Airbus (AIR) Guidance summary

Opening remarks and agenda

• Call convened on short notice to discuss updated 2024 guidance due to new developments in space and commercial aircraft businesses, with CEO and CFO presenting operational and financial outlook.

• Forward-looking statements and Safe Harbor statement referenced; Q&A session included.

Guidance on key objectives

• 2024 guidance updated: target of around 770 commercial aircraft deliveries, EBIT adjusted of around €5.5 billion, and free cash flow before customer financing of around €3.5 billion.

• Commercial aircraft delivery target for 2024 revised from around 800 to around 770 units.

• Guidance includes €0.9 billion in charges related to space programs, to be recorded in Q2/H1 2024.

• Guidance is before any M&A impacts, including ongoing Spirit AeroSystems discussions.

• Guidance assumes no further major disruptions to global economy, air traffic, or supply chain.

Market trends and strategic opportunities

• Demand for commercial aircraft remains strong, but supply chain constraints, especially in engines, aerostructures, and cabin equipment, limit ability to meet demand.

• High-tech space business faces strong competition and development risks, prompting management changes and technical reviews.

• Strategic options in Space include restructuring, cooperation models, portfolio review, and M&A.