Despite the crisis: Airbus share wins: Airbus increases operating profit and confirms outlook | message
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The results were slightly better than analysts expected. The aerospace company has confirmed its cautious forecast for the current year.
“The first quarter shows that the crisis is not over for the industry and that the market remains uncertain,” said Airbus boss Guillaume Faury in the press release.
In the months of January to March, sales fell by 2 percent to 10.46 billion euros, as announced by Airbus SE. Adjusted EBIT, on the other hand, rose to 694 million euros from 281 million in the previous year. The bottom line was earnings after taxes and third parties of 362 million euros after a loss of 481 million euros. The earnings per share were 46 cents.
By consensus, analysts had expected sales of 10.243 billion euros and an adjusted EBIT of 635 million euros as well as earnings per share of 48 euro cents.
Free cash flow (FCF) before mergers and acquisitions as well as customer financing was 1.2 billion euros in the first quarter for the year as a whole. In the previous year this value was minus 8 billion euros.
For 2021, Airbus continues to forecast an increase in adjusted EBIT to 2 billion euros from 1.706 billion last year. That is a ray of hope, but still significantly less than the operating profit from the pre-crisis year 2019 of 6.946 billion. The aircraft deliveries should be at the previous year’s level, in the Airbus 566 commercial aircraft downhill to customers. The FCF before M&A and customer financing should reach breakeven in the current year.
For the Airbus share on Thursday via XETRA it rose temporarily by 2.64 percent to 101.90 euros.
(Assistance: Stefanie Haxel)
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