Slides
Page 1
9m 2026 Results 28 October 2026 Guillaume Faury Chief Executive Officer Thomas Toepfer Chief Financial Officer
Page 2
2 Safe Harbour Statement DISCLAIMER This presentation includes forward-looking statements. Words such as “anticipatesˮ, “believesˮ, “estimatesˮ, “expectsˮ, “intendsˮ, “plansˮ, “targetsˮ, “projectsˮ, “mayˮ 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; and ● Adverse geopolitical events, armed conflicts and increased military tensions around the world. As a result, Airbus SEʼs 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 2026 published 28 October 2026 (the “Financial Statementsˮ). For more information about factors that could cause future results to differ from such forward-looking statements, please refer to Airbus SEʼs most recent Report of the Board of Directors published on 19 February 2026 (including the most recent Risk Factors), the Financial Statements and the Notes thereto. Any forward-looking statement contained in this presentation speaks as of the date of this presentation. Airbus SE undertakes no obligation to publicly revise or update any forward-looking statement in light of new information, future events or otherwise. This presentation is prepared in accordance with legacy standards (primarily IAS 1) and IFRS 18 has not been early-adopted. 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.
Page 3
01. Company Highlights
Page 4
9m 2026 Key Topics 547 Commercial aircraft delivered 4 2026 Guidance unchanged Operating in a complex and fast-changing environment € 4.5 bn EBIT Adjusted € 1.3 bn FCF before Customer Financing
Page 5
9m 2026 Commercial Performance in units Order Intake (net) Order Book1 in units Order Intake (net) Order Book1 in € m Order Intake (net) Commercial Aircraft Airbus Helicopters Airbus Defence and Space 1,105 115% 9,310 7% 311 2% 1,122 14% 11,474 70% 5 Strong commercial momentum 1 As of September 30th, 2026. 2 It reflects 2 A330 previously delivered on operating lease. Percentages reflect the year on year variance. 2
Page 6
Airbus Helicopters Defence and Space 9m 2026 Financial Performance Revenues by Division 1 in % Revenues in € bn R&D Expenses in € bn 1 Breakdown based on external revenues. € 50.6 bn t/o defence € 9.3 bn 71% 11% 18% 6
Page 7
EBIT in € bn / RoS % 1 9m 2026 Average number of shares: 789,883,164 compared to 789,849,844 in 9m 2025. EBIT Adjusted in € bn / RoS % EPS Adjusted 1 in € EPS 1 in € 9m 2026 Profitability EBIT Adjustments of € + 55 m: • € 270 m $ Working Capital mismatch and Balance Sheet revaluation • € 235 m related to the integration of former Spirit AeroSystems work packages • € 60 m related to Airbus Defence and Space workforce adaptation plan • € 40 m Others EBIT to Net Income: • Financial Result of € 155 m • Income Taxes of € 1,191 m • Net Income of € 3,587 m 7
Page 8
Approximately 60% of Airbus US$ revenues are naturally hedged by US$ procurement. 1 Blended rates reflect both the EBIT impact of hedge rates of the US$ hedge portfolio and Euro conversion. It includes Collars at least favourable rates. 2 Volumes reflect Forwards, Collars and Euro conversion. Total amount predominantly contains €/$. Volumes reflect roll-over which will be finalised in the next quarter. • In 9m 2026, $ 17.1 bn2 of forwards matured and Euro conversion realised at an average blended rate1 of € 1 $ 1.20. • $ 15.7 bn2 of new USD coverage were added at an average blended rate1 of € 1 $ 1.21. • Hedges and Euro conversion portfolio2 as of 30 September 2026 at $ 74.4 bn, at an average blended rate1 of $ 1.22 (vs. $ 75.8 bn in December 2025 at $ 1.22. in $ bn Forwards, Collars & Euro Conversion as of Sep. 2026 Forwards, Collars & Euro Conversion as of Dec. 2025 Average blended rates1 € vs. $ 2026 Remaining 3 months 2027 2028 2029 2030 2031 and beyond Forwards, Collars and Euro conversion 1.21 ( 1.21 in Dec. 25 ) 1.22 ( 1.23 in Dec. 25 ) 1.22 ( 1.22 in Dec. 25 ) 1.21 ( 1.19 in Dec. 25 ) 1.24 ( 1.21 in Dec. 25 ) 1.19 ( 1.19 in Dec. 25 ) USD Exposure Coverage 8 0.4 Mark-to-market of FX hedging instruments incl. in AOCI € 2.2 bn Closing rate @ 1.14 € vs. $
Page 9
