Airbus takes 1.3 billion euros charge on A400M military plane

Europe`s largest aerospace group posted adjusted 2017 operating profit of 4.253 billion euros on revenues of 66.767 billion euros and predicted a 20 percent rise in adjusted operating income in 2018.  

Airbus takes 1.3 billion euros charge on A400M military plane
An Airbus A400M aircraft flies during a display on the first day of the 52nd Paris Air Show at Le Bourget airport near Paris. Image source: Reuters
Updated: Thu, Feb 15, 2018
11:29 am
Reuters
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Airbus on Thursday took a 1.3 billion euros ($1.6 billion) writedown on its A400M military transport plane, lifting cumulative charges on Europe`s troubled defence project above 8 billion euros and clouding higher-than-expected underlying profits.

Europe`s largest aerospace group posted adjusted 2017 operating profit of 4.253 billion euros on revenues of 66.767 billion euros and predicted a 20 percent rise in adjusted operating income in 2018.

Analysts were on average expecting adjusted 2017 operating profits of 3.996 billion euros and revenues of 67.343 billion, according to a poll conducted for Reuters.