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Airbus said Thursday that it swung to a loss in 2019 and set new targets for 2020.
Airbus AIR, -1.01% said its full-year net loss was 1.36 billion euros ($1.48 billion) compared with a net profit of EUR3.05 billion in 2018.
The company was hit by EUR3.6 billion in penalties related to a corruption probe settlement. The loss included “a negative impact from the financial result, mainly driven by the revaluation of financial instruments,” Airbus said.
Sales rose 11% at EUR70.48 billion.
Airbus’s more closely watched adjusted earnings before interest and taxes rose 19% to EUR6.95 billion from EUR5.84 billion. For its fourth quarter, adjusted EBIT came in at EUR2.81 billion.
The Toulouse, France-based company said deliveries would rise again in 2020, with a guidance of roughly 880 planes handed over this year after delivering 863 in 2019. Airbus overtook Boeing Co. last year as the world’s largest aircraft manufacturer.
The aerospace giant expects an adjusted EBIT of roughly EUR7.5 billion this year.
Airbus declared a dividend of EUR1.80 a share for 2019.
