Airbus Posts Swing to First-Quarter Profit, Confirms 2021 Views
April 29 2021 - 1:25AM
Dow Jones News
By Olivia Bugault
Airbus SE swung to net profit in its first quarter, the company
said Thursday as it confirmed its guidance for 2021.
Net profit stood at 362 million euros ($438.9 million), compared
with a net loss of EUR481 million a year earlier. Revenue fell 2%
to EUR10.46 billion.
Airbus's more closely watched adjusted earnings before interest
and taxes more than doubled during the first three months of the
year to EUR694 million from EUR281 million, it said.
The increase in earnings is mainly due to good cost and cash
control, as well as the 125 commercial planes delivered during the
period and restructuring progress, the company said.
However, "the first quarter shows that the crisis is not yet
over for our industry, and that the market remains uncertain,"
Airbus Chief Executive Guillaume Faury said.
The aerospace giant confirmed its guidance for 2021, including
its target to at least match the 566 deliveries it made last
year.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
April 29, 2021 01:10 ET (05:10 GMT)
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