9m 2026 Cash Evolution in € bn 1 Customer Financing of € 0.2 bn. 2 Includes proceeds from disposals of intangible and fixed assets & dividends paid by companies valued at equity. Free Cash Flow 1: € 1.1 bn FCF before Customer Financing 1: € 1.3 bn 9mʼ25 € 0.9 bn] 9 2
Page 10
02. Divisional Highlights
Page 11
Airbus Deliveries by Programme % of units delivered) A220 A320 A330 External Revenue Split A350 13% 78% 2% 7% 88% 12% Highlights ● Deliveries: 547 aircraft comprising 68 A220, 428 A320 Family, 13 A330 and 38 A350. ● Revenues mainly reflect higher deliveries, increased services and US dollar depreciation. ● EBIT Adjusted mainly reflects higher deliveries, higher R&D and a less favourable hedge rate. in € m 9m 2026 9m 2025 Order Intake (net) in units 1,105 514 Order Book⁽¹⁾ in units 9,310 8,665 Deliveries in units 547 507 Revenues 36,665 33,886 R&D Expenses 1,798 1,728 in % of revenues 4.9% 5.1% EBIT Adjusted 3,362 3,270 in % of revenues 9.2% 9.7% EBIT 3,378 2,556 in % of revenues 9.2% 7 .5% Quarterly slide Quarterly slide Platforms Services 11 1 As of September 30th. 2 It reflects 2 A330 previously delivered on operating lease. (2)
Page 12
Airbus Helicopters Platforms Services Civil Defence Quarterly slide Quarterly slide External Revenue split in € m 9m 2026 9m 2025 Order Intake (net) in units 311 306 Order Book⁽¹⁾ in units 1,122 981 Deliveries in units 226 218 Revenues 5,646 5,652 R&D Expenses 234 227 in % of revenues 4.1% 4.0% EBIT Adjusted 445 495 in % of revenues 7 .9% 8.8% EBIT 445 495 in % of revenues 7 .9% 8.8% 48% 52% 51% 49% 12 1 As of September 30th. Highlights ● Revenues broadly stable in the first nine months. ● EBIT Adjusted and Revenues reflecting a less favourable delivery mix.
Page 13
Airbus Defence and Space Quarterly slide Quarterly slide Highlights ● Revenues increase driven by higher volumes across all Business Units. ● EBIT Adjusted reflects higher volumes and better profitability across all Business Units. External Revenue split in € m 9m 2026 9m 2025 Order Intake (net) 11,474 6,753 Revenues 9,341 8,876 R&D Expenses 285 206 in % of revenues 3.1% 2.3% EBIT Adjusted 672 420 in % of revenues 7 .2% 4.7% EBIT 711 353 in % of revenues 7 .6% 4.0% 68% 32% 59% 23% 18% Air Power Space Systems Connected Intelligence & Others Platforms Services 13
Page 14
03. Guidance Highlights & Outlook
Page 15
2026 Guidance The Company targets to achieve in 2026 As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations and ability to deliver products and services. The Companyʼs 2026 guidance is before M&A and includes the impact of currently applicable tariffs. Around 870 Commercial aircraft deliveries Around € 4.5 bn FCF before Customer Financing Around € 7 .5 bn EBIT Adjusted 15
Page 16
Safety, Quality, Integrity, Compliance, and Security Key Priorities Deliver on the commercial aircraft ramp-up Play a key role in Defence Leverage strong commercial positioning across businesses Leading the future of aerospace Deliver profitable growth 16
Page 17
Appendix. 9m 2026 Results
Page 18
Expected Average Blended Rates for Forwards, Collars and Euro Conversion € vs. $ Active exposure management Blended rates reflect both EBIT impact of hedge rates of the US$ hedge portfolio and Euro conversion. It includes Collars at least favourable rates. 1 Q3 actual. Average Blended Rates FY 2025 1.19 FY 2026E 1.21 18 (1) 2025 2026E
Page 19
9m 2026 Detailed Income Statement and Adjustments Net Income Adjusted excludes the following items: ▪ Adjustments impacting the EBIT line (as reported in the EBIT Adjusted) ▪ The Other Financial Result, except for the unwinding of discounted provisions The tax effect on Adjusted Income before taxes is calculated at 27%. The effective tax rate on Income before taxes is 25%. thereof Adjustments Impact on EBIT in € m 9m 2026 Reported Operational FX Financial Result 9m 2026 Adjusted Airbus Defence and Space Helicopters Airbus + Defence and Space1 EBIT 4,550 259 44 0 270 4,495 in % of Revenues 9.0% 8.9% Interest income 514 514 Interest expense 533 533 Other Financial Result 174 136 38 Financial Result 155 136 19 Income before taxes 4,705 259 44 0 270 136 4,514 Non-controlling interests 73 73 Net Income 3,587 3,368 Number of shares 789,883,164 789,883,164 EPS (in €) 4.54 4.26 19 1 Thereof € 275 m Airbus, € 5 m Defence and Space.
