Airbus // Universal Registration Document 2023
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 2.1 Operating and Financial Review
2.1.3 Performance Measures
2.1.3.1 Business segments Airbus
2023
2022
2021
(In €million)
Revenue
47,763
41,428
36,164
EBIT
3,610
4,800
4,175
in % of revenue
7.6%
11.6%
11.5%
Airbus Helicopters
2023
2022
2021
(In €million)
Revenue
7,337
7,048
6,509
EBIT
717
639
535
in % of revenue
9.8%
9.1%
8.2%
Airbus Defence and Space
2023
2022
2021
(In €million)
Revenue
11,495
11,259
10,186
EBIT
220
(118)
568
in % of revenue
1.9%
(1.0%)
5.6%
2.1.3.2 Order Intake and Order Backlog Year-end order backlog consists of contracts signed up to that date. Only firm orders are included in calculating the order backlog for commercial aircraft and civil helicopters. A firm order is defined as one for which the Company receives a down payment on a definitive contract. Defence-related orders are included in the backlog upon enforcement of the signed contract. Commitments under defence “umbrella” or “framework” agreements by governmental customers are not included in backlog until the Company is officially notified. The total order backlog and order intake represent the aggregate amount of the net transaction price allocated to the unsatisfied and partially unsatisfied performance obligations to
the Company’s customers. Backlog commitments are relative to the Company’s enforceable contracts with its customers where it is probable that the consideration will be collected. Contractual rebates, engine concessions and variable considerations are taken into account for measurement. Contracts stipulated in a currency different from the presentation currency are translated to euro using the spot rate as of 31 December 2023, 2022 and 2021, 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. In 2024, approximately 9% of the Airbus backlog in units is expected to be converted into revenues.
ORDER INTAKE
2023
2022
2021
(In € billion) (In percentage) (1)
(In € billion) (In percentage) (1)
(In € billion) (In percentage) (1)
Airbus
162.6
87.0% 59.7
72.2% 40.0
64.3%
Airbus Helicopters
8.6
4.6%
9.3
11.2%
8.6
13.7%
Airbus Defence and Space
15.7
8.4% 13.7
16.6% 13.7
22.0%
Subtotal segmental order intake
186.9
100% 82.7
100% 62.2
100%
Eliminations
(0.4)
(0.2)
(0.2)
Total
186.5
82.5
62.0
(1) Before “Eliminations”.
174 Airbus Annual Report
Universal Registration Document 2023
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