Airbus Annual Report
Overview 2023

Shaping
the futureWe pioneer sustainableaerospace for a safeand united world

In 2023, Airbus focusedon shaping the future
We recorded strong order intake across all our businesses
and delivered on our commitments despite a complex
operating environment. The Company remained dedicatedto achieving the operational and strategic goals that support
our purpose. We further focused on shaping the future bycontinuing our industrial transformation and progressing
with our decarbonisation journey and innovation strategy.

Contents
02
04
06
08
12
13
15
16
17
18
20

2023 at a glance
Chairman’s message
CEO interview
Our purpose in action
Strategy
Sustainability
AirbusAirbus Helicopters
Airbus Defence and Space
CFO interview
Share information

2023 at a glance
See page 02

Chairman’s message
See page 04

CEO interview
See page 06

Our purpose in action
See page 08

Strategy
See page 12

Sustainability
See page 13

Operational review
See page 15

CFO interview
See page 18

Share information
See page 20

Where applicable, ‘Airbus’ refers tocommercial aircraft activities andthe integrated functions while ‘theCompany’ refers to Airbus SE
together with its subsidiaries.
Rounding: Due to rounding,numbers presented may not add up
precisely to the totals provided andpercentages may not preciselyreflect the absolute figures.

Contents

Airbus Annual Report Overview 2023

01

2023 at a glance
The year saw many significant events
across the Company. These included contract
signings and programme milestones as wellas progress on our decarbonisation journey.

Financial

Non-Financial(2)Revenues (€ million)

Scope 1 and 2 CO2 emissions (ktons CO2e)65,446645(2022: 58,763)(Market-based)

EBIT Adjusted (€ million)

Total employee training (millions of hours)

5,838

2.18

(2022: 5,627)(1 Oct. 2022 to 30 Sept. 2023)

EBIT Reported (€ million)

Ethics and Compliance e-learning sessions

4,603

525,280(2022: 5,325)(1 Oct. 2022 to 30 Sept. 2023)

Reported earnings per share(1) (€)

Number of employees

4.80

147,893(2022: 5.40)(End 2022: 134,267)

Order intake (€ million)

Total energy consumption (GWh)

186,4933,646(2022: 82,521)(Excluding electricity generated
by CHP on site for own use)

Major defence contracts signed
A number of significant militaryorders were received during theyear by Airbus Defence and Space.
Among them, Spain ordered
16 Airbus C295s in maritime patroland surveillance configurations
while Germany renewed a support
contract for its A400M fleet. It wasa good year for the A330 MRTT,with a major order from Canada.
Meanwhile, Phase 1B of the Future
Combat Air System was launched,marking a significant stage of thismajor European defence programme.

(1) FY 2023 average number of shares 788,720,779 compared to 787,080,579 in FY 2022.
(2) For further information, see the Non-Financial Information section of the Universal Registration Document 2023.

2023 at a glance

Airbus Annual Report Overview 2023

02

Strong demand for
the H145 helicopter
The medium twin-engine
H145 helicopter
demonstrated strong
momentum in both the civil
and military markets during2023. On the civil side, theFrench Armament General
Directorate (DGA) ordered
42 H145s for emergency
response, rescue missions
and law enforcement.
The military variant,the H145M, received its
largest-ever order of up
to 82 helicopters from theGerman Bundeswehr.

External revenue split
Airbus17%
11%

Airbus Helicopters
Airbus Defence
and Space€ 65.4bn(2022: € 58.8bn)

72%

Order book in value by region
4%7%Progress made on decarbonisation strategy
The Company’s Scope 1, 2 and 3 targets were validated by
the Science Based Targets initiative (SBTi). The ZEROe projectsuccessfully powered-on a 1.2 megawatt hydrogen fuel cell, andBlue Condor, the modified glider at the centre of Airbus UpNext’s
hydrogen-combustion propulsion contrail-studying experiment,
made Airbus’ first ever 100% hydrogen-powered flight. The Company
increased the use of sustainable aviation fuel (SAF) for its own flight
operations during 2023.

