Financial Statements 2021

4. Notes to the IFRS Company Financial Statements /

A summary of the VaR position of the Company’s financial instruments portfolio at 31 December 2021 and 31 December 2020 is as follows:

Total VaR

Equity price VaR

Currency VaR

Interest rate VaR

(In € million)

31 December 2021 Foreign exchange hedges

8

0

8

1

Financing liabilities, financial assets (including cash, cash equivalents, securities and related hedges)

67

58

4

51

Equity swaps

5

5

0

0

Diversification effect

(12)

(2)

(8)

(1)

All financial instruments

68

61

4

51

31 December 2020 Foreign exchange hedges

20

0

20

0

Financing liabilities, financial assets (including cash, cash equivalents, securities and related hedges)

88

63

17

43

Equity swaps

4

4

0

0

Diversification effect

(25)

0

(35)

0

All financial instruments

87

67

2

43

The decrease in the total VaR of €19 million (2020: €87 million) is mainly attributable to the fall of foreign exchange treasury swap at Airbus SE level.The derivative instruments entered into with external counterparties are passed on a 1:1 basis to Airbus entities. As a result, the respective market risks of theexternal derivative instruments are offset by corresponding opposite market risks of intragroup transactions. Liquidity Risk The Company’s policy is to maintain sufficient cash and cash equivalents at any time to meet its present and future commitments as they fall due. It manages its liquidity by holding adequate volumes of liquid assets and maintains a committed revolving credit facility (€6.0 billion as of 31 December 2021), the maturity of which has been extended to 21 October 2024, in addition to the cash inflow generated by its operating business. For information on how the Company monitors and manages liquidity risk, please refer to “– Note 37.1: Financial Risk Management” of the Consolidated Financial Statements. The contractual maturities of the Company financial liabilities, based on undiscounted cash flows and including interest payments, if applicable, are as follows:

Carrying amount

Contractual cash flows < 1 year

1 year- 2 years

2 years- 3 years

3 years- 4 years

4 years- 5 years

More than 5 years

(In € million)

31 December 2021 Non-derivative financial liabilities

(10,919)

(13,162)

(803)

(211)

(1,211)

(937)

(2,025)

(7,975)

Derivative financial liabilities

(4,818)

(6,260)

(1,938)

(1,678)

(1,244)

(728)

(440)

(232)

Total

(15,737)

(19,422)

(2,741)

(1,889)

(2,455)

(1,665)

(2,465)

(8,207)

31 December 2020 Non-derivative financial liabilities

(12,512)

(14,656)

(1,390)

(230)

(1,045)

(1,208)

(934)

(9,847)

Derivative financial liabilities

(3,166)

(1,869)

(638)

(537)

(605)

(75)

(10)

(4)

Total

(15,678)

(16,525)

(2,028)

(767)

(1,650)

(1,283)

(944)

(9,851)

106

Airbus / Financial Statements 2021