Airbus // Universal Registration Document 2023

2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 2.1 Operating and Financial Review

2.1.3 Performance Measures

2.1.3.1 Business segments Airbus

2023

2022

2021

(In €million)

Revenue

47,763

41,428

36,164

EBIT

3,610

4,800

4,175

in % of revenue

7.6%

11.6%

11.5%

Airbus Helicopters

2023

2022

2021

(In €million)

Revenue

7,337

7,048

6,509

EBIT

717

639

535

in % of revenue

9.8%

9.1%

8.2%

Airbus Defence and Space

2023

2022

2021

(In €million)

Revenue

11,495

11,259

10,186

EBIT

220

(118)

568

in % of revenue

1.9%

(1.0%)

5.6%

2.1.3.2 Order Intake and Order Backlog Year-end order backlog consists of contracts signed up to that date. Only firm orders are included in calculating the order backlog for commercial aircraft and civil helicopters. A firm order is defined as one for which the Company receives a down payment on a definitive contract. Defence-related orders are included in the backlog upon enforcement of the signed contract. Commitments under defence “umbrella” or “framework” agreements by governmental customers are not included in backlog until the Company is officially notified. The total order backlog and order intake represent the aggregate amount of the net transaction price allocated to the unsatisfied and partially unsatisfied performance obligations to

the Company’s customers. Backlog commitments are relative to the Company’s enforceable contracts with its customers where it is probable that the consideration will be collected. Contractual rebates, engine concessions and variable considerations are taken into account for measurement. Contracts stipulated in a currency different from the presentation currency are translated to euro using the spot rate as of 31 December 2023, 2022 and 2021, respectively. Adjustments to the value of the order backlog could result from changes in the transaction price. Options are not considered in the valuation of order intake and order backlog. In 2024, approximately 9% of the Airbus backlog in units is expected to be converted into revenues.

ORDER INTAKE

2023

2022

2021

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

(In € billion) (In percentage) (1)

Airbus

162.6

87.0% 59.7

72.2% 40.0

64.3%

Airbus Helicopters

8.6

4.6%

9.3

11.2%

8.6

13.7%

Airbus Defence and Space

15.7

8.4% 13.7

16.6% 13.7

22.0%

Subtotal segmental order intake

186.9

100% 82.7

100% 62.2

100%

Eliminations

(0.4)

(0.2)

(0.2)

Total

186.5

82.5

62.0

(1) Before “Eliminations”.

174 Airbus Annual Report

Universal Registration Document 2023