Airbus earns 3,789 million in 2023, down 11%, affected by the Defense division
18-02-24
Airbus posted an 11% decline in earnings in 2023, totaling €3,789 million, a figure negatively impacted by various charges in its Defense and Space division. This result was mainly affected by a €600 million provision associated with its OneSat telecommunications satellite program and by a series of incidents and delays in the development of the new Ariane 6 rocket, whose maiden launch has been postponed until mid-2024.
During the presentation of the annual results, Airbus CEO Guillaume Faury acknowledged that previous cost estimates turned out to be more optimistic than reality, requiring significant adjustments. Despite these challenges, Faury highlighted the achievement of a robust order backlog and described the OneSat program as "fantastic", evidencing a positive approach towards the future of the space business, although he acknowledged the strong pressure faced by this division.