Airbus - 2022 Universal Registration Document

2. Management’s Discussion and Analysis of Financial Condition and Results of Operations / 2.1 Operating and Financial Review

to euro using the spot rate as of 31 December 2022, 2021 and 2020, respectively. Adjustments to the value of the order backlog could result from changes in the transaction price. Options are

not considered in the valuation of order intake and order backlog. The order backlog will mainly be released into revenue over a period of eight years.

ORDER INTAKE

2022

2021

2020

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

Airbus

59.7

72.2% 40.0

64.3% 16.1

48.1%

9.3

11.2%

8.6

13.7%

5.5

16.4%

Airbus Helicopters

13.7

16.6% 13.7

22.0% 11.9

35.5%

Airbus Defence and Space

82.7

100% 62.2

100% 33.5

100%

Subtotal segmental order intake

(0.2)

(0.2)

(0.2)

Eliminations

Total

82.5

62.0

33.3

(1) Before “Eliminations”.

ORDER BACKLOG

31 December

2022

2021

2020

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

Airbus

390.5

86.9% 345.1

86.4% 324.7

86.8%

Airbus Helicopters

20.8

4.6% 18.0

4.5% 15.8

4.2%

38.4

8.5% 36.1

9.1% 33.5

9.0%

Airbus Defence and Space

449.7

100% 399.2

100% 374.0

100%

Subtotal segmental order backlog

(0.4)

(0.8)

( 0.9)

Eliminations

Total

449.2

398.4

373.1

(1) Before “Eliminations”.

2022 compared to 2021. The € 50.8 billion increase in order backlog to € 449.2 billion (2021: € 398.4 billion) mainly reflected the book-to-bill above one and the strengthening of the US dollar. Airbus’ backlog increased by € 45.3 billion to € 390.4 billion, corresponding to a book-to-bill ratio in units significantly above one (calculated using units of new net orders, i.e. new net orders in units divided by deliveries in units) and the strengthening of the US dollar. Total order backlog at Airbus amounted to 7,239 aircraft at the end of 2022 (as compared to 7,082 aircraft at the end of 2021). Order intake consisted of 820 net orders in 2022 (as compared to 507 in 2021), comprising 770 net firm orders of the A320 Family, 105 A220s, 10 A350s partly offset by higher cancellations than orders on the A330s. Airbus Helicopters’ backlog increased by € 2.8 billion to € 20.8 billion, achieving a book-to-bill ratio above one both in units and value. Total order backlog amounted to 757 helicopters at the end of 2022 (as compared to 739 helicopters at the end of 2021). Airbus Helicopters received 362 net orders in 2022 (as compared to 414 in 2021). Helicopter orders were well spread across programmes and included 12 H160s. Airbus Defence and Space’s backlog increased by €2.3 billion to € 38.4 billion and the book-to-bill ratio in value amounted to around 1.2 with new net orders of € 13.7 billion, including key orders in Demonstrator Phase 1B of the Future Combat Air

System, the Eurodrone unmanned aerial system and 20 latest generation Eurofighters for the Spanish Air Force. 2021 compared to 2020. The € 25.3 billion increase in order backlog to € 398.4 billion (2020: € 373.1 billion) mainly reflected the strengthening US dollar. Airbus’ backlog increased by € 20.4 billion to € 345.1 billion. The book-to-bill ratio in units was below one (calculated using units of new net orders, i.e. new net orders in units divided by deliveries in units). Total order backlog at Airbus amounted to 7,082 aircraft at the end of 2021 (as compared to 7,184 aircraft at the end of 2020). Order intake consisted of 507 net orders in 2021 (as compared to 268 in 2020), comprising 437 net firm orders of the A320 Family, 38 A220s and 32 widebodies, including the first A350 Freighter orders. Airbus Helicopters’ backlog increased by € 2.2 billion to € 18.0 billion, achieving a book-to-bill ratio well above one in terms of units and value. Total order backlog amounted to 739 helicopters at the end of 2021 (as compared to 663 helicopters at the end of 2020). Airbus Helicopters received 414 net orders in 2021 (as compared to 268 in 2020), including 52 H160s, of which 30 were the first batch of H160M military versions for France’s Joint Light Helicopter programme.

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Airbus / Universal Registration Document 2022