Airbus posts sharply higher core profit and restarts dividend

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 defense 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 E4.213b, boosted by the halting of its A380 superjumbo and a reversal of some Covid-19 charges. Airbus said it would propose a dividend of E1.5 a share. The group’s widely watched adjusted operating profit soared to E4.865b from 1.706 billion a year earlier as revenues rose 4% to 52.149b. For 2022, Airbus predicted a core profit of E5.5b. For Q4, Airbus posted E1.496b of adjusted operating income on revenues of 16.994b. 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 E7.6b, compared with a pre-crisis level of 12.5b.<br/>