Airbus - 2022 Universal Registration Document
4. Corporate Governance / 4.2 Interests of Directors and Principal Executive Officers
Performance Achievement – Common Collective Component According to the policy applicable for the financial year 2022, the Common Collective Component for the Company consolidated achievement have been assessed at 150% by the RNGC and the Board of Directors in February 2023 against the target letters validated at the beginning of 2022 and that include detailed vesting scales for each criteria (1) . It is based on an achievement of 121% of target EBIT, 161% of target Free Cash Flow, and 186% of target sustainability (which is based on achievement of 171% of target reduction of CO 2 emissions and 200% of target reduction of FR1). These criteria and their assessment apply to all executives having a Common Collective Component in their variable remuneration and since 2022 it has been extended to all Senior Managers. Therefore, circa 4,500 employees receive a collective bonus based on the achievements mentioned above.
CO2 10% FR1 10% EBIT 40% FCF 40%
121%
Financial 80%
161%
= 150%
171%
Sustainability 20%
04
200%
Minimum Achievement 0%
Maximum Achievement 200%
High level of achievement for EBIT and Free Cash Flow was driven by Airbus Commercial and Airbus Helicopters partially offset by Airbus Defence & Space. Normalisations were made to exclude exceptional financial impacts such as currency exchange differences. Sustainability targets are measured by two criteria: the rolling lost time injury frequency rate (“ FR1 ”) which is the monthly number of lost time injuries per million worked hours averaged over 12 months and the reduction in CO 2 emissions (“ CO 2 e ”), each weighted for 10% of the Common Collective Performance. – In 2022, the rolling FR1 decreased by more than 30% in Airbus Commercial and by more than 20% in both Airbus Helicopters and Airbus Defence and Space, leading to a consolidated achievement of 200%. For further details, see section 1.2.9 Health and Safety. – In 2022, the CO 2 e decreased by 8.5% (reduction of circa 63ktons), which is above the targeted reduction of 5%, leading to an achievement of 171%. For further details, “– Information on the Company’s Activities – 1.2.2 Climate Change”. For 2023, the Board of Directors decided to maintain the sustainability component as follows: FR1 for 50% and CO 2 avoidance for 50%. The targets for 2023 are: – a reduction of the rolling FR1 by 15% in Airbus Commercial and Airbus Helicopters (the rolling FR1 in these two Divisions at the end of 2022 being still above 1) and by 10% in Airbus Defence and Space (the rolling FR1 for this Division at the end of 2022 being below 1) versus the actual 2022 rolling FR1; – annual targets are set in line with the Company’s 2030 roadmap; they refer to a material sub-scope of its operations on which the Company can have a more direct control and influence. The CO 2 e for 2023 was set in absolute value at 687ktons, which represents a reduction of -0.9% vs. 2022 for a scope extended to another four sites. For further details, “– Information on the Company’s Activities – 1.2.2 Climate Change”.
(1) While the Company is paying all due attention to investors’ feedback, for sensitivity reasons specific information on vesting scale (threshold, target, maximum) is not disclosed.
239
Airbus / Universal Registration Document 2022
Made with FlippingBook Digital Proposal Maker