Airbus posts higher core profit and restarts dividend

February 18, 2022: -Europe’s Airbus predicted 720 plane deliveries and higher profits in 2022 after core operating profit almost trebled in the previous year on a partial recovery in jet deliveries and higher defense and helicopter earnings during the pandemic.

Europe’s colossal aerospace group also restarted its dividend for the first time in two years after swinging to a record net profit of 4.213 billion euros ($4.8 billion), boosted by the halting of its A380 superjumbo and a reversal of a few Covid-19 charges. Airbus said it would propose a dividend of 1.5 euros a share.

The group’s widely watched adjusted after it operates profit soared to 4.865 billion euros from 1.706 billion a year earlier as revenues increased 4% to 52.149 billion. By 2022, Airbus predicted a core profit of 5.5 billion euros.

For the fourth quarter, Airbus is posting 1.496 billion euros of adjusted operating income on revenues of 16.994 billion.

Analysts were, on average, expecting a comparable income of 1.364 billion euros on revenues of 16.878 billion, according to a company-compiled consensus.

Airbus reaffirmed plans to increase production of its best-selling A320neo family. Net cash rose over 75% to 7.6 billion euros, compared with a pre-crisis level of 12.5 billion.