Financial Statements 2021

4. Notes to the IFRS Company Financial Statements /

4.2 Company Performance

6.

Total Operating Result

2021

Notes

2020

(In € million)

Operating income

53

3,757

53

3,757

Corporate services rendered to Airbus companies

(113)

(159)

Operating expenses

(50)

(50)

Service fees charged by Airbus companies

(63)

(109)

Administrative expenses

28

42

Income from investments

17

42

Dividends received from Airbus companies

Gain on disposal of investments

11

0

9

(21)

(187)

Expense from investments

(21)

(187)

Impairment

9

Total operating result

(53)

3,454

Corporate services rendered to Airbus companies decreased by €3,704 million to €53 million (2020: €3,757 million), mainly due to the agreement in 2020 with Airbus companies regarding the recharge of the penalties due to the French, UK and US authorities.

7.

Total Financial Result

2021

Notes

2020

(In € million)

Interest result

(94)

(48)

28

53

Interest income from securities measured at fair value through OCI

(20)

3

Interest income (expenses) from securities measured at fair value through P&L

55

86

Interest income on financial assets measured at amortised cost

(157)

(190)

Interest expense on financial liabilities measured at amortised cost

32

(249)

Other financial result

Option liability exchangeable bond

0

77

57

(174)

Change in fair value measurement of financial assets

9

79

(224)

Impairment and Expected Credit Loss

(104)

72

Other (1)

Total financial result

(62)

(297)

(1) Other includes various amounts such as foreign exchange result and bank fees.

The Company is acting as a financial market agent on behalf of its subsidiaries, therefore the fair value changes of derivatives are reported on a net basis. In November 2019, Airbus SE made further capital contribution and loan into Proj BV. Based on the latest developments, a re-assessment of the Proj BV financial assets was performed in December 2020 leading to a decrease in the fair value of the

equity investment by €187 million recorded through Profit and Loss, and an impairment of the loan by €127 million recorded through financial result. In February 2021, a debt forgiveness has been signed with Proj BV and a loss of €164 million has been recorded through Financial Result. The impairment of the loan has been released for €158 million.

94

Airbus / Financial Statements 2021