Page 20
9m 2025 Detailed Income Statement and Adjustments 1 Thereof € 0 m A400M programme update. 2 Thereof € 579 m Airbus, € 2 m Defence and Space. 20 thereof Adjustments Impact on EBIT in € m 9m 2025 Reported Operational FX Financial Result 9m 2025 Adjusted Airbus Defence and Space1 Helicopters Airbus + Defence and Space2 EBIT 3,365 135 69 0 577 4,146 in % of Revenues 7.1% 8.7% Interest income 537 537 Interest expense 564 564 Other Financial Result 401 381 20 Financial Result 374 381 7 Income before taxes 3,739 135 69 0 577 381 4,139 Non-controlling interests 112 112 Net Income 2,641 3,133 Number of shares 789,849,844 789,849,844 EPS (in €) 3.34 3.97 Net Income Adjusted excludes the following items: ▪ Adjustments impacting the EBIT line (as reported in the EBIT Adjusted) ▪ The Other Financial Result, except for the unwinding of discounted provisions The tax effect on Adjusted Income before taxes is calculated at 27%. The effective tax rate on Income before taxes is 32%.
Page 21
Liquidity as of 30 September 2026 € 7 .0 bn Net Cash € 21.9 bn Total Gross Cash Invested in highly rated securities € 14.8 bn Total Gross Debt Incl. interest rate contracts € 8.0 bn Credit Facility (RSCF 1 The 9m 2026 Gross Debt includes financing liabilities for € 13.8 bn and interest rate contracts related to fair value hedges for € 1.0 bn. RSCF • Signed on July 5, 2022 • 2nd extension option of 1 year exercised in June 2024 and approved by all lenders: the full € 8 bn line is committed until July 5, 2029 • Fully committed by 38 banks • No financial covenants, no MAC clause • Sustainability-linked Financing Liabilities include bonds* • € 6.0 bn EMTN • $ 1.5 bn 144A/RegS • $ 0.7 bn USPP *nominal amounts Credit Ratings Short-term rating: • S & P A1 • Moodyʼs: P1 Long-term rating: • S & P A+ stable outlook • Moodyʼs: A1 stable outlook (1) 21
Page 22
Quarterly Key Figures in € m Q3 2026 Q3 2025 Revenues 17 ,469 17 ,826 EBIT Adjusted 1,768 1,942 EBIT 1,805 1,748 Net Income 1,344 1,116 FCF before Customer Financing 102 696 FCF 65 806 in € m Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Revenues EBIT Adjusted EBIT Airbus 12,788 13,057 1,375 1,556 1,428 1,325 Helicopters 1,966 1,959 205 246 205 246 Defence and Space 3,025 3,063 185 155 169 192 Eliminations 310 253 3 15 3 15 Consolidated Airbus 17 ,469 17 ,826 1,768 1,942 1,805 1,748 22
Page 23
Detailed Free Cash Flow 1 Excluding working capital change, contribution to plan assets of pension schemes and realised FX results on treasury swaps. 2 Including net customer financing and excluding some perimeter change impacts from changes in consolidation. 3 Excluding leased and financial assets. 4 Excluding change in securities, change in cash from changes in consolidation, contribution to plan assets, realised FX results on treasury swaps and bank activities. in € m 9m 2026 9m 2025 Net Cash position at the beginning of the period 12,171 11,753 Gross Cash Flow from Operations 1 6,548 4,709 Change in working capital 2 5,647 3,677 Investments in intangible and fixed assets (net) & dividends paid by companies valued at equity 2,009 1,810 of which Industrial CapEx (additions) 3 2,425 2,261 Free Cash Flow 4 1,108 778 of which Customer Financing 160 136 Free Cash Flow before Customer Financing 1,268 914 Change in other Investing cash flow 902 63 Change in capital and non-controlling interests 1 25 Change in treasury shares / share buyback 87 125 Change in liability for puttable instruments 0 48 Contribution to plan assets of pension schemes 212 238 Cash distribution to shareholders 2,530 2,372 Others 291 1,334 Net Cash position at the end of the period 7 ,042 7 ,042 23
Page 24
Net Cash Position in € m Sep. 2026 Dec. 2025 Gross Cash 21,854 27 ,218 Financing Liabilities 13,826 14,249 Short-term Financing Liabilities 4,841 5,186 Long-term Financing Liabilities 8,985 9,063 Interest rate contracts 986 798 Reported Net Cash 7 ,042 12,171 24
Page 25
