• 507 commercial aircraft delivered
• Revenues € 47.4 billion; EBIT Adjusted € 4.1 billion
• EBIT (reported) € 3.4 billion; EPS (reported) € 3.34
• Free cash flow before customer financing € -0.9 billion
• 2025 guidance maintained, now including the impact of currently applicable tariffs

Amsterdam, the Netherlands, 29 October 2025 – Airbus SE (stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2025.

“Our nine-month results reflect the level of commercial aircraft deliveries and a solid performance in the Defence and Space and Helicopters businesses,” said Guillaume Faury, Airbus Chief Executive Officer. “Deliveries remain backloaded amid a complex and dynamic operating environment. Meanwhile, we continue to expand our industrial capacity to support the commercial aircraft ramp-up. In space, we are making progress in the consolidation of our activities together with Leonardo and Thales to create a new European leader in that market. We maintain our 2025 guidance, which now includes the impact of currently applicable tariffs.”

Gross commercial aircraft orders totalled 610 (9m 2024: 667 aircraft) with net orders of 514 aircraft after cancellations (9m 2024: 648 aircraft). The order backlog amounted to 8,665 commercial aircraft at the end of September 2025. Airbus Helicopters registered net orders totalling 306 units (9m 2024: 308 units), which were well spread across the product range. Order intake by value at Airbus Defence and Space totalled € 6.8 billion (9m 2024: € 11.0 billion).

Consolidated revenues increased 7% year-on-year to € 47.4 billion (9m 2024: € 44.5 billion). A total of 507 commercial aircraft were delivered (9m 2024: 497 aircraft), comprising 62 A220s, 392 A320 Family, 20 A330sand 33 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 3% to € 33.9 billion, mainly reflecting the higher number of deliveries and growth in services. Airbus Helicopters’ revenues increased by 16% to € 5.7 billion, reflecting a solid performance from programmes and growth in services. Helicopter deliveries totalled 218 units (9m 2024: 190 units). Revenues at Airbus Defence and Space increased 17% year-on-year to € 8.9 billion, driven by higher volumes across all its business lines.

Consolidated EBIT Adjusted – an alternativeperformance 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 – totalled € 4,146 million (9m 2024: € 2,798 million). 9m 2024 included charges recorded in the Space Systems business totalling € 989 million.

EBIT Adjusted related to Airbus’ commercial aircraft activities totalled € 3,270 million (9m 2024: € 3,028 million), mainly reflecting a more favourable hedge rate and lower R&D expenses while the increase of deliveries embeds an unfavourable mix.

The A320 Family programme continues to ramp up towards a rate of 75 aircraft per month in 2027. On the A220, the current balance between supply and demand has led to an adjustment of the ramp-up trajectory, with the Company now targeting to reach rate 12 in 2026. The A330 programme is currently stabilising at a monthly production rate of 4 aircraft and, as previously communicated, is targeting rate 5 in 2029 to meet customer demand. The Company continues to target rate 12 for the A350 in 2028.

Airbus Helicopters’ EBIT Adjusted increased to € 495 million (9m 2024: € 420 million), reflecting the growth in services and higher deliveries.

EBIT Adjusted at Airbus Defence and Space totalled € 420 million (9m 2024: € -661 million), supported by higher volumes and improved profitability in line with the Division’s mid-term trajectory.

On the A400M programme, the Company is engaged in positive and forward-looking discussions with the launch nations and OCCAR. This was notably marked by the agreement reached in June with OCCAR to advance seven deliveries for France and Spain and to further increase the visibility on the programme’s production. In light of uncertainties regarding the level of aircraft orders, Airbus continues to assess the potential impact on the programme’s manufacturing activities. Risks on the qualification of technical capabilities and associated costs remain stable.

Consolidated self-financed R&D expenses totalled € 2,145 million (9m 2024: € 2,351 million).

Consolidated EBIT(reported) was € 3,365 million (9m 2024: € 2,690 million), including net Adjustments of € -781 million.

These Adjustments comprised:

• € -577 million related to the dollar working capital mismatch and balance sheet revaluation, of which € -186 million were in Q3. This mainly reflects the phasing impact arising from the difference between transaction date and delivery date;
• € -105 million related to the Airbus Defence and Space workforce adaptation plan recorded in Q1;
• € -88 million related to Spirit AeroSystems work packages stabilisation costs, of which € -31 million were in Q3;
• € -11 million of other costs including compliance and M&A, of which € +23 million were in Q3.

The financial result was € 374 million (9m 2024: € -92 million), mainly reflecting the revaluation of certain equity investments and revaluation of financial instruments, partially offset by the evolution of the US dollar. Consolidated net income⁽¹⁾ was € 2,641 million (9m 2024: € 1,808 million) with consolidated reported earnings per share of € 3.34 (9m 2024: € 2.29).

Consolidated free cash flow before customer financing was € -914 million (9m 2024: € -845 million), reflecting the inventory build-up that supports fourth quarter deliveries, and the production ramp-up. Consolidated free cash flow totalled € -778 million (9m 2024: € -877 million). The gross cash position stood at € 21.3 billion at the end of September 2025 (year-end 2024: € 26.9 billion), with a consolidated net cash position of € 7.0 billion (year-end 2024: € 11.8 billion), also reflecting the 2024 dividend payment and the weakening dollar environment.

