UNITED STATES (OBSERVATORY) – European aerospace corporation Airbus Group NV reduced net profit in the first quarter by 31%.
As reported in the company’s press release, consolidated net profit in January-March amounted to 283 million euros, or 0.37 euros per share, compared to 409 million euros, or 0.53 euros per share, for the same period last year.
Profit before tax and interest payments (EBIT) fell to 199 million euros from 575 million euros. Adjusted EBIT – operating profit closely followed by the market – in the last quarter amounted to 14 million euros against the adjusted loss of 19 million euros a year earlier.
Revenue fell by 12% to EUR 10.119 billion compared to EUR 11.442 billion in the previous year.
The total volume of Airbus orders in January-March amounted to 68 commercial aircraft, including 20 A380 airliners, the buyer of which is Emirates Airline. The net volume of orders was 45 aircraft compared to 6 in the first quarter of last year, helicopters – 104 against 60.
Airbus confirmed the forecast, according to which it intends to increase the production of commercial aircraft by more than 11% – to 800, and thereby update the record. In 2018, the company expects an increase in adjusted EBIT by about 20%. It is assumed that the free cash flow by volume will be comparable to last year, when it amounted to 2.949 billion euros.
Also, Airbus announced that it will reduce production of the A330 from next year to about 50 aircraft. In 2017, the company’s customers received 67 of these aircraft, and this year 60 aircraft are planned to be delivered.
Stock quotes Airbus during trading on Friday fell by 0.3%.