AIRBUS SE IR
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