The aerospace giant reported a fourth quarter net loss of €1.6 billion or (€1.98) per share on a 19 percent revenue decline to €19.8 billion versus Q4 2019. For the full year, Airbus reported a loss of €1.1 billion on a year-over-year revenue decline of 29 percent to €49.9 billion.
On Thursday (February 18, 2021), Airbus SE (stock exchange symbol: AIR) reported their fourth quarter and full year 2020 financial results. The aerospace giant reported a fourth quarter net loss of €1.6 billion or (€1.98) per share on a 19 percent revenue decline to €19.8 billion compared to the fourth quarter of 2019. For the full year 2020, Airbus reported a net loss of €1.1 billion or (€1.45) per share on a 29 percent year-over-year decline in revenue to €49.9 billion. The company delivered 566 commercial aircraft during 2020 and closed the year with a net cash position of €4.3 billion. In Thursday’s announcement, Airbus’ Chief Executive Officer, Guillaume Faury, said,
“The 2020 results demonstrate the resilience of Airbus in the most challenging crisis to hit the aerospace industry. I want to thank our teams for their great achievements in 2020 and acknowledge the strong support of our Helicopters and Defence and Space businesses. I would also like to thank our customers, suppliers and partners for their loyalty to Airbus. Many uncertainties remain for our industry in 2021 as the pandemic continues to impact lives, economies and societies. We have issued guidance to provide some visibility in a volatile environment. Over the longer term, our ambition is to lead the development of a sustainable global aerospace industry.”
For 2020, Airbus had 268 net commercial aircraft orders and ended the year with a consolidated order book valued at €373 billion. The company delivered 566 aircraft during the year including 38 A220s, 446 A320 Family, 19 A330s, 59 A350s, and four A380s.
Airbus has taken various measures to maintain a strong liquidity position to navigate the COVID-19 crisis, including a new €15.0 billion credit facility. Airbus’ strong credit rating allowed the company to limit their interest expenses to €0.4 billion for the year and extend maturities of funding sources through the issuance of bonds. The company’s full year 2020 CAPEX was down year-over-year by €0.6 billion to approximately €1.8 billion. For 2021, assuming no further disruptions to the world economy, air traffic, the company’s operations and ability to deliver products and services, Airbus expects to achieve the same number of deliveries as 2020, an adjusted EBIT of €2.0 billion, and reach a breakeven free cash flow before M&A and customer financing.
Source: Airbus