Shares in Europe's largest aerospace group Airbus climbed sharply on Thursday after a strong set of underlying results, showing rising revenues, profits and cash generation.
Investors shrugged off a €1.3bn charge related to the company's A400M military transport programme, which brought total charges on the project to more than €8bn.
Full-year financial highlights
- Full-year revenues rose slightly to €66.8bn from €66.6bn in 2016
- Adjusted earnings before interest and tax rose to €4.253bn from €3.955bn in 2016
- Reported earnings before interest and tax rose to €3.421bn from €2.258bn in 2016
- Net income increased to €2.873bn from €995m in 2016
- Free cash flow rose to €2.949 from €1.408bn
The company said it expected the world economy and air traffic to grow in 2018 and forecast the delivery of around 800 commercial aircraft that would generate a 20% increase in adjusted earnings.
Chief executive Tom Enders (left) said: "Overall, the strength of our 2017 achievements is reflected in our dividend proposal which is up 11% against last year.
"This also endorses our earnings and cash growth story for the future.”
Shares in Airbus were biggest climbers on the domestic CAC 40 index in France, and the EuroStoxx 50 index of pan-European shares, jumping 9.48% to €92.14.
Picture courtesy of Airbus website