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Airbus (AIR) investor relations material
Airbus Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary30 Jul, 2025
Executive summary
Delivered 306 commercial aircraft in H1 2025, with revenues of €29.6 billion and EBIT Adjusted of €2.2 billion, reflecting strong commercial momentum and transformation progress in Defence and Space.
Net income rose 85% year-over-year to €1,525 million, with reported EPS of €1.93 and adjusted EPS of €2.15.
Free cash flow before customer financing was negative €1.6 billion, mainly due to inventory build-up, engine supply issues, and shareholder returns.
Order backlog reached 8,754 commercial aircraft, with net commercial orders up 30% year-over-year and robust order intake across all segments.
Transformation in Defence and Space is progressing, with improved profitability and key contracts secured.
Financial highlights
H1 2025 revenues rose 3% year-over-year to €29.6 billion, driven by higher services and Defence & Space volumes, partially offset by fewer commercial aircraft deliveries.
EBIT Adjusted increased to €2.2 billion from €1.4 billion in H1 2024, with margin up to 7.4%; reported EBIT was €1.6 billion.
Net income reached €1.5 billion, with EPS up to €1.93; adjusted EPS at €2.15.
Free cash flow before customer financing was €-1.6 billion, compared to €-0.5 billion in H1 2024, due to inventory build-up.
Net cash position stood at €7.0 billion as of June 2025, down from €11.8 billion at year-end 2024.
Outlook and guidance
2025 guidance remains unchanged: targeting around 820 commercial aircraft deliveries, EBIT Adjusted of €7.0 billion, and free cash flow before customer financing of €4.5 billion.
Guidance excludes the impact of tariffs and assumes no major disruptions to global trade, supply chain, or operations.
Integration of Spirit AeroSystems work packages is expected to close in Q4 2025, with anticipated impacts in line with previous estimates.
Delivery profile expected to be back-end loaded, with normalization anticipated in the second half of 2025.
Explain A320 engine supply issues impact.
Assess A400M program discussion status.
How does Spirit AeroSystems affect A350/A220?
Assess A320 engine delivery confidence.
How will Spirit closing delay impact A350?
Explain drivers of H1 Defense & Space growth.
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Frequently asked questions
Buses for the Air
Airbus SE is a European aerospace corporation with multinational operations and one of the aviation industry's leaders. The company designs, manufactures, and sells commercial aircraft, including airplanes and helicopters. Besides this Airbus is also active in the defense and space sectors, albeit at a smaller scale than their commercial operations. The company is headquartered in Leiden in the Netherlands, and its shares are listed in France, Germany, and Spain.
The World’s First Twin Engine Wide Body Jet
Airbus was established as a consortium of various European aerospace manufacturers in 1970, aiming to challenge American companies' dominance in the commercial airliner market. The consortium's first airplane, the Airbus 300 was a massive technological leap forward, as it was the first twin-engined widebody jet. However, the company’s biggest commercial breakthrough came in the 80s when it introduced the now well-established Airbus A320.
In 2000, the company was acquired by EADS, which in turn was the result of the merger between several European aerospace manufacturers. Today, Airbus is one of the dominating forces in aerospace manufacturing together with Boeing. As will be discussed later on, the company also produces various types of military aircraft and helicopters, but the majority of its revenue comes from its commercial production.
The Commercial Aircraft
Airbus’s commercial aircraft division is the most important part of its business and what they’re most known for. The company’s product line spans from the single-aisle A220 and A320 families which are used by over 300 commercial airlines across the world for short to medium-haul routes, including Delta Air Lines and American Airlines. The company also manufactures the widebody A330, A350, and the now iconic A380, the latter of which is the largest passenger aircraft in the world.
Other Aircraft
Beyond commercial airliners, Airbus operates in several other sectors. In defense, Airbus produces military aircraft, including the A400M transporter and Eurofighter Typhoon through a joint venture. The company is also active in the space sector, designing and manufacturing satellites, space probes, and launch vehicles. Additionally, Airbus Helicopters, a division of Airbus, is one of the world’s leading helicopter manufacturers, producing a range of civil and military rotary-wing aircraft.
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