Outlook

As the basis for its 2025 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, the Company’s internal operations, and its ability to deliver products and services. The Company’s 2025 guidance now includes the impact of currently applicable tariffs. The guidance also includes the impact of the integration of certain Spirit AeroSystems work packages based on preliminary estimates and an assumed closing in the fourth quarter of 2025.
On that basis, the Company targets to achieve in 2025:

• Around 820 commercial aircraft deliveries;
• EBIT Adjusted of around € 7.0 billion;
• Free Cash Flow before Customer Financing of around € 4.5 billion.

The anticipated impact of the integration of certain Spirit AeroSystems work packages on the Company’s guidance remains broadly in line with previous estimates.

Post-closing event

On 23 October 2025, Airbus, Leonardo and Thales announced the signature of a Memorandum of Understanding aimed at combining their respective space activities into a new company. By joining forces, the companies aim to strengthen Europe’s strategic autonomy in space, a major sector that underpins critical infrastructure and services related to telecommunications, global navigation, earth observation, science, exploration and national security. This new company also intends to serve as the trusted partner for developing and implementing national sovereign space programmes. It could be operational in 2027, subject to regulatory approvals and satisfaction of other closing conditions.

Consolidated Airbus – Nine-Month (9m) 2025 Results 

(Amounts in Euros)

Consolidated Airbus – Third Quarter (Q3) 2025 Results
(Amounts in Euros)

Q3 2025 revenues increased 14%, mainly reflecting the higher volume in Airbus Defence and Space, the increased helicopter deliveries and the higher commercial aircraft deliveries.
Q3 2025 EBIT Adjusted increased by 38%. It mainly reflects the higher commercial aircraft deliveries, with a favourable mix, a positive year-on-year impact from currency hedging, as well as a good performance across programmes and services at Airbus Helicopters.
Q3 2025 EBIT (reported) of € 1,748 million included net Adjustments of € -194 million. Net Adjustments in the third quarter of 2024 amounted to € -173 million.
Q3 2025 net income⁽¹⁾ of € 1,116 million reflects the EBIT (reported), € -116 million from the financial result and € -547 million from income taxes.
EBIT (reported) / EBIT Adjusted Reconciliation
The table below reconciles EBIT (reported) with EBIT Adjusted.

Glossary

Footnotes:

1. Airbus SE continues to use the term Net Income/Loss. It is identical to Profit/Loss for the period attributable to equity owners of the parent as defined by IFRS Rules.

Safe Harbour Statement:

This press release includes forward-looking statements. Words such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “targets”, “projects”, “may” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements made about strategy, production ramp-up and delivery schedules, introduction of new products and services and market expectations, as well as statements regarding future performance, prospects and outlook. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
These factors include but are not limited to:
▪ Changes in general economic, political or market conditions, including the cyclical nature of some of the Company’s businesses;
▪ Significant disruptions in air travel (including as a result of the spread of disease or terrorist attacks);
▪ Disruptions to the Company’s industrial operations and / or supply chain, whether due to economic or geopolitical factors or other threats (including physical or cyber security threats);
▪ Currency exchange rate fluctuations, in particular between the Euro and the U.S. dollar;
▪ The successful execution of internal performance plans, including cost reduction and productivity efforts;
▪ Product performance risks, as well as programme development and management risks;
▪ Customer, supplier and subcontractor performance or contract negotiations, including financing issues;
▪ Competition and consolidation in the aerospace and defence industry;
▪ Significant collective bargaining labour disputes;
▪ The outcome of political and legal processes, including the availability of government financing for certain programmes and the size of defence and space procurement budgets;
▪ Research and development costs in connection with new products;
▪ Legal, financial and governmental risks related to international transactions or affecting global trade (e.g. tariffs);
▪ Legal and investigatory proceedings and other economic, political and technological risks and uncertainties;
▪ Changes in societal expectations and regulatory requirements about climate change;
▪ The lingering effects of the COVID-19 pandemic; and
▪ Aggravation of adverse geopolitical events, including the war in Ukraine (and the resulting export control restrictions and sanctions), and conflicts or rising military tensions around the world.

As a result, Airbus SE’s actual results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
For more information about the impact of the Macroeconomic Environment, see Note 3 “Geopolitical and Macroeconomic Environment” of the Notes to the Airbus SE Unaudited Condensed Interim IFRS Consolidated Financial Statements for the nine-month period ended 30 September 2025 published 29 October 2025 (the “Financial Statements”). For more information about factors that could cause future results to differ from such forward-looking statements, please refer to Airbus SE’s most recent annual reports, including the Report of the Board of Directors published on 20 February 2025 (including the most recent Risk Factors), the Financial Statements and the Notes thereto. Any forward-looking statement contained in this press release speaks as of the date of this press release. Airbus SE undertakes no obligation to publicly revise or update any forward-looking statement in light of new information, future events or otherwise.

Rounding disclaimer: Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Source: AIRBUS, MEDIA_RELATIONS