A significant year in commercial aircraft
The first Paris Air Show since the COVID-19 pandemic
illustrated Airbus’ successful year in commercial aircraft.
Progress was made with the modernisation and upgradingof the industrial system, including the inauguration of a
new A320 Family final assembly line in Toulouse. In 2023,
a total of 735 commercial aircraft were delivered to
87 customers around the world, while net order intake
increased to 2,094 aircraft.

16%2023 at a glance

Europe8%

Asia Pacific34%€ 554bn(2022: € 449bn)

North America
Middle East
Latin America
Other

31%

Airbus Annual Report Overview 2023

03

The aerospace industry saw robust demand forthe most efficient commercial aircraft, as airlines’
financials generally improved and passenger traffic
increased. Aviation’s vital role in connecting people
and businesses has never been clearer as the global
economy continues to put the pandemic behind it.
Air travel is a necessity in our world, and an aspiration
for billions of people, despite cost of living pressures.

FuturefocusedRené Obermann outlines the Company’s
performance and activities of the Boardof Directors during 2023. He also highlights
some key agenda items of the 2024 AGM.
René Obermann
Chairman of the Board

Dear Shareholders and Stakeholders,
2023 was a year of fragile economic growthagainst a backdrop of instability in some partsof the world. As the Russian war of aggression
in Ukraine continued, a major conflict flared up
in the Middle East as a consequence of terror
attacks on civilians. The events of the year
underscored the need for nations and companies
alike to increase their resilience and prepare forchange, whether it be geopolitical, economic,
societal or technological.

Aviation’s vitalrole in connecting
people and businesses
has never been clearer.”

Defence again demonstrated its crucial purpose,from protecting people and critical assets to
supporting the flow of essential humanitarian aid.
A stronger and technologically even more advanced
defence industry will be essential to increase
Europe’s capability as a reliable partner in NATOin the complex security environment. Cooperation
between countries and companies is key inEurope, perhaps the most promising example
being the Future Combat Air System (FCAS)
project in which Airbus has a key role.

After missing the targeted level in 2022, ourCommercial Aircraft business reported an 11%
rise in deliveries despite a complex operating
environment. In terms of aircraft sales, it enjoyeda stellar year. Helicopters had another successful
year with a solid financial performance and higher
order intake by units. It was a somewhat mixed
year however for Defence and Space, with somemajor contract wins but unfortunately significant
charges had to be taken in the Space business.
The Division is now going through a transformation
programme to improve its efficiency and capabilities
and to better reflect the prevailing market
environment. Overall, the Company ended theyear with revenues of € 65.4 billion and an EBIT
Adjusted of € 5.8 billion.
During 2023, the Board and its Committees
reviewed and monitored a variety of operationaland strategic topics central to the Airbus of today
and tomorrow, with a continued close monitoringof sustainability developments globally and at
Airbus. Another area of focus was supply chain
challenges, particularly those regarding engines,
in the context of increasing commercial aircraft
production rates. There were dedicated sessions
focusing on information technology, including
the burgeoning area of artificial intelligence andbusiness-critical topic of cybersecurity, as wellas enterprise risk management. Board members
were also kept informed about developments
in safety as well as important human resources
topics such as the engagement of employees.

2023 Dividend(1) (€ per share)

1.80
2023 Special dividend(1) (€ per share)

1.00(1) To be proposed to the 2024 AGM.

Chairman’s message

Airbus Annual Report Overview 2023

04

The 2023 results and ourconfidence in the futurefinancial performance underpin
our proposal for a gross dividend
payment of € 1.80 per share.”Board of Directors
As of 1 January 2024

