Airbus Issues 2021 Guidance After Booking a Fourth-Quarter Profit
By Olivia Bugault
Airbus SE booked an unsurprising net loss for 2020 despite
turning a profit in its fourth quarter and issued a guidance for
The European plane maker said Thursday its full-year net loss
was 1.13 billion euros ($1.36 billion), compared with a loss of
EUR1.36 billion in 2019 when it was hit by a EUR3.6 billion penalty
related to a corruption settlement probe. For its fourth quarter,
net profit came in at EUR1.55 billion.
The aerospace giant's closely watched adjusted earnings before
interest and taxes fell 75% in 2020 to EUR1.71 billion. Revenues
fell 29% to EUR49.91 billion.
Free cash flow before merger & acquisition and customer
financing was roughly EUR4.9 billion in the fourth quarter and
Airbus ended 2020 with a total outflow of EUR6.94 billion, it
The company, based in Toulouse, France, company issued guidance
for 2021 assuming no further disruptions to the world economy and
air traffic because of the coronavirus pandemic. On that basis, the
company targets at least the same number of aircraft deliveries in
2021 than in 2020 and an adjusted EBIT of EUR2 billion or more.
Airbus also targets at least breakeven free cash flow before
M&A and customer financing at the end of the year.
The company won't propose a dividend for 2020, it said.
"Many uncertainties remain for our industry in 2021 as the
pandemic continues to impact lives, economies and societies,"
Airbus's Chief Executive Officer Guillaume Faury said.
Write to Olivia Bugault at firstname.lastname@example.org
(END) Dow Jones Newswires
February 18, 2021 01:18 ET (06:18 GMT)
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