Overall, Airbus’s publication was a bit disappointing, with profitability coming in well below expectations on the back of slipping deliveries, higher fixed cost absorption, and one-off charges. However, cash consumption has been limited and signs of improvement for the second half of the year should eclipsed the Q2 EBIT miss. No quantitative guidance has been provided at this stage, given the very limited visibility. We maintain our current recommendation.
30 Jul 2020
Q2 20: sharp COVID-19 impact, but limited cash-burn
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Q2 20: sharp COVID-19 impact, but limited cash-burn
Airbus SE (AIR:WBO) | 0 0 2.7% | Mkt Cap: 73,784m
- Published:
30 Jul 2020 -
Author:
Hugo Paternoster -
Pages:
3
Overall, Airbus’s publication was a bit disappointing, with profitability coming in well below expectations on the back of slipping deliveries, higher fixed cost absorption, and one-off charges. However, cash consumption has been limited and signs of improvement for the second half of the year should eclipsed the Q2 EBIT miss. No quantitative guidance has been provided at this stage, given the very limited visibility. We maintain our current recommendation.