Airbus Swung to Loss in 2019, Sets 2020 Guidance
February 13 2020 - 1:42AM
Dow Jones News
By Olivia Bugault
Airbus said Thursday that it swung to a loss in 2019 and set new
targets for 2020.
Airbus said its full-year net loss was 1.36 billion euros ($1.48
billion) compared with a net profit of EUR3.05 billion in 2018.
The company was hit by EUR3.6 billion in penalties related to a
corruption probe settlement. The loss included "a negative impact
from the financial result, mainly driven by the revaluation of
financial instruments," Airbus said.
Sales rose 11% at EUR70.48 billion.
Airbus's more closely watched adjusted earnings before interest
and taxes rose 19% to EUR6.95 billion from EUR5.84 billion. For its
fourth quarter, adjusted EBIT came in at EUR2.81 billion.
The Toulouse, France-based company said deliveries would rise
again in 2020, with a guidance of roughly 880 planes handed over
this year after delivering 863 in 2019. Airbus overtook Boeing Co.
last year as the world's largest aircraft manufacturer.
The aerospace giant expects an adjusted EBIT of roughly EUR7.5
billion this year.
Airbus declared a dividend of EUR1.80 a share for 2019.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
February 13, 2020 01:27 ET (06:27 GMT)
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