Financial Statements 2023

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Our understanding of the business The Company is globally active in developing, producing and delivering aeronautics and aerospace products and related services. The Company is structured in segments, and we tailored our group audit approach accordingly. We paid specific attention in our audit to a number of areas driven by the operations of the group and our risk assessment. We refer to the key audit matters for those areas. We determined materiality and identified and assessed the risks of material misstatement of the financial statements, whether due to fraud or error, in order to design audit procedures responsive to those risks and to obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Materiality

Materiality

€292 million (2022: €281 million)

Benchmark applied

5% of EBIT Adjusted (2022: 5% of EBIT Adjusted)

Explanation

We consider EBIT Adjusted as the most appropriate benchmark as it best aligns with the financial performance expectations of those charged with governance at Airbus SE and in our assessment of users of the Company’s financial statements.

We have also taken into account misstatements and/or possible misstatements that in our opinion are material for the users of the financial statements for qualitative reasons.

We agreed with the board of directors that any misstatements in excess of €15 million (5% of materiality mentioned above), that are identified during the audit, would be reported to them, as well as any smaller misstatements that in our view must be reported on qualitative grounds. Scope of the group audit Airbus SE is at the head of a group of entities. The financial information of the group is included in the consolidated financial statements. Because we are ultimately responsible for our opinion, we are also responsible for directing, supervising and performing the group audit. In this respect we have determined the nature and extent of the audit procedures to be carried out for group entities. Decisive were the size and/or the risk profile of the group entities or operations. On this basis, we selected group entities for which an audit had to be carried out on the complete set of financial information or on specific items. The entities are grouped by the Company into three business segments (divisions): Airbus, Airbus Helicopters and Airbus Defence and Space. The audit of the three segments is performed jointly by EY and KPMG. The audits of the entities in scope are performed in the countries these entities are located in, by either EY or KPMG network firms or by both.

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Airbus

Financial Statements 2023