Aircraft manufacturer Airbus reported a drop in 2016 profits, mainly because of a charge on the A400M military plane.
Its net income fell by 63% to 995m euros (£838m), although revenue went up 3% to 66.5bn euros (£56bn).
The results are the first since Airbus started simplifying the company by mixing its European business with the parent company, previously called EADS.
Chief executive Tom Enders said: “We’ve delivered on the commitments we gave a year ago.”
He added: “We achieved our guidance and objectives, with one exception, the A400M, where we had to take another significant charge totalling 2.2bn euros (£1.85bn) in 2016.
The A400M has suffered a number for setbacks over the years.
Earlier this month, one A400M broke down on the ground while carrying German Defence Minister Ursula von der Leyen.
Another crashed on a test flight in Spain in 2015, leading to the deaths of the four crew members.
“De-risking the programme and strengthening programme execution are our top priorities for this aircraft in 2017,” Mr Enders said.
A late surge in deliveries of civil planes boosted overall profits at Airbus – analysts had been expecting a 7% fall.
The company said its helicopter division had performed well “despite a difficult market environment”.
In 2017 it expects the world economy and air traffic to grow in line with current independent forecasts, assuming there are no major disruptions.
Source: BBC
