Airbus Group reports sharp profit declines in 1Q2016

Airbus Group revenue up 1% - financial highlights for three months ended 31-Mar-2016:

• Revenue: EUR12,183 million, +1% year-on-year;
• • Commercial aircraft: EUR8668 million, +1%;
• EBIT before one-offs: EUR501 million, -23%;
• • Commercial aircraft: EUR407 million, -28%;
• EBIT: EUR365 million, -71%;
• • Commercial aircraft: EUR290 million, -31%;
• Net profit: EUR399 million, -50%;
• Total assets: EUR109,390 million;
• Cash and cash equivalents: EUR6711 million;
• Total liabilities: EUR101,527 million. [more- original PR]

Airbus Group: "As the basis for its 2016 guidance, Airbus Group expects the world economy and air traffic to grow in line with prevailing independent forecasts and assumes no major disruptions. 2016 earnings and free cash flow guidance is based on a constant perimeter. In 2016, Airbus expects to deliver more than 650 aircraft and the commercial order book is expected to grow." Source: Company statement, 28-Apr-2016.