“During the first half of 2023, we progressed well across our businesses in an operational environment that remains complex.
Our commercial aircraft are in strong demand, as demonstrated by more than 800 orders announced at the Paris Air Show. This demand is driven both by growth and fleet replacement as airlines invest in more fuel-efficient fleets,” said Guillaume Faury, Airbus Chief Executive Officer. “Based on this H1 performance, we maintain our 2023 guidance.”
Gross commercial aircraft orders totaled 1,080 (H1 2022: 442 aircraft) with net orders of 1,044 aircraft after cancellations (H1 2022: 259 aircraft). The order backlog amounted to a record 7,967 commercial aircraft at the end of June 2023. Airbus Helicopters registered 131 net orders (H1 2022: 163 units) which were well spread across programmes and included 19 H160s. Airbus Defence and Space’s order intake by value was € 6.0 billion (H1 2022: € 6.5 billion), including 4 new-build and 5 converted A330 Multi Role Tanker Transport aircraft for Canada.
The financial result was € 102 million (H1 2022: € 107 million). It mainly reflects a positive impact from the revaluation of certain equity investments, partly offset by the net interest result and negative impacts from the revaluation of financial instruments. Consolidated net income(3) was € 1,526 million (H1 2022: € 1,901 million) with consolidated reported earnings per share of € 1.94 (H1 2022: € 2.42).
Consolidated free cash flow before M&A and customer financing was € 1,574 million (H1 2022: € 1,955 million), reflecting progress on deliveries as well as an increase in inventory linked to the ongoing ramp-up across programs. It also includes a favorable timing of receipts and payments.
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Consolidated free cash flow was € 1,474 million (H1 2022: € 1,646 million). The gross cash position stood at € 22.9 billion at the end of June 2023 (year-end 2022: € 23.6 billion), with a consolidated net cash position of € 9.1 billion (year-end 2022: € 9.4 billion).