The Board worked closely with management to
optimise the governance of Commercial Aircraft
after navigating a series of major headwinds
in recent years, including the pandemic.
By appointing a dedicated Commercial Aircraft
CEO and corresponding management teamin January 2024, the Company’s single largest
activity is well positioned to deliver on both its
short- and long-term objectives. It also gives
Airbus CEO Guillaume Faury greater bandwidth
to drive the strategic agenda and further theCompany’s ongoing transformation.
As said above, sustainability is and will be acentral topic for the Board overall, and the Ethics,
Compliance and Sustainability Committee inparticular. A dedicated strategy session focusing
on decarbonisation took place, covering areas
such as the roll-out of sustainable aviation fuels
and new technologies to develop even more
efficient aircraft in the future. There was alsoa review of human rights and critical materials
in the supply chain.
As in previous years, Board members welcomed
the opportunity to visit Airbus sites to increase
their knowledge of certain activities and engage
with employees. Highlights included a meetingat an Airbus Atlantic facility in Tunisia, a visit to theGetafe site in Spain and a meeting with the FCAS
team in Manching, Germany. In Toulouse, Board
members were also briefed about progress on the
Digital Design, Manufacturing and Services (DDMS)
programme, which aims to foster innovation, quality
and efficiency, and reduce the time to market for
products. With DDMS, we are creating a virtual
collaboration platform by progressively including
our partners in the supply chain.

In terms of Board governance, according to theprinciple of ‘staggered’ terms under which wereplace or reappoint one-third of the directors
every year, the mandates of Amparo Moraleda,
Victor Chu, Jean-Pierre Clamadieu and myself areeach due for renewal at the 2024 Annual General
Meeting (AGM). In addition, we will propose theappointment of Dr. Feiyu Xu as a non-executive
director, to succeed Ralph D. Crosby, Jr. who will
leave the Board following the AGM after 11 yearsof service. The Company wishes to express its
profound gratitude to Ralph for his valuable
contribution to the Board since his first appointment
in 2013. Thanks to her deep technology knowledge
and leadership presence, Dr. Xu will be able tosupport the Company to strategise the impact of
emerging technologies on its business, which will
be extremely valuable in the years to come.

René Obermann
Chairman of the Boardof Directors, Airbus SE

Guillaume Faury
Chief Executive Officer
Airbus SE

Victor Chu

Jean-Pierre Clamadieu
Chairman of Ethics,
Compliance andSustainability Committee

Ralph D. Crosby, Jr.

Mark Dunkerley

Stephan Gemkow

Catherine Guillouard
Chair of Audit Committee

Amparo Moraleda
Chair of Remuneration,
Nomination and
Governance Committee

Claudia Nemat

Irene Rummelhoff

Antony Wood

The 2023 results and our confidence in the futurefinancial performance underpin our proposal fora gross dividend payment of € 1.80 per share, as
in the previous year. The Board is also proposing
the payment of a special dividend of € 1.00 per
share which also reflects the stronger year-end
net cash position. We thank all our shareholders
for their continued engagement.
No annual message would be complete without
expressing the Board’s strong appreciation for thegreat efforts made by Airbus employees in 2023.
Their continued dedication means the Company
is well positioned to make the most of upcoming
opportunities and overcome challenges wheneverthey arise.

Audit Committee

René Obermann
Chairman of the Board

Remuneration, Nomination and Governance Committee
Ethics, Compliance and Sustainability Committee

Chairman’s message

Airbus Annual Report Overview 2023

05

How was the performanceper business segment?
Commercial aircraft deliveries rose by 11% to 735.
It was critically important to achieve this target andprogress as planned with the production ramp-up.
We are reaping the benefits of the modernisation
and upgrading of our industrial system, which isbringing more production flexibility. Notably, wedelivered the first A321neo aircraft from the new
A320 Family final assembly line in Toulouse andthe Tianjin site in China. This reflects our strategy
of making all A320 Family assembly sites capableof producing the popular A321. In addition,
construction of the second A320 final assembly
capacities began at our sites in Tianjin and Mobile
in the US, which will bring us to ten A320 Family
final assembly lines globally.

Gaining
altitude
Guillaume Faury outlines the year for Airbus,
including the operational and financial
performance. He also discusses the priorities
for the Company in 2024 and beyond.
How would you summarise Airbus’ 2023?
Overall, we made significant progress in 2023 andmet our objectives. This was the result of strong
engagement by Team Airbus, which focused on
the job at hand in a complex operating environment.
There was strong order activity across ourCommercial Aircraft, Helicopters, and Defence
and Space businesses. Global air passenger traffic
bounced back to almost pre-pandemic levels, andthe speed of recovery was clearly ahead of initialexpectations for the long-haul sector. The year
was not without its challenges however, includingin the commercial aircraft supply chain, and inparticular in our Space business.
Ultimately, it was a year of progress in areas vitalfor preparing our future, including the production
ramp-up, transforming the industrial set-up andpushing forward with our sustainability priorities.

