After a near-tripling of core profit last year due to a partial recovery in air travel and more robust defense and helicopter earnings, Europe’s Airbus forecasted 720 aircraft deliveries and higher profits in 2022.
It swung to a record net profit of 4.213 billion euros ($4.8 billion). The world’s largest jet maker also ended a two-year dividend drought. It received aid from the pausing of building its A380 superjumbo and a reversal of some COVID-19 penalties. Airbus suggested a 1.5 euro per share dividend. However, he reiterated Airbus’s production ambitions and stated that the market will fully recover between 2023 and 2025.
Revenue increased 4% to 52.149 billion euros, boosted by 611 jet deliveries and cost cuts in helicopters and defense. Hence, the group’s adjusted operating profit jumped to 4.865 billion euros from 1.706 billion euros a year ago.
Airbus forecasted a core profit of 5.5 billion dollars in 2022.
Airbus reported a better-than-expected core profit of 1.496 billion euros on revenue of 16.994 billion euros in the fourth quarter. According to a company-compiled consensus, analysts anticipated 1.364 billion and 16.878 billion, respectively.
On its way back to a pre-crisis level of 12.5 billion euros, net cash increased by more than 75% to 7.6 billion euros.
274 million euros in money boosted Airbus’ profits won back from previous write-offs to close Europe’s largest building, the A380 production factory in Toulouse. It now aims to use to produce in-demand narrowbody jets.
It reduces a 463 million euro charge reported when Airbus ceased construction of the world’s largest airliner due to low sales. In December, the final A380 was delivered.
On the downside, Airbus incurred another 212 million euro charge for the A400M military airlifted; this accumulated to the billions already written off on Europe’s largest defense project.
