AIRBUS - 2019 Universal Registration Document

First page Table of contents Next page Last page

Risk Factors	7
1. Financial Market Risks	8
2. Business-Related Risks	12
3. Legal Risks	18
4. Environment, Human Rights, Health and Safety Risks	21
1. Information on the Company’s Activities	23
1.1 Presentation of the Company	24
1.1.1 Overview	24
1.1.2 Airbus (Commercial Aircraft)	29
1.1.3 Helicopters	38
1.1.4 Defence and Space	41
1.1.5 Investments	47
1.1.6 Insurance	47
1.1.7 Legal and Arbitration Proceedings	47
1.2 Non-Financial Information	50
1.2.1 The Company’s Approach to Responsibility & Sustainability	50
1.2.2 Responsible Company	53
1.2.3 Responsible Business	62
1.2.4 Responsible Employer	68
1.3 Recent Developments	76
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	79
2.1 Operating and Financial Review	80
2.1.1 Overview	81
2.1.2 Significant Accounting Considerations, Policies and Estimates	83
2.1.3 Performance Measures	84
2.1.4 Results of Operations	89
2.1.5 Changes in Total Equity (Including Non-Controlling Interests)	93
2.1.6 Liquidity and Capital Resources	94
2.1.7 Hedging Activities	98
2.2 Financial Statements	98
2.3 Statutory Auditor Fees	98
2.4 Information Regarding the Statutory Auditors	99
3. General Description of the Companyand its Share Capital	101
3.1 General Description of the Company	102
3.1.1 Commercial and Corporate Names, Seat and Registered Office	102
3.1.2 Legal Form	102
3.1.3 Governing Laws and Disclosures	102
3.1.4 Date of Incorporation and Duration of the Company	103
3.1.5 Objects of the Company	104
3.1.6 Commercial and Companies Registry	104
3.1.7 Inspection of Corporate Documents	104
3.1.8 Financial Year	104
3.1.9 Allocation and Distribution of Income	104
3.1.10 General Meetings	105
3.1.11 Disclosure of Holdings	106
3.1.12 Mandatory Disposal	107
3.1.13 Mandatory Offers	108
3.2 General Description of the Share Capital	109
3.2.1 Issued Share Capital	109
3.2.2 Authorised Share Capital	109
3.2.3 Modification of Share Capital or Rights Attached to the Shares	109
3.2.4 Securities Granting Access to the Company’s Share Capital	110
3.2.5 Changes in the Issued Share Capital	111
3.3 Shareholdings and Voting Rights	112
3.3.1 Shareholding Structure at the End of 2019	112
3.3.2 Relationships with Principal Shareholders	113
3.3.3 Form of Shares	115
3.3.4 Changes in the Shareholding of the Company	116
3.3.5 Persons Exercising Control over the Company	116
3.3.6 Simplified Group Structure Chart	116
3.3.7 Purchase by the Company of its Own Shares	118
3.4 Dividends	120
3.4.1 Dividends and Cash Distributions Paid	120
3.4.2 Dividend Policy of the Company	120
3.4.3 Unclaimed Dividends	120
3.4.4 Taxation	120
4. Corporate Governance	123
4.1 Management and Control	124
4.1.1 Corporate Governance Arrangements	124
4.1.2 Dutch Corporate Governance Code, “Comply or Explain”	146
4.1.3 Enterprise Risk Management System	147
4.1.4 Internal Audit	149
4.2 Interests of Directors and Principal Executive Officers	150
4.2.1 Remuneration Policy	150
4.2.2 Long-Term Incentives Granted to the Chief Executive Officer	162
4.2.3 Related Party Transactions	163
4.3 Employee Success Sharing and Incentive Plans	163
4.3.1 Employee Success Sharing and Incentive Agreements	163
4.3.2 Employee Share Ownership Plans	163
4.3.3 Long-Term Incentive Plans	165
5. General Information	171
5.1 Entity Responsible for the Universal Registration Document	172
5.2 Statement of the Entity Responsible for the Universal Registration Document	172
5.3 Information Policy	172
5.4 Undertakings of the Company regarding Information	173
5.5 Significant Changes	173
5.6 Statement on Approval	173

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