Customer Financing Exposure in € m Sep. 2026 Dec. 2025 Sep. 2026 Dec. 2025 Sep. 2026 Dec. 2025 Airbus Helicopters Defence and Space Closing rate € 1 = $ 1.14 $ 1.18 $ 1.14 $ 1.18 $ 1.14 $ 1.18 Total Gross Exposure 137 192 5 6 19 21 of which off-balance sheet 0 0 0 0 0 0 Estimated value of collateral 95 157 5 6 13 15 Net Exposure 41 35 0 0 6 6 Provision and asset impairment 41 35 0 0 6 6 Net Exposure after provision 0 0 0 0 0 0 25
Page 26
Gross Exposure in $ bn 1.4 1.5 1.6 1.3 1.5 1.7 1.5 0.9 0.8 0.5 0.4 0.3 0.3 0.3 0.2 0.2 Airbus Customer Financing Net Exposure fully provisioned 31 December 2025 €/$ = 1.18 Gross Exposure Estimated Collateral 30 September 2026 €/$ = 1.14 Gross Exposure Estimated Collateral Net Exposure fully provisioned Net Exposure € 0.0 bnNet Exposure € 0.0 bn 26 € 0.2 bn $ 0.2 bn) € 0.2 bn $ 0.2 bn) € 0.1 bn $ 0.2 bn) € 0.1 bn $ 0.1 bn)
Page 27
Balance Sheet Highlights: Assets 27 in € m Sep. 2026 Dec. 2025 Non-current Assets 63,577 61,292 of which Intangible & Goodwill 17,141 16,847 of which Property, plant & equipment 21,410 20,893 of which Investments & other long-term financial assets 8,670 7,830 of which Contract assets 0 17 of which Positive hedge mark-to-market 441 1,050 of which Non-current securities 10,785 9,997 Current Assets 76,543 73,584 of which Inventory 51,374 41,676 of which Contract assets 1,665 1,639 of which Cash and cash equivalents 8,026 14,128 of which Current securities 3,043 3,093 of which Positive hedge mark-to-market 441 771 Assets of disposal groups classified as held for sale 53 63 Total Assets 140,173 134,939 Closing rate € vs. $ 1.14 1.18
Page 28
Balance Sheet Highlights: Liabilities 28 in € m Sep. 2026 Dec. 2025 Total Equity 26,827 26,184 of which AOCI Accumulated Other Comprehensive Income) 1,122 70 of which Non-controlling interests 85 80 Total Non-current liabilities 46,951 45,244 of which Pensions 796 926 of which Other provisions 2,885 3,050 of which Financing liabilities 8,985 9,063 of which European Governmentsʼ refundable advances 3,565 3,620 of which Contract liabilities 28,270 26,484 of which Negative hedge mark-to-market 1,554 1,107 Total Current liabilities 66,315 63,429 of which Pensions 260 329 of which Other provisions 3,377 4,040 of which Financing liabilities 4,841 5,186 of which European Governmentsʼ refundable advances 248 202 of which Contract liabilities 33,140 32,112 of which Trade liabilities 16,874 15,878 of which Negative hedge mark-to-market 951 414 Liabilities of disposal groups classified as held for sale 80 82 Total Liabilities and Equity 140,173 134,939
Page 29
New Capitalised Research and Development 29 in € m 9m 2026 9m 2025 Airbus 150 166 Helicopters 0 0 Defence and Space 33 55 Eliminations 0 0 Consolidated Airbus 183 221
Page 30
Shareholding Structure at 30 September 2026 792,283,683 shares issued at 30 September 2026 Free Float 73.9% SOGEPA 10.8% GZBV 10.8% SEPI 4.1% Treasury Shares 0.4% 30
Page 31
Quarterly Revenues Breakdown Cumulative) in € m Q1 H1 9m FY 2026 2025 2026 2025 2026 2025 2026 2025 Airbus 8,436 9,521 23,877 20,829 36,665 33,886 52,577 Helicopters 1,604 1,600 3,680 3,693 5,646 5,652 8,972 Defence and Space 2,832 2,656 6,316 5,813 9,341 8,876 13,405 Eliminations 221 235 697 725 1,007 978 1,534 Consolidated Airbus 12,651 13,542 33,176 29,610 50,645 47 ,436 73,420 31
Page 32
Quarterly EBIT Adjusted Breakdown Cumulative) in € m Q1 H1 9m FY 2026 2025 2026 2025 2026 2025 2026 2025 Airbus 81 494 1,987 1,714 3,362 3,270 5,470 Helicopters 65 78 240 249 445 495 925 Defence and Space 130 77 487 265 672 420 798 Eliminations 24 25 13 24 16 39 65 Consolidated Airbus 300 624 2,727 2,204 4,495 4,146 7 ,128 32
Page 33
Quarterly EBIT Breakdown Cumulative) in € m Q1 H1 9m FY 2026 2025 2026 2025 2026 2025 2026 2025 Airbus 1 451 1,950 1,231 3,378 2,556 4,555 Helicopters 65 78 240 249 445 495 953 Defence and Space 134 31 542 161 711 353 639 Eliminations 24 25 13 24 16 39 65 Consolidated Airbus 224 473 2,745 1,617 4,550 3,365 6,082 33
