Paris, May 4, (dpa/GNA) - Missing components and other issues in the supply chain led to a decline in profit for European aircraft manufacturer Airbus in the first quarter.
Nevertheless, Airbus boss Guillaume Faury on Wednesday said he is sticking to his goal of delivering around 720 commercial aircraft to customers this year.
Airbus reported that its net income for the first quarter dropped to €466 million ($516 million) from last year’s €1.22 billion, with earnings per share declining to €0.59 from €1.55 in the prior year.
Core operating earnings decreased to €773 million from €1.26 billion in the previous year, reflecting the lower deliveries and a positive boost from pension obligations a year earlier.
Consolidated revenues slightly decreased to €11.76 billion from last year’s €12 billion.
A total of 127 commercial aircraft were delivered in the quarter compared to 142 aircraft a year earlier.
The company said its 2023 guidance is unchanged.
The company targets to achieve around 720 commercial aircraft deliveries and adjusted EBIT of €6 billion.
“The first quarter confirmed strong demand for our products, particularly for commercial aircraft,” Faury said.
“We continue to face an adverse operating environment that includes in particular persistent tensions in the supply chain. Our 2023 guidance is unchanged with commercial aircraft deliveries expected to be backloaded. We remain focused on delivering the commercial aircraft ramp-up and longer-term transformation.”
GNA