It was a landmark year for Commercial Aircraft witha record 2,094 net orders, bringing the backlog
to almost 8,600 aircraft. This strong performance
was driven by both the growth in airline demand
and also the replacement of existing aircraft withmore modern, fuel-efficient models. It shows ourrange of products is well placed in this postpandemic world. We also progressed with theflight testing of the long-range capable A321XLR
ahead of its planned entry-into-service in 2024.

Guillaume Faury
Chief Executive Officer

Helicopters had another successful year, both
operationally and financially. Deliveries wereslightly higher, while net orders rose to 393 units
and were well spread across programmes.
The Division had a book-to-bill above 1 both inunits and value and saw strong services activity,
which generates roughly half of revenues.
Operational highlights included the first flight of theanti-submarine NH90 Sea Tiger for the German
Navy, the Spanish Navy taking delivery of its first
H135s and the DisruptiveLab demonstrator flying
for the first time.
It was a mixed year however for Defence andSpace, which pushed ahead with its much neededtransformation programme while addressing adifficult business and geopolitical backdrop. Thistransformation aims to make the business simpler,
more agile and have greater customer focus.
Significant charges were booked for certain Space
programmes in relation to revised timelines andcost estimates as well as for the reassessment ofcommercial risks and opportunities. These updated
Estimates at Completion mean we now have abalanced assessment of our Space programmes

It was a year of progressin areas vital for preparing
our future, including the production
ramp-up, transforming the industrial
set-up and pushing forward with
our sustainability priorities.”

CEO interview

Airbus Annual Report Overview 202306

which by nature involve high-tech, complex
products. Nevertheless, the Division registeredvery strong order inflow with a book-to-bill by valueof around 1.4, showing the underlying strengthof the product line.
Key military orders during the year included Spain’spurchase of C295 aircraft and the renewal of an
in-service support contract for Germany’s A400M
fleet. We also progressed with the demonstrator
Phase 1B of the Future Combat Air System (FCAS).
How was the overall financial performance?
We delivered an EBIT Adjusted of € 5.8 billion,
compared to € 5.6 billion in 2022. This outcome
reflects the level of commercial aircraft deliveries
and the good performance by Helicopters on
the positive side, but this was partly offset by
the charges in the Space business.
Free cash flow before M&A and customer
financing totalled € 4.4 billion. This outcome mainlyreflected the commercial aircraft deliveries anda strong performance across all the businesses.
We ended the year with a net income of € 3.8 billion.
Based on the strong 2023 financial performance,
prospects going forward and balance sheet
strength, the Board has been able to propose adividend of € 1.80 per share (2022: € 1.80 per share)
as well as a special dividend of € 1.00 per share.
What are your priorities for 2024 and beyond?
We remain fully committed to serving our customers
and meeting the strong demand for our modern
and fuel-efficient commercial aircraft. We haveto work closely with our supply chain partners
as we ramp-up production across programmes,with safety and quality at the heart of all we do.
The Company will continue to invest in, modernise
and adapt the industrial system to support the
ramp-up. In addition, we also have to successfully
manage the transformation of the Defence andSpace business.
We need to keep pushing forward with ourambitions in digitalisation and decarbonisation
as these are central to the Company’s successand development. Digital tools are an importantenabler for the production ramp-up and fundamental
for the development of the next generation of civil
and military products. We will continue to progresswith our sustainability roadmap this year andaccelerate the pace of change where required.

