PARIS (Edgefie-Dow Jones) – European aerospace and defense group Airbus Group announced on Thursday that it was targeting high adjusted operating income (EBIT) in 2021 and a pioneering epidemic that reduced cash flow after 2020. is. However, the group managed to generate significant cash flow in the fourth quarter.

For 2021, Airbus intends to deliver at least 2 billion euros in 2020, ie at least 2 billion euros and a significant measurement of the group’s profits, at least as many aircraft to produce cash flow before mergers and acquisitions is. At least when broken.

The European group unveiled this approach after recording a strong cash generation in the fourth quarter. Free cash flow was 4.9 billion euros in the last quarter of 2020 before mergers and acquisitions and customer financing. Airbus had indicated that it was aiming for at least positive cash flow for the period.

In the fourth quarter, Airbus made a profit of 1.55 billion euros, a net loss of 3.5 billion euros from a year earlier, punished by a number of extraordinary allegations in the fourth quarter of 2019. Adjusted EBIT fell 35% to € 1.8 billion.

Revenue fell 19% to 19.75 billion euros in the fourth quarter. The Civil Aeronautics division, which represents more than three quarters of its revenue, achieved a turnover of 14 billion euros, down 14%.

Analysts polled by FactSet expected an average EUR 18.4 billion, adjusted EBIT of 1.4 billion EUR and net profit of EUR 487 million.

For the full 2020, Airbus incurred a net loss of 1.1 billion euros, while its adjusted debit fell 75% to 1.7 billion euros. Its revenue fell 29% to 49.9 billion euros.

The group also recorded cash disbursements before mergers and acquisitions and customer financing of 6.9 billion euros. This cash outflow is specifically due to the payment of fines of EUR 3.6 billion that Airbus agreed to negotiate to end proceedings for corruption in France, the United States and the United Kingdom and which was recorded in the first quarter .

Airbus also indicated that its board of directors would not propose to pay dividends for 2020, given the current environment. The group stated, “The decision is intended to strengthen the company’s financial resilience by protecting net cash and supporting its capacity to adapt to changing circumstances.”

-Julian Marion, Agfi-Dow Jones; +33 (0) 1 41 27 47 94; [email protected] Ed: VLV

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18 February 2021 01:15 ET (06:15 GMT)