Financial Statements 2023

2. Notes to the IFRS Consolidated Financial Statements 2.7 Capital Structure and Financial Instruments

The following table sets out the notional amount of foreign exchange hedges in place as of 31 December 2023 relating to the commercial activities of Airbus, and the average euro converted rates applicable to corresponding EBIT.

(In $ million)

2024

2025

2026

2027

2028+

Total

Total hedges

21,548

16,594

13,303

9,701

5,949

67,097

Forward rates

€/US$

1.21

1.21

1.25

1.30

1.27

1.24

In 2023 new hedge contracts of US$12.2 billion (2022: US$7.5 billion) were added at an average rate of 1.11 US$/€(2022: 1.12 US$/€). As of 31 December 2023, the total hedge portfolio with maturities up to 2029 amounts to US$67.1 billion (2022: US$76.4 billion) and covers a significant portion of the foreign exchange exposure expected over the hedging horizon. The average US$/€ hedge rate of the US$/€ hedge portfolio until 2029 amounts to 1.24 US$/€(2022: 1.24 US$/€).

(In £ million)

2024

2025

2026

2027

2028+

Total

Total hedges

1,020

794

701

475

414

3,405

Forward rates

€/£

0.88

0.90

0.91

0.92

0.93

0.90

Since 2021, €/£ hedges were implemented in order to cover the GBP exposure of the Company. The notional amounts of interest rate contracts are as follows:

Remaining period

(In € million)

1 year

2 years 3 years 4 years 5 years 6 years 7 years > 7 years

Total

31 December 2023

Interest rate contracts

823

561

1,355

1,357

611

500

1,250

3,579

10,036

31 December 2022

Interest rate contracts

0

823

561

1,355

1,406

611

500

4,150

9,406

2

Please also refer to “– Note 36.3: Financing Liabilities”. The notional amounts of commodity contracts are as follows:

Remaining period

(In € million)

1 year

2 years

3 years

4 years

> 4 years

Total

122

74

31

0

0

31 December 2023

228

31 December 2022

13

4

0

0

0

17

The notional amounts of equity swaps are as follows:

Remaining period

(In € million)

1 year

2 years

3 years

4 years

> 4 years

Total

41

34

0

0

0

31 December 2023

75

31 December 2022

17

22

14

0

0

53

85

Airbus

Financial Statements 2023