European aerospace corporation Airbus SE’s net profit rose 3.4 times to €1.22 billion in the first quarter of 2022 from €362 million in the same period a year earlier. Earnings per share rose to €1.55 from €0.46.

Airbus said in a press release that earnings excluding interest and tax payments (EBIT) rose 3.1 times to €1.429 billion from €462 million a year earlier, while adjusted EBIT, which Airbus considers the most significant metric, increased 1.8 times to €1.26 billion from €694 million.

International sanctions against Russia, Belarus and a number of Russian companies and individuals had a negative impact on Airbus’ operations, reducing its EBIT in the first quarter by €200 million, the statement said.

Airbus’ quarterly revenue rose to 12 billion euros from 10.46 billion euros a year earlier.

The consensus analysts’ forecast, compiled by Airbus itself, was 460 million euros for net income, 719 million euros for adjusted EBIT and 12.05 billion euros for revenue.

The company increased commercial airplane deliveries last quarter to 142 units, up from 125 units a year earlier.

“Our outlook for 2022 remains unchanged, even though the risk profile for the remainder of the year has become more severe given the challenging geopolitical and economic environment,” Airbus CEO Guillaume Faury said.

The company expects demand for commercial airplanes, and in particular the A320 family of aircraft, to continue to grow beyond 2022. In this regard, Airbus intends to increase production of A320 aircraft to 75 units per month by 2025.

According to the company’s forecast, commercial aircraft deliveries will reach 720 units this year and adjusted EBIT will reach €5.5 billion.

Airbus shares fell 3.7% in trading on Wednesday. The report was published after the French market closed.