By Mauro Orru


Airbus posted higher fourth-quarter revenue and said it expects to deliver more planes to customers this year than in 2023, even as supply-chain hurdles persist.

The European plane maker anticipates about 800 commercial aircraft deliveries this year, above a 720 target that Airbus had set itself for 2023 and more than the 735 planes it actually delivered. The group was expected to guide for 813 deliveries this year, according to consensus estimates by Visible Alpha.

"In 2023 we recorded strong order intake across all our businesses and we delivered on our commitments. This was a significant achievement given the complexity of the operating environment," said Chief Executive Guillaume Faury.

The industry has been grappling for months with supply-chain woes that have made it harder to procure some raw materials and spare parts, slowing aircraft production and, consequently, deliveries. Airbus had originally hoped to deliver 720 planes in 2022, but was forced to postpone that goal to 2023.

Airbus's optimism that aircraft deliveries will keep growing comes as rival Boeing is grappling with the fallout from an Alaska Airlines emergency landing in January after a section of the aircraft ripped away in midair, prompting a temporary grounding and immediate inspections of dozens of Boeing 737 MAX jets.

Earlier this week, Boeing said it delivered 27 jets--almost all of them 737 MAXs--in January, a sharp decrease from prior months.

J.P. Morgan analysts wrote in a note to investors that they remained positive on Airbus's medium-term outlook, citing rising deliveries for years to come and "a competitor with a lot of problems."

On Thursday, Airbus said it continues to expect to produce 75 of its A320 narrow-body aircraft a month in 2026. For its A330 wide-body, Airbus is aiming for four a month in 2024, while production of its bigger A350 model is expected to reach 10 aircraft a month in 2026.

Airbus had slashed production of its wide-body planes early on in the coronavirus pandemic, when travel restrictions and border closures brought international traffic to a near standstill. However, airlines are now scrambling for planes to expand capacity to meet strong demand for international air travel.

The group posted revenue of 22.89 billion euros ($24.56 billion) for the three months to the end of December, up 11% on year.

Net profit slipped 13% to EUR1.46 billion, while adjusted earnings before interest and taxes--Airbus's preferred measure of profitability--climbed 3% to EUR2.21 billion.

Analysts had expected revenue of EUR22.47 billion on a net profit of EUR1.59 billion and adjusted EBIT of EUR2.27 billion, according to a market consensus provided by the company based on estimates from 26 analysts.

Airbus said it would propose a 2023 dividend of EUR1.80 a share and a special dividend of EUR1.00 a share at its annual general meeting on April 10. The group paid a EUR1.80 a share dividend for 2022.

"Our dividend proposals are a reflection of the strong 2023 financials, our growth prospects in 2024 and balance sheet strength," Faury said.

For 2024, Airbus said it expects adjusted EBIT between EUR6.5 billion and EUR7 billion. Free cash flow before mergers and acquisitions and customer financing--a closely watched metric by analysts and investors--is projected at around EUR4 billion.


Write to Mauro Orru at mauro.orru@wsj.com


(END) Dow Jones Newswires

02-15-24 0405ET