Risk Factors | 7 |
1. Financial Market Risks | 8 |
2. Business-Related Risks | 12 |
3. Legal Risks | 20 |
4. Environment, Human Rights, Health & Safety Risks | 23 |
1. Information on the Company’s Activities | 29 |
1.1 Presentation of the Company | 30 |
1.1.1 Overview | 30 |
1.1.2 Airbus (Commercial Aircraft) | 35 |
1.1.3 Helicopters | 44 |
1.1.4 Defence and Space | 50 |
1.1.5 Investments | 57 |
1.1.6 Insurance | 58 |
1.1.7 Legal and Arbitration Proceedings | 58 |
1.2 Non-Financial Information | 61 |
1.2.1 The Company’s Approach to Sustainability | 61 |
1.2.2 Climate Change | 68 |
1.2.3 Pollution | 86 |
1.2.4 Materials and Circularity | 88 |
1.2.5 Water | 90 |
1.2.6 Biodiversity | 92 |
1.2.7 Aviation and Product Safety | 93 |
1.2.8 Cyber Security | 95 |
1.2.9 Health and Safety | 97 |
1.2.10 Human Rights | 102 |
1.2.11 Inclusion and Diversity | 107 |
1.2.12 Social Dialogue | 109 |
1.2.13 People | 111 |
1.2.14 Business Integrity | 115 |
1.2.15 Responsible Supply Chain | 118 |
1.2.16 Community Impact | 126 |
1.2.17 ESG Data Board | 128 |
1.2.18 TCFD Correspondence Table | 137 |
1.2.19 EU Taxonomy | 138 |
1.2.20 GRI Index | 144 |
1.2.21 SASB Correspondence Table | 148 |
1.3 Other Corporate Activities | 149 |
1.4 Recent Developments | 157 |
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 159 |
2.1 Operating and Financial Review | 160 |
2.1.1 Overview | 161 |
2.1.2 Significant Accounting Considerations, Policies and Estimates | 164 |
2.1.3 Performance Measures | 165 |
2.1.4 Results of Operations | 169 |
2.1.5 Changes in Total Equity (Including Non-Controlling Interests) | 173 |
2.1.6 Liquidity and Capital Resources | 174 |
2.2 Financial Statements | 178 |
2.3 Statutory Auditor Fees | 178 |
2.4 Information Regarding the Statutory Auditors | 178 |
3. General Description of the Company and its Share Capital | 181 |
3.1 General Description of the Company | 182 |
3.1.1 Commercial and Corporate Names, Seat and Registered Office | 182 |
3.1.2 Legal Form | 182 |
3.1.3 Governing Laws and Disclosures | 182 |
3.1.4 Date of Incorporation and Duration of the Company | 183 |
3.1.5 Objects of the Company | 184 |
3.1.6 Commercial and Companies Registry | 184 |
3.1.7 Inspection of Corporate Documents | 184 |
3.1.8 Financial Year | 184 |
3.1.9 Allocation and Distribution of Income | 184 |
3.1.10 General Meetings | 185 |
3.1.11 Disclosure of Holdings | 186 |
3.1.12 Mandatory Disposal | 187 |
3.1.13 Mandatory Offers | 188 |
3.2 General Description of the Share Capital | 189 |
3.2.1 Issued Share Capital | 189 |
3.2.2 Authorised Share Capital | 189 |
3.2.3 Modification of Share Capital or Rights Attached to the Shares | 189 |
3.2.4 Securities Granting Access to the Company’s Share Capital | 190 |
3.2.5 Changes in the Issued Share Capital | 190 |
3.3 Shareholdings and Voting Rights | 191 |
3.3.1 Shareholding Structure at the End of 2022 | 191 |
3.3.2 Relationships with Principal Shareholders | 192 |
3.3.3 Form of Shares | 195 |
3.3.4 Changes in the Shareholding of the Company | 195 |
3.3.5 Persons Exercising Control over the Company | 195 |
3.3.6 Simplified Group Structure Chart | 195 |
3.3.7 Purchase by the Company of its Own Shares | 197 |
3.4 Dividends | 199 |
3.4.1 Dividends and Cash Distributions Paid | 199 |
3.4.2 Dividend Policy of the Company | 199 |
3.4.3 Unclaimed Dividends | 199 |
3.4.4 Taxation | 199 |
4. Corporate Governance | 203 |
4.1 Management and Control | 204 |
4.1.1 Corporate Governance Arrangements | 204 |
4.1.2 Dutch Corporate Governance Code, “Comply or Explain” | 228 |
4.1.3 Enterprise Risk Management System | 229 |
4.1.4 Internal Audit | 231 |
4.2 Interests of Directors and Principal Executive Officers | 232 |
4.2.1 Remuneration Policy | 232 |
4.2.2 Long-Term Incentives Granted to the Chief Executive Officer | 247 |
4.2.3 Related Party Transactions | 247 |
4.3 Employee Success Sharing and Incentive Plans | 248 |
4.3.1 Employee Success Sharing and Incentive Agreements | 248 |
4.3.2 Employee Share Ownership Plans | 248 |
4.3.3 Long-Term Incentive Plans | 249 |
5. General Information | 255 |
5.1 Entity Responsible for the Universal Registration Document | 256 |
5.2 Statement of the Entity Responsible for the Universal Registration Document | 256 |
5.3 Information Policy | 256 |
5.4 Undertakings of the Company Regarding Information | 257 |
5.5 Significant Changes | 257 |
5.6 Statement on Approval | 257 |