Financial Statements 2023

4. Notes to the IFRS Company Financial Statements 4.3 Operational Assets and Liabilities

The determination of the investment’s value in use is based on calculations using pre ‑ tax cash flow projections. The discounted cash flow method is used to determine the recoverable amount of a CGU to which its investments in subsidiaries and associated companies belong. Refer to “– Note 19: Intangible assets” of the Consolidated Financial Statements for more details on key assumptions used. If the recoverable amount of an investment is estimated to be less than its carrying amount, the carrying amount of the investment is reduced to its recoverable amount. Any impairment loss is recognised immediately in the Income Statement. In January 2023, Airbus SE made a capital contribution of €160 million in Aerore S.A. On 9 October 2023, Airbus SE acquired the remaining shares of Airbus Defence and Space GmbH for an amount of €572 million. In December 2023 Airbus Helicopter SAS entered into the capital of Airbus Defence and Space GmbH in the frame of internal restructuring. The company remained indirectly fully owned by Airbus SE.

Impairment losses recognised in prior periods shall be reversed only if there has been a change in the estimates or external market information used to determine the investment’s recoverable amount since the last impairment loss was recognised. The recoverable amount shall not exceed the carrying amount that would have been determined had no impairment loss been recognised in prior years. The annual impairment test performed in 2023 led to an impairment charge of €19 million (2022: €0 million).

Change of Investments in Subsidiaries and Associates

During the last quarter of 2023, Airbus Defence and Space GmbH distributed its free capital reserve to Airbus SE for an amount of €1,200 million. Airbus SE increased its contribution to Skytra for an amount of €19 million fully impaired. During the year 2023, Airbus SE made other contributions to participations and subsidiaries for a total amount of €12 million.

Information on principal investments of the Company:

2023

2022

%

Company

Head office

100.00 100.00

Aero Ré S.A.

Bertrange (Luxembourg)

61.47

88.71

Airbus Defence and Space GmbH

Taufkirchen (Germany)

100.00 100.00

Airbus Defence and Space Limited

Stevenage (UK)

100.00 100.00

Airbus Defence and Space Netherlands B.V.

Leiden (Netherlands)

100.00 100.00

Airbus Defence and Space S.A.

Madrid (Spain)

100.00 100.00

Airbus Bank GmbH

Munich (Germany)

94.73

94.73

Airbus S.A.S.

Toulouse (France)

10.24

9.90

Dassault Aviation S.A.

Paris (France)

5.33

5.33

Premium Aerotec GmbH

Augsburg (Germany)

8.33

8.33

MIRIS

Brussels (Belgium)

Percentages represent share held directly by Airbus SE. (1)

4

127

Airbus

Financial Statements 2023