Airbus Helicopters first-half revenue stays flat

Airbus Helicopters reported a challenging first half (H1) of 2024, with revenue remaining stagnant at €3.2bn despite a significant drop in helicopter deliveries.

Compared with the same period in 2023, the company delivered 21 fewer helicopters, totalling 124 units.

“In H1 2024, we delivered 124 helicopters. So that’s 21 less than in the first half of last year. Revenues stood at €3.2bn, broadly stable year-on-year despite lower deliveries and reflecting a solid performance in services,” said Guillaume Faury, Airbus CEO during the earnings call.

With revenues staying flat, the segment’s earnings before interest and taxes (EBIT) witnessed a 14% decline to €230m as a result of higher costs.

Despite the delivery slump, Airbus Helicopters saw a positive trend in order intake, with a 78% increase in new orders compared to the previous year. The company’s order book at the end of June stood at 913 units, representing a 23% year-over-year growth.

On a consolidated basis, Airbus reported a 4%YoY increase in revenue to €28.8bn. However, the aerospace giant’s earnings per share plummeted by 78% due to substantial charges incurred in its space business.

Airbus CEO Guillaume Faury, while speaking to analysts during the earnings call, acknowledged the challenges faced by the helicopter division and the company as a whole, emphasising the need to address the underlying issues in the space business.