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Airbus SE Q3 Adj. EBIT Declines - Quick Facts

(RTTNews) - Airbus SE (EADSF.PK, EADSY.PK) reported a third quarter net loss of 767 million euros compared to profit of 989 million euros, prior year. Loss per share was 0.98 euros compared to profit of 1.27 euros. Consolidated EBIT adjusted was 820 million euros, a decline of 49% year-on-year. The company said its third quarter EBIT adjusted mainly reflects lower commercial aircraft deliveries and lower activities in the space business.

Third quarter revenues were 11.21 billion euros, compared to 15.30 billion euros, last year. The company said its third revenues decreased by 27%, mainly driven by lower deliveries at Airbus and lower revenues at Airbus Defence and Space.

For the nine month period, EBIT adjusted was negative at 125 million euros compared to EBIT adjusted of 4.13 billion euros, last year. Consolidated revenues decreased to 30.2 billion euros from 46.2 billion euros.

The company targets at least breakeven free cash flow before M&A and customer financing in the fourth quarter of 2020.

"Despite the slower air travel recovery than anticipated, we converged commercial aircraft production and deliveries in the third quarter and we stopped cash consumption in line with our ambition," said Airbus CEO Guillaume Faury.
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