Airbus Se Unsp/Adr

Ladies and gentlemen, thank you for standing by. Welcome to the Airbus Nine Months 2026 earnings release conference call. I am Laura, the operator for this conference. Please note that for the duration of the presentation, all participants will be in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. At this time, I would like to turn the conference over to Jean-Christophe Henoux, Head of Investor Relations. Please go ahead.

Thank you, Laura, and a very warm welcome to everyone joining us today to dive into our nine-month 2026 results. I'm in Amsterdam with our CEO, Guillaume Faury, and our CFO, Thomas Toepfer, and they are here to break down the numbers and take your questions. This call is planned to last one hour, including Q&A, and the replay plus transcripts will be available on our website. Today's presentation and the detailed financial statements are already available on Airbus' website. Before we start, let me remind you that we will be making some forward-looking statements. I encourage you to take a look at the safe Airbus statement in our presentation slides. It's important stuff, so please have a quick read. And with that, let's get things started. Guillaume, the floor is yours.

Thank you, JC. And hello, ladies and gentlemen. Hello, everyone. Thank you for joining us today for the nine-month 2026 earning call. Thomas and I, as said by JC, are here in Amsterdam to run you through our results. To begin, I want to express my most sincere sympathies to everyone affected by the Our thoughts are with the victims, with their families, and also with the first responders who are managing the accident. It took place on the line connecting Madrid and Seville, two cities which are very close to our hearts here at Airbus. Moving forward, the global geopolitical and operating environment remains complex for Airbus and its customers who are navigating volatile jet fuel prices. Against this backdrop, we maintain our upward trajectory, driving forward our civil and military ramp-up to deliver on our strong backlog. Looking to our divisions, defense momentum remains strong in Europe and globally. Our portfolio continues to prove its essential role in ensuring sovereignty and security. In our commercial business, we delivered 196 aircraft in Q3, bringing our year-to-date deliveries to 547, up from 507 over the same period last year, so 40 more. While achieving this, we are addressing two quality topics that I will detail later. Our delivery profile is again back-end loaded. As we speak, our teams are fully mobilized for a successful year-end rally. With this in mind, EBIT adjusted stood at 4.5 billion euros and free cash flow before customer financing at minus 1.3 billion euros. And our 2026 guidance remains unchanged. Now let's look at our commercial environments. Starting with commercial aircraft, passenger traffic was largely resilient against the volatile backdrop, while air cargo maintains an upward trend. We continue to closely monitor how the macroeconomic environment could impact air traffic and our customers. Our robust and diversified backlog supports our own company resilience. During 9 months 26 we booked 1174 gross orders of which 182 A220s, 830 for the A320 family and 67 A330s. On the A350 we booked 95 gross orders including 34 A350 freighters which underpins our strong wide body order momentum. Net orders amounted to 1,105 aircraft, including 69 cancellations, which were largely embedded in our backlog valuation at full year 25. Our backlog in units stood at 9,310 aircraft at the end of September 2026. Let me highlight the growth we anticipate for the services market, as outlined in our latest global services forecast, which projects the market demand will double over the next 20 years. Airbus provides a full range of services across the aircraft lifecycle and we have strong ambitions there. Looking at helicopters, in the nine months we booked 311 net orders compared with 306 in the nine months of 2025. The order intake includes 10 so-called UH-72B, the Lakota helicopters, for the U.S. Army to modernize its fleet, and they are based on the widely successful H-145. On the H-225M, the government of Romania has signed a contract for the procurement of 12 Airbus multi-role helicopters. This contract is the second one signed by Romania and Airbus helicopters in the context of the European Union SAFE initiative. Finally, we celebrated the official start of the series production of the H-140 in Germany, excellent H-140 helicopter, with the first airframe successfully manufactured on the newly set up assembly line earlier this quarter. Overall, we continue to see good momentum in both the civil and military markets and remain fully focused on delivering on expectations. Finally, on defense and space, we continue to observe very strong order dynamics for the division, with order intakes standing at 11.5 billion euros across all segments. So 11.5 billion euros in the nine months. That's very strong. In Q3, we secured strong wins in space systems, driven by the growing momentum towards European strategic autonomy. Notably, Airbus was selected by Eutelsat to be the further 229 OneWeb Low Earth Orbit Satellites. Furthermore, we are pleased to see IRIS Square moving forward as a European program and we will support by producing platforms for at least 66 LEO satellites. And now Thomas will take you through our financials. Thomas?