Airbus Swung to Loss in 1Q as Pandemic Hit Sales
April 29 2020 - 1:35AM
Dow Jones News
By Olivia Bugault
Airbus SE swung to a net loss in its first quarter, while
revenue fell sharply, as the European jet maker faces a sharp
decline in demand world-wide, triggered by the coronavirus
pandemic.
Net loss was 481 million euros ($520.45 million), compared with
a net profit of EUR40 million a year earlier, while revenue fell
15% at EUR10.63 billion.
Analysts were expecting sales to come in at EUR10.65 billion,
according to a consensus estimate provided by FactSet. The decline
is mainly due to the commercial jets that have not been delivered
during the period because of the pandemic.
Airbus's more closely watched adjusted earnings before interest
and taxes plunged 49% to EUR281 million.
Airbus reported free cash outflow before merger &
acquisition and customer financing of EUR8.03 billion.
The Toulouse, France-based company said that it won't issue a
new guidance for the year as the visibility is still too low.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
April 29, 2020 01:20 ET (05:20 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Airbus (EU:AIR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Airbus (EU:AIR)
Historical Stock Chart
From Apr 2023 to Apr 2024
