Photo: Airbus

Revenue for Airbus Defence and Space was down 2% in the third quarter of 2021 compared to the same time last year, but order intake for the year is up 23% compared to last year, due to military aircraft orders. 

Order intake for the segment stands at 10.1 billion euros ($11.8 billion). The company highlighted defense orders of 56 C295 aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for the German and Spanish Eurofighter fleets. 

Airbus Defence and Space reported 2.3 billion euros in revenue ($2.7 million) for Q3 in the company’s financial results released Thursday. For the nine-month period, the segment has broadly stable year-on-year revenues. 

Overall, Airbus saw a 6% dip in revenues for the quarter, which the company said was driven by lower commercial aircraft deliveries and less favorable foreign exchange rates, partially offset by higher revenues at Airbus Helicopters. Revenue was 10.5 billion euros for the quarter ($12.3 billion). Net income was 404 million euros, ($472 million). 

Yet for the nine-month period, revenue for the full company is up 17% at 35.2 billion euros ($41 billion), because of higher commercial aircraft deliveries compared to the same time period in 2020. 

“The nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place,” said Airbus Chief Executive Officer Guillaume Faury. 

Airbus raised its guidance to adjusted EBIT of 4.5 billion euros ($5.3 billion), up from 4 billion euros ($4.7 billion) in the prior quarter. Free cash flow before M&A and customer financing is expected to be 2.5 billion euros ($2.9 billion), up from 2 billion euros ($2.3 billion) in the prior quarter.

In the company’s financial results report, Airbus reported that employees of Airbus Defence and Space GmbH in Germany potentially received “improper advance receipt and communication of confidential customer information” related to future German government procurement projects. The self-disclosure by the Company followed an internal review with the support of an unnamed law firm.

Airbus Defence and Space GmbH was fined 10 million euros by federal prosecutors in Munich for “negligent violation of supervisory duties” in connection with this matter. Airbus said that it is fully cooperating with the investigation.