Airbus Reports €13.5 Billion in Q1 2025 Revenue, Confirms Outlook Despite Supply Chain Pressures
Airbus released its consolidated financial results for the first quarter ended March 31, 2025, reporting revenues of €13.5 billion, a 6% increase compared to €12.8 billion in Q1 2024.
Commercial aircraft deliveries saw a slight decline, totaling 136 units, down from 142 in the same quarter last year. Deliveries included 17 A220s, 106 A320 Family aircraft, 4 A330s, and 9 A350s.
Guillaume Faury, CEO of Airbus, commented: “Our first-quarter results demonstrate the progress we’re making on our business priorities.” He added that production is ramping up as planned, but delivery volumes will be backloaded toward the end of the year due to ongoing supply chain challenges. Faury also cited uncertainty around tariffs, stating it is too early to quantify their impact.
On the commercial side, Airbus recorded 280 gross aircraft orders, up from 170 in Q1 2024, with 204 net orders after cancellations. The backlog stood at 8,726 commercial aircraft at the end of March 2025.
Commercial aircraft revenue rose by 4% to €9.5 billion, driven by a favorable foreign exchange environment, although partially offset by lower delivery volumes. The Adjusted EBIT for this segment remained steady at €494 million (vs. €507 million in Q1 2024).
Despite persistent supply chain issues, Airbus reaffirmed its production ramp-up plans. The A320 Family program continues on track to reach 75 aircraft per month by 2027. The A330 production rate remains steady at around four aircraft per month. However, pressure persists on A350 and A220 output, due to specific supply challenges, particularly with Spirit AeroSystems. Airbus maintains its targets of 12 A350s per month by 2028 and 14 A220s per month by 2026.
Airbus Helicopters and Defence and Space
Airbus Helicopters secured 100 net orders (up from 63) and delivered 51 units (vs. 50 in Q1 2024). Revenue rose 10% to €1.6 billion, with Adjusted EBIT of €78 million (vs. €71 million). In March, Airbus launched the new H140 multirole helicopter, which has already received its first orders and commitments.
Airbus Defence and Space saw order intake rise to €2.6 billion (from €2 billion), and revenue grow 11% to €2.7 billion. The segment’s Adjusted EBIT improved significantly to €77 million, up from −€9 million in Q1 2024, supported by higher volumes and better profitability in Air Power and Connected Intelligence services.
Regarding the A400M program, Airbus continues constructive discussions with customer nations and OCCAR (Organisation for Joint Armament Cooperation) on future production planning and is assessing the impact of order uncertainty on manufacturing activities.
On the defense front, Faury reaffirmed Airbus' support for European defense industry strengthening, stating: “We are ready with our broad portfolio of products and solutions to meet customer needs.”
Consolidated Financial Results and 2025 Outlook
Adjusted EBIT across all divisions stood at €624 million, up 8% from €577 million in Q1 2024. Reported EBIT was €473 million, down from €609 million, including net adjustments of −€151 million, primarily:
- €13 million from dollar-denominated working capital mismatches
- €105 million related to workforce adjustments in Defence and Space
- €33 million in other costs
Financial result rose sharply to €621 million (vs. €229 million), mainly from the revaluation of certain equity investments. Net profit increased to €793 million (vs. €595 million), with earnings per share (EPS) at €1.01 (vs. €0.76).
Free cash flow before customer financing was −€310 million, a substantial improvement from −€1.79 billion in Q1 2024, reflecting planned inventory build-up to support production ramp-up and commercial momentum. Gross cash stood at €26.1 billion, with net cash at €11 billion by quarter’s end.
Airbus maintained its full-year 2025 guidance, which excludes tariff impacts and includes preliminary estimates for the integration of certain Spirit AeroSystems work packages, assuming the deal closes in Q3 2025. Targets include:
~820 commercial aircraft deliveries
Adjusted EBIT of ~€7 billion
Free cash flow before customer financing of ~€4.5 billion
These projections are contingent on no further global economic, air traffic, or supply chain disruptions.
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