Airbus SE has released its financial results for the first half of 2025, reporting consolidated revenues of €29.6 billion, a 3% increase compared to the same period in 2024. The company delivered 306 commercial aircraft during this period, which is fewer than the 323 delivered in the first half of last year.
Guillaume Faury, Airbus Chief Executive Officer, commented on the performance: “The commercial performance in the first half of 2025 has been strong across the Company. Our H1 financials reflect transformation progress in our Defence and Space division and the lower commercial aircraft deliveries compared to a year ago. We are producing aircraft in line with our plans but deliveries are backloaded as we face persistent engine supply issues on the A320 programme. The operating environment is complex and fast-changing. On tariffs, the recent political agreement between the EU and the US to revert to a zero-tariff approach for civil aircraft is a welcome development for our industry. Our 2025 guidance, which continues to exclude the impact of tariffs, remains unchanged.”
Gross commercial aircraft orders reached 494 units, up from 327 in H1 2024. Net orders after cancellations stood at 402 aircraft (310 last year), bringing Airbus’s order backlog to 8,754 commercial aircraft by June’s end.
Revenues from Airbus’s core commercial aircraft activities decreased by 2% to €20.8 billion due to lower deliveries. Meanwhile, Airbus Helicopters’ revenues increased by 16% to €3.7 billion with helicopter deliveries rising from 124 units last year to 138 units this year. Revenues at Airbus Defence and Space grew by 17% year-on-year to €5.8 billion.
Consolidated EBIT Adjusted was €2,204 million—up from €1,391 million a year ago—reflecting improved profitability across several divisions despite charges recorded in previous periods related to Space Systems programs.
The A320 Family production ramp-up continues toward a target rate of 75 per month by 2027; however, ongoing supply chain challenges—particularly with Spirit AeroSystems—are affecting schedules for both A350 and A220 programs.
Airbus stated that it is making progress on acquiring certain Spirit AeroSystems work packages but expects regulatory approvals will delay closing until Q4 of this year.
EBIT Adjusted for Airbus Helicopters rose to €249 million (from €230 million) while EBIT Adjusted at Defence and Space reached €265 million after posting negative results last year.
On its military transport program A400M, Airbus highlighted an agreement reached with OCCAR advancing seven deliveries for France and Spain while noting continued uncertainties regarding future order levels.
Research and development expenses fell by about 12%, totaling €1,406 million versus €1,593 million last year.
Reported EBIT amounted to €1,617 million (up from €1,456 million). Net income was reported at €1,525 million or earnings per share of €1.93 compared with net income of €825 million or EPS of €1.04 during H1 last year.
Free cash flow before customer financing was negative at -€1,610 million due mainly to inventory build-up required for ramping up production lines as well as high numbers of completed aircraft awaiting engines. The gross cash position stood at €21.1 billion at June’s end while net cash was reported at €7 billion—a decrease reflecting dividend payments and currency impacts.
For full-year guidance in 2025—excluding any tariff impacts—Airbus aims for around 820 commercial aircraft deliveries along with an EBIT Adjusted near €7 billion and free cash flow before customer financing around €4.5 billion.
In corporate governance developments following these results, Oliver Zipse has been nominated as non-executive director subject to approval at next year’s annual general meeting; Zipse currently serves as Chairman of BMW AG’s Board of Management.
René Obermann, Chairman of the Board of Directors of Airbus SE said: “We are delighted to put Oliver forward for this role… His wealth of global industry experience will be invaluable to the Company as we move forward.”
A live webcast covering these results is available via https://www.airbus.com/en/investors where supporting materials can also be accessed.
