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Europe’s Airbus predicted 720 plane deliveries and higher profits in 2022 after core operating profit almost trebled last year on a partial recovery in jet deliveries and higher defence and helicopter earnings during the pandemic.
Europe’s largest 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 some COVID-19 charges.
Airbus said it would propose a dividend of 1.5 euros a share.
The group’s widely watched adjusted operating profit soared to 4.865 billion euros from 1.706 billion a year earlier as revenues rose 4% to 52.149 billion. For 2022, Airbus predicted a core profit of 5.5 billion euros
For the fourth quarter, Airbus posted 1.496 billion euros of adjusted operating income on revenues of 16.994 billion.
Analysts were on average expecting comparable income of 1.364 billion euros on revenues of 16.878 billion, according to a company-compiled consensus.
Airbus reaffirmed plans to raise production of its best-selling A320neo family.
Net cash rose more than 75% to 7.6 billion euros, compared with a pre-crisis level of 12.5 billion.
(Reporting by Tim Hepher; Editing by Sudip Kar-Gupta)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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