Airbus Q1 core operating profit falls 7%, confirms targets

Airbus confirmed its full-year profit guidance on Thursday and said its main commercial jet programs were on track as it posted lower first-quarter operating profit roughly in line with market expectations.

Europe's largest aerospace group said it was pushing ahead with the production ramp-up of its new A350 jet and that its revamped A320neo remained on schedule, while the A380 would break even as planned this year.

Revenue fell 5 percent to 12.078 billion euros ($13.41 billion), due to lower commercial plane deliveries that were partially offset by the impact of a weaker euro. Operating income before one-offs fell 7 percent to 651 million euros.

Airbus A350
Eric Piermont | AFP | Getty Images

Commercial jet deliveries are expected to be "back loaded" towards the later part of the year, especially for the A350 and A380, Airbus Group said in a statement.

Free cashflow swung to a positive 452 million euros from a negative 2.034 billion, swelled by the sale of part of Airbus's stake in Dassault Aviation, Airbus added.

Analysts had on average predicted operating profit of 647 million euros on revenue of 12.6 billion

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