The Company is committed to the decarbonisationof aerospace and is acting as a catalyst to boost
the global market for sustainable aviation fuel(SAF). It is a priority, as it’s essential for reducing
aircraft lifecycle emissions and reaching theindustry’s net-zero ambitions by 2050. At Airbus,
we fulfilled our pledge of using 10% SAF in internal
flight operations in 2023, en route to the targeted
30% by 2030.
2024 will be another important year for our future
programmes. This decade we will be making
crucial decisions about the architecture of ournext-generation single-aisle aircraft and firsthydrogen-powered airliner. The single-aisle
and widebody orders in our commercial aircraft
backlog will support us through this required
period of intensive innovation and investment.
In Defence and Space, we are preparing for the
next phase of FCAS while ArianeGroup, the joint
venture in which we have an equal stake with
Safran, is gearing up for the first launch of
Ariane 6.
We began 2024 with an evolution in ourorganisational setup, as Christian Scherer became
the head of our Commercial Aircraft business.
As Airbus CEO, I am now able to dedicate moretime to the broader issues facing the Company,
ensuring we have firm foundations for the future
in a fast-changing world. This means focusing
more on our strategic direction, our company
transformation and on opportunities linked to
global business in an increasingly complex
geopolitical landscape. The leadership team has
also evolved across Airbus to better drive thisagenda while ensuring a stronger and more
dedicated focus on commercial aircraft.
As we work towards shaping our future and thatof the industry, one thing is certain – our core
principles of safety, quality, integrity, complianceand security will guide us in all we do.

Executive Committee
As of 1 January 2024

Guillaume Faury
Chief Executive Officer

Thierry Baril
Chief Human
Resources Officer

Bruno Even
Chief Executive Officer
Airbus Helicopters

Alberto Gutiérrez
Executive Vice President
Special Industrial Projects

John Harrison
General Counsel andHead of Airbus Public Affairs

Catherine Jestin
Executive Vice President
DigitalJulie Kitcher
Chief Sustainability Officer
and Communications

Sabine Klauke
Chief Technology Officer

Florent Massou
dit Labaquère
Executive Vice President
Operations of theCommercial Aircraft business

Philippe Mhun
Executive Vice President
Programmes and Servicesof the Commercial
Aircraft business

Christian Scherer
Chief Executive Officer of theCommercial Aircraft businessMichael Schoellhorn
Chief Executive Officer
Airbus Defence and SpaceThomas Toepfer
Chief Financial Officer

CEO interview

Airbus Annual Report Overview 2023

07

I’ve always loved flying.
When I was a kid my dreamwas to become a pilot. I studied
engineering and qualified as acommercial pilot. Later, at theAirbus design office, I began
working with the flight test teams.
That’s when I discovered the jobof flight test engineer. I never
knew it existed until then! Beingin the cockpit and focusing on
engineering offers a mix of theoperational and technical. It’s thebest of both worlds.

Our purposein action
Airbus’ talented employees are
shaping the future. Meet four
employees whose dedicatedwork to bring innovative products
and solutions to life contributes
to our purpose of pioneering
sustainable aerospace fora safe and united world.

My colleagues and I are lucky
enough to fly both in-service
aircraft and brand new machines,
assessing the latest innovations.
For example, I’m already looking
forward to handing over our first
A321XLRs to their owners in 2024.
Seeing our customers from aroundthe world discover our products
never gets old!
Lucie Chapirot-Sarda
Lead Flight Test Engineer

The production ramp-up is key for theCompany’s future and keeps Airbus’ flighttest teams busy. With over 20 years ofexperience, Lead Flight Test Engineer Lucie
Chapirot-Sarda is a familiar face in the
cockpit during the hundreds of production
test flights and customer acceptance flightsthat Airbus conducts each year. Among thelast steps in the delivery process, thesemissions put a new aircraft’s systems
through their paces in the air.

Every delivery is a reminder that
we’re just one part of the muchbigger team that guides an aircraft
through production to its maiden
flight. A flight test engineer’sschedule changes all the time.
It keeps us on our toes. I neverknow what I’m doing two daysin advance, but I like it that way.”

Our purpose in action

Airbus Annual Report Overview 2023

08

Thomas Philippe
UAS Programme Manager

The renewed instability of our world has
proven the value of combining manned
and unmanned aerial assets in complex
military operations. In this context, theVSR700 unmanned aerial system (UAS)
is a major asset that complements what
our helicopters can already achieve in an
operational environment. Thomas Philippe
has been UAS Programme Manager at
Airbus Helicopters for over three years,
overseeing the development of the VSR700.

