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Airbus turns to profit in Q4

Christian Fernsby |
Airbus reported Thursday that its fourth-quarter consolidated net income was 1.55 billion euros, compared to prior year's loss of 3.55 billion euros.

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Topics: AIRBUS   

Earnings per share were 1.98 euros, compared to loss of 4.56 a year ago.

Consolidated EBIT was 1.68 billion euros, compared to prior year's loss of 2.09 billion euros. Adjusted EBIT declined 35 percent to 1.83 billion euros.

Revenues decreased 19 percent to 19.75 billion euros from 24.31 billion euros last year, mainly driven by lower deliveries at Airbus, partially offset by higher revenues at Airbus Helicopters and Airbus Defence and Space.

In the year 2020, consolidated order intake by value decreased to 33.3 billion euros from prior year's 81.2 billion euros, with the consolidated order book valued at 373 billion euros as of December 31, down from 471 billion euros a year ago. The company delivered 566 commercial aircraft in adverse market environment.

Given the global business environment, there will be no dividend proposed for 2020.

Looking ahead for fiscal 2021, the company targets to at least achieve adjusted EBIT of 2 billion euros, higher than last year's 1.7 billion euros; and same number of commercial aircraft deliveries as in 2020.

Airbus Chief Executive Officer Guillaume Faury, said, "Many uncertainties remain for our industry in 2021 as the pandemic continues to impact lives, economies and societies. We have issued guidance to provide some visibility in a volatile environment. Over the longer term, our ambition is to lead the development of a sustainable global aerospace industry."

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