PARIS, April 25 (Reuters) – Airbus reported on Thursday a sharp drop in operating profit (Ebit) in the first quarter and well below market expectations, due in particular to a negative effect linked to the increase in the employee shareholding plan.
The European manufacturer posted an adjusted Ebit of 577 million euros, down 25% year-on-year, while analysts expected 789 million euros according to a consensus compiled by the company.
The negative effect linked to the increase in Airbus’ employee shareholding plan led to an increase in expenses over one year of just over 100 million euros, the group explains in a press release.
Furthermore, “tensions persist on the geopolitical scene and in the supply chain”, commented Guillaume Faury, the group’s general manager.
The European aircraft manufacturer announced that it had delivered 142 commercial aircraft in the first quarter of 2024.
Airbus also announced that it would increase the monthly production rate of the A350 to 12 aircraft in 2028. (Writing by Zhifan Liu, editing by Kate Entringer)
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