Airbus // Universal Registration Document 2023

2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

2.1 Operating and Financial Review

For 2022, revenues increased by 12.7%, from € 52.1 billion for 2021 to €58.8 billion for 2022. The increase was mainly driven by higher aircraft deliveries and higher contributions from Airbus Defence and Space and Airbus Helicopters. It also reflected a positive foreign exchange impact at Airbus.

Revenue by Geographical Areas

2

2023

2022

2021

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

Asia/Pacific

18.7

28.6% 15.4

26.2% 16.0

30.6%

Europe

25.7

39.3% 24.3

41.3% 19.5

37.4%

North America

13.8

21.1% 13.5

23.0% 10.5

20.2%

Other countries (2)

7.2

11.0%

5.6

9.5%

6.1

11.8%

Total

65.4

100% 58.8

100% 52.1

100%

(1) Percentage of total revenue after eliminations. (2) Including the Middle East.

Airbus The following table presents a breakdown of deliveries of commercial aircraft by product type for the past three years.

2023

2022

2021

(In units)

A220

68

53

50

A320 Family

571

516

483

A330

32

32

18 (2)

A350

64

60 (1)

55

A380

0

0

5

Total

735

661

611

(1) After a reduction of two aircraft previously recorded as sold in December 2021 for which a transfer was not possible due to international sanctions against Russia. (2) Two A330s delivered on operating lease.

Airbus’ revenues increased by 15.3%, from € 41.4 billion for 2022 to € 47.8 billion for 2023. This reflects higher aircraft deliveries of 735 aircraft (compared to 661 deliveries in 2022).

For 2022, Airbus’ revenues increased by 14.4%, from € 36.2 billion for 2021 to € 41.4 billion for 2022. This reflected higher deliveries of 661 aircraft (compared to 611 deliveries in 2021) and a positive foreign exchange impact.

Airbus Helicopters The following table presents a breakdown of deliveries of helicopters by product type for the past three years.

2023

2022

2021

(In units)

Light

179

167

159

Medium

132

123

121

Heavy

35

54

58

thereof NH90

19

28

27

Tiger

0

0

0

Total

346

344

338

Airbus Helicopters’ revenues amounted to €7.3 billion in 2023 (2022: € 7.0 billion). This increase reflects the overall performance across programmes and services.

Airbus Helicopters’ revenues amounted to €7.0 billion in 2022 (2021: € 6.5 billion). This increase reflected growth in services and a favourable mix in programmes.

179 Airbus Annual Report

Universal Registration Document 2023