Airbus said Thursday that it swung to a loss in 2019 and set new targets for 2020.
Airbus AIR, +0.42% said its full-year net loss was 1.36 billion euros ($ 1.48 billion) compared with a net profit of EUR3.05 billion in 2018.
The company was hit by EUR3.6 billion in penalties related to a corruption probe settlement. The loss included “a negative impact from the financial result, mainly driven by the revaluation of financial instruments,” Airbus said.
Sales rose 11% at EUR70.48 billion.
Airbus’s more closely watched adjusted earnings before interest and taxes rose 19% to EUR6.95 billion from EUR5.84 billion. For its fourth quarter, adjusted EBIT came in at EUR2.81 billion.
The Toulouse, France-based company said deliveries would rise again in 2020, with a guidance of roughly 880 planes handed over this year after delivering 863 in 2019. Airbus overtook Boeing Co BA, +0.89% last year as the world’s largest aircraft manufacturer.
The aerospace giant expects an adjusted EBIT of roughly EUR7.5 billion this year.
Airbus declared a dividend of EUR1.80 a share for 2019.
