AIRBUS - 2019 Financial Statements

Notes to the IFRS Company Financial Statements /

4.2 Company Performance

5.

Total Operating Result

2019

2018

(In € million)

Operating income

159

393

159

393

Corporate services rendered to Airbus companies

(3,844)

(270)

Operating expenses

(45)

(119)

Service fees charged by Airbus companies

(3,799)

(151)

Administrative expenses

34

46

Income from investments

Dividends received from Airbus companies

34

46

0

0

Impairment reversal

1

(369)

Expense from investments

1

(369)

Gain (loss) on disposal of investments

Total operating result

(3,650)

(200)

Administrative expenses increased by €3,648 million to €3,799 million (2018: € 151 million), mainly due to the final agreements reached with the French Parquet National Financier (PNF), the U.K. Serious Fraud Office (SFO) and the U.S. Department of State (DoS). For further information, see “– Note 38: Litigation and Claims” of the Consolidated Financial Statements.

6.

Total Financial Result

2019

2018

(In € million)

Interest result (1)

26

38

87

96

Interest income from securities measured at fair value through OCI

26

15

Interest income from securities measured at fair value through P&L

89

122

Interest income on financial assets measured at amortised cost

(176)

(195)

Interest expense on financial liabilities measured at amortised cost

Other financial result

(36)

(33)

31

33

Option liability exchangeable bond

(79)

(44)

Change in fair value measurement of financial assets

12

(22)

Other

Total financial result

(10)

5

4

The Company is acting as a financial market agent on behalf of its subsidiaries, therefore the fair value changes of derivatives are reported on a net basis.

95

Airbus / Financial Statements 2019