Airbus // Universal Registration Document 2021

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

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

to euro using the spot rate as of 31 December 2021, 2020 and 2019, respectively. Adjustments to the value of the order backlog could result from changes in the transaction price. Options are

ORDER INTAKE

2021

2020

2019

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

Airbus

40.0

64.3% 16.1

48.1% 65.8

80.7%

Airbus Helicopters

8.6

13.7%

5.5

16.4%

7.2

8.8%

Airbus Defence and Space

13.7

22.0% 11.9

35.5%

8.5

10.5%

Subtotal segmental order intake

62.2

100% 33.5

100% 81.5

100%

Eliminations

(0.2)

(0.2)

(0.3)

Total

62.0

33.3

81.2

(1) Before “Eliminations”.

ORDER BACKLOG

31 December

2021

2020

2019

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

Airbus

345.1

86.4% 324.7

86.8% 424.1

89.7%

Airbus Helicopters

18.0

4.5% 15.8

4.2% 16.6

3.5%

Airbus Defence and Space

36.1

9.1% 33.5

9.0% 32.3

6.8%

Subtotal segmental order backlog

399.2

100% 374.0

100% 473.0

100%

Eliminations

(0.8)

(0.9)

(1.5)

Total

398.4

373.1

471.5

(1) Before “Eliminations”.

service support of the German and Spanish Eurofighter fleets as well as export contracts for the C295 (India), A330 MRTT (United Arab Emirates and Spain) and A400M airlifter (Republic of Kazakhstan). 2020 compared to 2019. The € -98.4 billion decrease in order backlog to €373.1 billion (2019: €471.5 billion), reflected higher number of deliveries compared to order intake, the weakening of the US dollar and an assessment of the order backlog’s recoverability. Airbus’ backlog decreased by € -99.4billion to €324.7billion. 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 7,184 aircraft at the end of 2020 (as compared to 7,482 aircraft at the end of 2019). Order intake consisted of 268 net orders in 2020 (as compared to 768 in 2019), including mainly 263 net firm orders of the A320 Family and 30 A220s. Airbus Helicopters’ backlog decreased by € -0.8 billion to €15.8 billion and the book-to-bill ratio amounted to 0.9 in terms of value, including 31 NH90s for the German Bundeswehr and 11 H160s. Airbus Helicopters received 268 net orders in 2020 (as compared to 310 in 2019). Total order backlog amounted to 663 helicopters at the end of 2020 (as compared to 695 helicopters at the end of 2019).

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 €20.4billion to €345.1billion. The book to bill ratio in units was below 1 (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 1 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 H160Mmilitary versions for France’s Joint Light Helicopter programme. Airbus Defence and Space’s backlog increased by €2.6 billion to €36.1 billion and the book-to-bill ratio in value amounted to 1.3 with new net orders of €13.7 billion, including key orders in the Military Aircraft business such as the contracts for the in-

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Airbus / Registration Document 2021