Risk Factors | 7 |
1. Financial Market Risks | 8 |
2. Business-Related Risks | 13 |
3. Legal Risks | 21 |
4. Environment, Human Rights, Health & Safety Risks | 23 |
1. Information on the Company’s Activities | 27 |
1.1 Presentation of the Company | 28 |
1.1.1 Overview | 28 |
1.1.2 Airbus (Commercial Aircraft) | 32 |
1.1.3 Helicopters | 41 |
1.1.4 Defence and Space | 45 |
1.1.5 Investments | 51 |
1.1.6 Insurance | 51 |
1.1.7 Legal and Arbitration Proceedings | 52 |
1.1.8 Research and Technology | 54 |
1.2 Non-Financial Information | 58 |
1.2.1 The Company’s Approach to Sustainability | 58 |
1.2.2 Lead the Journey Towards Clean Aerospace | 63 |
1.2.3 Build Our Business on the Foundation of Safety and Quality | 74 |
1.2.4 Respect Human Rights and Foster Inclusion | 78 |
1.2.5 Exemplify Business Integrity | 86 |
1.2.6 Responsible Supply Chain | 89 |
1.2.7 Community Engagement | 94 |
1.3 Recent Developments | 95 |
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 97 |
2.1 Operating and Financial Review | 98 |
2.1.1 Overview | 99 |
2.1.2 Significant Accounting Considerations, Policies and Estimates | 102 |
2.1.3 Performance Measures | 103 |
2.1.4 Results of Operations | 107 |
2.1.5 Changes in Total Equity (Including Non-Controlling Interests) | 111 |
2.1.6 Liquidity and Capital Resources | 112 |
2.2 Financial Statements | 116 |
2.3 Statutory Auditor Fees | 116 |
2.4 Information Regarding the Statutory Auditors | 116 |
3. General Description of the Company and its Share Capital | 119 |
3.1 General Description of the Company | 120 |
3.1.1 Commercial and Corporate Names, Seat and Registered Office | 120 |
3.1.2 Legal Form | 120 |
3.1.3 Governing Laws and Disclosures | 120 |
3.1.4 Date of Incorporation and Duration of the Company | 121 |
3.1.5 Objects of the Company | 122 |
3.1.6 Commercial and Companies Registry | 122 |
3.1.7 Inspection of Corporate Documents | 122 |
3.1.8 Financial Year | 122 |
3.1.9 Allocation and Distribution of Income | 122 |
3.1.10 General Meetings | 123 |
3.1.11 Disclosure of Holdings | 124 |
3.1.12 Mandatory Disposal | 125 |
3.1.13 Mandatory Offers | 126 |
3.2 General Description of the Share Capital | 127 |
3.2.1 Issued Share Capital | 127 |
3.2.2 Authorised Share Capital | 127 |
3.2.3 Modification of Share Capital or Rights Attached to the Shares | 127 |
3.2.4 Securities Granting Access to the Company’s Share Capital | 128 |
3.2.5 Changes in the Issued Share Capital | 128 |
3.3 Shareholdings and Voting Rights | 129 |
3.3.1 Shareholding Structure at the End of 2020 | 129 |
3.3.2 Relationships with Principal Shareholders | 130 |
3.3.3 Form of Shares | 133 |
3.3.4 Changes in the Shareholding of the Company | 133 |
3.3.5 Persons Exercising Control over the Company | 133 |
3.3.6 Simplified Group Structure Chart | 133 |
3.3.7 Purchase by the Company of its Own Shares | 135 |
3.4 Dividends | 137 |
3.4.1 Dividends and Cash Distributions Paid | 137 |
3.4.2 Dividend Policy of the Company | 137 |
3.4.3 Unclaimed Dividends | 137 |
3.4.4 Taxation | 137 |
4. Corporate Governance | 141 |
4.1 Management and Control | 142 |
4.1.1 Corporate Governance Arrangements | 142 |
4.1.2 Dutch Corporate Governance Code, “Comply or Explain” | 164 |
4.1.3 Enterprise Risk Management System | 165 |
4.1.4 Internal Audit | 167 |
4.2 Interests of Directors and Principal Executive Officers | 168 |
4.2.1 Remuneration Policy | 168 |
4.2.2 Long-Term Incentives Granted to the Chief Executive Officer | 181 |
4.2.3 Related Party Transactions | 182 |
4.3 Employee Success Sharing and Incentive Plans | 182 |
4.3.1 Employee Success Sharing and Incentive Agreements | 182 |
4.3.2 Employee Share Ownership Plans | 182 |
4.3.3 Long-Term Incentive Plans | 183 |
5. General Information | 189 |
5.1 Entity Responsible for the Universal Registration Document | 190 |
5.2 Statement of the Entity Responsible for the Universal Registration Document | 190 |
5.3 Information Policy | 190 |
5.4 Undertakings of the Company regarding Information | 191 |
5.5 Significant Changes | 191 |
5.6 Statement on Approval | 191 |