Oct 28 (Reuters) – Airbus maintained its full-year forecasts and production plans on Wednesday after reporting mixed third-quarter earnings, leaving investors focused on whether it can hit its annual aircraft-delivery target. The world’s largest planemaker stuck to its target of delivering around 870 aircraft this year, which would be its highest tally ever, and left production goals unchanged. It will need a record fourth quarter to reach that mark. Airbus said adjusted operating profit reached €1.77 billion ($2 billion) in the three months to end-September, broadly matching the analysts’ estimate in a poll compiled by the company. Revenue fell 2% to €17.47 billion, below the estimate of €17.91 billion. Airbus traditionally delivers more aircraft in the final months of the year, but has previously been forced to cut delivery targets late in the year as engine shortages and other supply-chain constraints disrupted production. Those pressures have recently begun to ease. “Against a complex geopolitical and operating environment, we are focused on delivery while maintaining a steadfast focus on quality. Our plan is clear, and our teams are onboard to meet our objectives,” CEO Guillaume Faury said in a statement.
Free cash flow before customer financing since January was a negative €1.27 billion, reflecting higher inventories as Airbus prepared for a stronger delivery performance later in the year and ramped up production for year-end deliveries.($1 = 0.8993 euros)
(Reporting by Joanna Plucinska in London, Gianluca Lo Nostro in Gdansk, Florence Loève in Paris; Editing by Matt Scuffham)
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