Airbus
Note: This is a daily stock update and the information stands true as of 06/09/24, 09:00 CEST.
Company Update:
Delivery for August stood at only 47 planes in August vs 77 in July and 52 in August 23. YTD the company delivered 447 planes and the target of 770 seems optimistic even with a December delivery above 100.
We believe the company is still experiencing issues with its supply chain and possibly especially from its engine suppliers.
This could translate into higher cash consumption in H2 with WCR increasing due to increased inventories.
Expert Opinion:
The newsflow is negative, between this week's delivery and the issues on the A350. Yes, momentum is adverse but the very favourable long-term story remains unchanged: there is simply no alternative to Airbus and (to a lesser extent) Boeing. Based on our numbers, valuation isn’t excessive (PE24 at 19.4x down to 12.7x in 2026). Airbus remains a very strong buy and hold in my opinion, a stock to win over the next decade.
For daily updates, subscribe to our newsletter and for detailed daily updates, reach our to us at sales@alphavalue.eu
Company Update:
Delivery for August stood at only 47 planes in August vs 77 in July and 52 in August 23. YTD the company delivered 447 planes and the target of 770 seems optimistic even with a December delivery above 100.
We believe the company is still experiencing issues with its supply chain and possibly especially from its engine suppliers.
This could translate into higher cash consumption in H2 with WCR increasing due to increased inventories.
Expert Opinion:
The newsflow is negative, between this week's delivery and the issues on the A350. Yes, momentum is adverse but the very favourable long-term story remains unchanged: there is simply no alternative to Airbus and (to a lesser extent) Boeing. Based on our numbers, valuation isn’t excessive (PE24 at 19.4x down to 12.7x in 2026). Airbus remains a very strong buy and hold in my opinion, a stock to win over the next decade.
For daily updates, subscribe to our newsletter and for detailed daily updates, reach our to us at sales@alphavalue.eu
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