Airbus (AIR) Q4 2025 (Media) earnings summary

Executive summary

• Achieved record financial and operational performance in FY 2025, driven by strong demand across civil, defense, and all business segments, despite supply chain challenges and engine shortages impacting deliveries.

• Delivered 793 commercial aircraft, with a year-end order backlog of 8,754 units and consolidated order intake by value up 19% year-over-year to €123.3 billion.

• Major milestones included the acquisition and integration of Spirit AeroSystems work packages, new assembly lines in the US and China, and a record commercial aircraft backlog.

• Defense and Space benefited from increased European defense spending, successful transformation efforts, and strong order momentum.

• Proposed a dividend of €3.20 per share, reflecting confidence in future performance.

Financial highlights

• Revenues rose 6% year-over-year to €73.4 billion, driven by higher deliveries and services, partially offset by a weaker US dollar.

• EBIT Adjusted reached a record €7.1 billion, up 33% from 2024, with net income at €5.2 billion and EPS of €6.61.

• Free cash flow before customer financing was €4.6 billion; net cash position at year-end was €12.2 billion, with total liquidity around €35 billion.

• Order book value at year-end was €619 billion, with defence order book up 11%.

• Dividend proposal of €3.2 per share for 2025.

Outlook and guidance

• 2026 guidance targets around 870 commercial aircraft deliveries, EBIT Adjusted of approximately €7.5 billion, and free cash flow before customer financing of about €4.5 billion.

• Guidance assumes no further global disruptions and includes current tariffs.

• Focus areas for 2026: ramping up production, maintaining safety and quality, advancing decarbonization technologies, and supporting European defense sovereignty.