Airbus reports on its first-half performance: revenues up, Ebit adjusted down

Europe-based global major aerospace group Airbus has reported on its performance during the first half of this calendar year (1H24). While its consolidated group revenues, which came to €28.8-billion, were up 4%, year-on-year, its consolidated earnings before interest and taxes (Ebit) adjusted were significantly lower, over the same period – consolidated Ebit adjusted for 1H24 was €1.391-billion, as against the €2.618-billion recorded in 1H23. (Airbus defined Ebit adjusted as “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”.) The group’s Ebit (reported) came to €1.5-billion. Free cash flow before customer financing was €-0.5-billion. Earnings per share (reported) were €1.04.