Airbus // Universal Registration Document 2021

2. Management’s Discussion and Analysis of Financial Condition and Results of Operations /

2.1 Operating and Financial Review

2.1.4 Results of Operations

The following table summarises the IFRS Company’s Consolidated Income Statements for the past three years:

2

2021

2020

2019

(In € million)

Revenue

52,149

49,912

70,478

Cost of sales

(42,518)

(44,250)

(59,973) 10,505 (6,125) (3,358)

Gross margin

9,631

5,662

Selling and administrative expenses Research and development expenses

(2,052) (2,746)

(2,140) (2,858)

Other income

594

132

370

Other expenses

(201)

(1,458)

(356)

Share of profit from investments accounted for under the equity method and other income from investments

116

152

303

Profit (Loss) before financial result and income taxes

5,342

(510)

1,339

Interest result

(246)

(271)

(111)

Other financial result

(69)

(349)

(164)

Income taxes

(853)

(39)

(2,389)

Profit (Loss) for the period

4,174

(1,169)

(1,325)

Attributable to Equity owners of the parent (Net income)

4,213

(1,133)

(1,362)

Non-controlling interests

(39)

(36)

37

Earnings per share

€

€

€

Basic

5.36 5.36

(1.45) (1.45)

(1.75) (1.75)

Diluted

2.1.4.1 Revenues The following table presents a breakdown of the Company’s revenues by Business segment for the past three years:

2021

2020

2019

(In € million)

Airbus

36,164

34,250

54,775

Airbus Helicopters

6,509

6,251

6,007

Airbus Defence and Space

10,186

10,446 50,947

10,907 71,689

Subtotal segmental revenue

52,859

Eliminations

(710)

(1,035)

(1,211)

Total

52,149

49,912

70,478

For 2020, revenues decreased by 29.2%, from €70.5 billion for 2019 to €49.9 billion for 2020, reflecting mainly lower commercial aircraft deliveries at Airbus.

Revenues increased by 4.5%, from € 49.9 billion for 2020 to €52.1 billion for 2021. The increase is mainly driven by Airbus, reflecting higher aircraft deliveries partly offset by an unfavourable foreign exchange impact.

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Airbus / Registration Document 2021