The following is a summary of the Airbus SE (EADSF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Airbus reported Q1 2024 revenues of €12.8 billion, up 9% year-on-year due to a higher number of commercial aircraft deliveries.

• Free cash flow before customer financing was at a negative €1.8 billion, driven mainly by changes in working capital and planned inventory buildup.

• EBIT Adjusted decreased to €0.6 billion from €0.8 billion in Q1 2023, reflecting investments made for future growth.

• Despite this, 2024 guidance remains unchanged with Airbus targeting approximately 800 commercial aircraft deliveries, €6.5 billion to €7 billion in EBIT adjusted, and around €4 billion in free cash flow before customer financing.

Business Progress:

• Airbus delivered 142 aircraft in Q1 2024, a 12% increase from the previous year, showcasing good commercial progress.

• The company entered a partnership with Tata Group to establish a final assembly line in India, aiming to expand their operations in the Indian civil market and export to neighboring countries.

• Airbus had solid order intake in its Defense and Space business in Q1, including contracts for F-100s and services.

• Airbus reported positive production progress, including the ahead of schedule delivery of the first A321 from Toulouse to Pegasus Airlines.

• Production activities in India are accelerating, with significant growth in staffing and business operations.

• An increase in A350 production rates to 12 by 2028 has been decided to accommodate greater demand.

• A transformative program is being implemented in Airbus's Defense and Space division.

More details: AIRBUS SE IR

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