Page 34
9m 2026 IFRS vs. APM Cash Flow Reconciliation in € bn Sep. 2026 Cash provided by (used for) operating activities 0.7 t/o Reimbursement from / contribution to plan assets 0.2 t/o Treasury swaps 0.0 t/o Change in other operating assets and liabilities 5.6 Gross Cash Flow from Operations 6.5 34
Page 35
This presentation also contains certain “non-GAAP financial measuresˮ, i.e. financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS. For example, Airbus makes use of the non-GAAP measures “EBIT Adjustedˮ, “EPS Adjustedˮ and “Free Cash Flowˮ. Airbus uses these non-GAAP financial measures to assess its consolidated financial and operating performance and believes they are helpful in identifying trends in its performance. These measures enhance managementʼs ability to make decisions with respect to resource allocation and whether Airbus is meeting established financial goals. Non-GAAP financial measures have certain limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of Airbusʼ results as reported under IFRS. Because of these limitations, they should not be considered substitutes for the relevant IFRS measures. ● EBIT Airbus continues to use the term EBIT Earnings before interest and taxes). It is identical to Profit before finance cost and income taxes as defined by IFRS Rules. ● Adjustment is an alternative performance measure used by Airbus which includes 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. ● EBIT Adjusted: Airbus uses an alternative performance measure, EBIT Adjusted as a 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. ● EPS Adjusted is an alternative performance measure of a basic EPS as reported whereby the net income as the numerator does include Adjustments. For reconciliation see slide “Detailed Income Statement and Adjustmentsˮ. ● Gross cash position: Airbus defines its consolidated gross cash position as the sum of (i) cash and cash equivalents and (ii) securities (all as recorded in the consolidated statement of financial position). ● Net cash position: Airbus defines its consolidated net cash position as the sum of (i) cash and cash equivalents and (ii) securities, minus (iii) financing liabilities, plus or minus (iv) interest rate contracts related to fair value hedges (all as recorded in the Consolidated Statement of Financial Position). ● Gross cash flow from operations: Gross cash flow from operations is an alternative performance measure and an indicator used by Airbus to measure its operating cash performance before changes in other operating assets and liabilities (working capital). It is defined as cash provided by operating activities, excluding (i) changes in other operating assets and liabilities (working capital), (ii) contribution to plan assets of pension schemes and (iii) realised foreign exchange results on treasury swaps. ● Changes in working capital: it is identical to changes in other operating assets and liabilities as defined by IFRS Rules. It is comprised of inventories, trade receivables, contract assets and contract liabilities (including customer advances), trade liabilities, and other assets and other liabilities. ● FCF: It is an alternative performance measure and key indicator which allows the Company to measure the amount of cash flow generated by its operations. The Company defines Free Cash Flow as the sum of (i) cash provided by operating activities and (ii) Investments in intangible and fixed assets (net) & Dividends paid by companies valued at equity, minus (iii) contribution to plan assets of pension schemes, (iv) realised foreign exchange results on treasury swaps and (v) change in cash from changes in consolidation. ● FCF before Customer Financing refers to Free Cash Flow adjusted for cash flow related to aircraft financing activities. It is an alternative performance measure and indicator used by the Company in its financial guidance. Glossary on Alternative Performance Measures APM 35