By Olivia Bugault

 

Airbus SE said Thursday that it expects higher earnings and aircraft deliveries this year after booking lower sales in the fourth quarter as it delivered fewer commercial planes.

The European plane maker said it expects to deliver 720 commercial jets this year, up from 611 in 2021, and it is targeting adjusted earnings before interest and taxes of 5.5 billion euros ($6.26 billion), which compares with EUR4.87 billion last year. Free cash flow before mergers and acquisitions and customer financing should be around EUR3.5 billion this year, it said.

Airbus posted a net profit of EUR1.58 billion in the fourth quarter compared with EUR1.55 billion in the same period a year earlier. Revenue fell 14% to EUR16.99 billion due to fewer plane deliveries, as well as lower revenues at its helicopters and defense and space divisions, it said.

Airbus's more closely watched adjusted EBIT fell 18% to EUR1.5 billion, it said.

Results beat market expectations as analysts expected revenue at EUR16.88 billion and adjusted EBIT at EUR1.36 billion for the quarter, according to a consensus provided by the company.

The company will propose a dividend of EUR1.5 a share for 2021, it said. The company didn't propose a dividend for 2020.

Airbus reported free cash flow before mergers and acquisitions and customer financing of EUR3.52 billion at the end of 2021.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

February 17, 2022 01:47 ET (06:47 GMT)

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