AIRBUS - 2020 Financial Statement

4. Notes to the IFRS Company Financial Statements /

4.2 Company Performance

7.

Total Operating Result

2020

2019

(In € million)

Operating income

3,757

159

3,757

159

Corporate services rendered to Airbus companies

(159)

(3,844)

Operating expenses

(50)

(45)

Service fees charged by Airbus companies

(109)

(3,799)

Administrative expenses

(145)

34

Income from investments

Dividends received from Airbus companies

42

34

(187)

0

Impairment

0

0

Expense from investments

0

1

Gain (loss) on disposal of investments

Total operating result

3,454

(3,650)

Administrative expenses decreased by € -3,690 million to €109 million (2019: €3,799 million), mainly due to the final agreements reached with the French Parquet National Financier (PNF), the U.K. Serious Fraud Office (SFO) and the US Department of State (DoS). Corporate services rendered to Airbus companies increased by €3,598 million to €3,757 million (2019: €159 million), mainly due to the agreement with Airbus companies regarding the Fine recharge.

8.

Total Financial Result

2020

2019

(In € million)

Interest result

(48)

26

53

87

Interest income from securities measured at fair value through OCI

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

3

26

86

89

Interest income on financial assets measured at amortised cost

(190)

(176)

Interest expense on financial liabilities measured at amortised cost

(249)

(36)

Other financial result

77

31

Option liability exchangeable bond

(174)

(79)

Change in fair value measurement of financial assets

(224)

(2)

Impairment and Expected Credit Loss

Other

72

14

Total financial result

(297)

(10)

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.

96

Airbus / Financial Statements 2020