Airbus reported an increase of adjusted earnings before interest and taxes (EBIT) of 19% to €6.9bn in 2019, however this excludes the firm’s recent record €3.6 billion fine imposed by US, UK and Brazilian authorities relating to bribery and corruption.
The main driver of this increase was higher production levels on A320 aircraft over the previous 12 months as well as achieving break-even on the A350 wide-body airplane, which saw consolidated revenues increase to €70.5bn from €63.7bn.
Airbus chief executive Guillaume Faury, said the firm had managed a very positive 2019 due to the performance of its commercial aircraft deliveries, and acknowledged the significance of its recent fine and said that the next 12 months would include a continued emphasis on the firm’s corporate culture.
“Our focus in 2020 will be on reinforcing our company culture, improving operationally, and adjusting our cost structure to strengthen the financial performance and prepare for the future.”
Airbus reported that net commercial aircraft orders increased to 768 aircraft, compared with 747 for 2018 which led to an increase in consolidated revenues increased to € 70.5 billion, from € 63.7 billion for the previous year, and favourable exchange rate movements.
Airbus delivered 863 commercial aircraft in 2019, which was an increase on the 800 achieved in 2018.
Airbus gave a positive outlook for 2020, despite the ongoing impact of the coronavirus, and predicted that the world economy and air traffic would grow in line with consensus forecasts and the firm is targeting 880 commercial aircraft deliveries for 2020