The VSR700 unmanned
aerial system is a key partof Airbus Helicopters’ strategic
roadmap to continuously provide
customers with optimised, stateof-the-art mission capabilities.
This drone incorporates manytechnological breakthroughs thatwill help make it a reliable partner
for the French Navy in the frameof the SDAM (Système de Drone
What’s more, a substantial
Aérien pour la Marine) programme. amount of what we are developing
and learning with the VSR700
could be reintegrated into otherIn 2023, we tested the VSR700
programmes as drivers forfor the first time in an operational
configuration at sea, on a French continuous improvement across
Navy frigate. The mission simulation the range. For instance, theconfirmed the added value of the autonomous take-off and landing
UAS for the French Navy, so it was capabilities of our drone are aa great achievement for the entire powerful addition to a rotorcraft’s
ability to manoeuvre in demanding
team. This step was also crucial
conditions. The team and I areto increasing interoperability andthrilled to work on a programme
implementing a mission systemthat will be so transformative forthat helps to reduce the crew’s
vertical flight.”
workload in operations.
Our purpose in action

Airbus Annual Report Overview 2023

09

Yvonne Wittke
Senior Project Manager

The Future Combat Air System (FCAS)
is one of the most important European
defence programmes of the coming
decades. Senior Project Manager
Yvonne Wittke leads the development ofthe ‘Loyal Wingman’ drone platforms at
Airbus. Within the FCAS, these unmanned,
remotely piloted vehicles will be controlled
by manned combat aircraft such as theEurofighter and the New Generation Fighter.
They will have access to a ‘system-ofsystems’ that collects information fromair, sea, ground and space systems andcombines them in a data cloud, enabling
collaboration across domains.

Remotely piloted aircraft canbring a wide range of benefits
to a mission, from providing vital
intelligence to enhancing aircrew
protection. We are bringing tomarket a system that does not exist
today, and we are driving a leap
I’ve always loved maths
and physics, and ever since forward in Europe in areas such as
stealth materials and autonomous
I started at Airbus as a sheet
metal apprentice on the shopfloor, technologies. And we will do it
in a unique international setting,
I’ve sought to work on technicalworking together across borders
projects. Over the last 20 years,
and industries. I see this as
I’ve had the opportunity to workon helicopters, as well as civil and an historic opportunity.
military aircraft in various locations
and countries. Now, to be at the
FCAS will not only support
heart of FCAS development is
European autonomy andreally special. A next generation
technological sovereignty inprogramme of this magnitude only defence, but it will also help
happens once every 30 to 40
to protect lives and contributeyears in the defence industry.
to a safer Europe.”
Our purpose in action

Airbus Annual Report Overview 2023

10

Cyril Cavel
Former JUICE Project Manager

The successful launch in 2023 of the
JUICE spacecraft, built by Airbus for
the European Space Agency, followedin the footsteps of historical missions
that paved the way for exploration of thesolar system, such as Rosetta and Mars
Express. During its four-year mission
around Jupiter and its icy moons, JUICE’s
observations will enable scientists toanswer questions about deep habitats
on ocean worlds and better understandthe emergence of life. Cyril Cavel was
JUICE Project Manager before moving
on to a new mission at Airbus after the
spacecraft’s launch.

Being part of a projectof this scale was anopportunity to contribute to ascientific adventure that goesbeyond humanity by providing
answers to fundamental scientificquestions. I am very motivated
to contribute to science and theuniversal understanding of space.
More than 1,000 people aroundthe world worked on this mission,
including 150 Airbus engineers.
We were exposed to a uniquescientific, technical, human andcultural diversity that motivated us
every day. It’s fascinating to thinkthat we are taking the international
scientific community to Jupiter.

This highly complex mission
pushed us to our limits. It forced
us to innovate, to challenge ourengineering, manufacturing andtesting methods, and to maintainour key skills in order to remaina preferred partner for large-scale
space exploration missions. It kept
us at the forefront of technology,
inspiring us to always strive to
excel while remaining humble in
the face of the vastness of space.”

Our purpose in action

Airbus Annual Report Overview 2023

11

Guided byour strategy
The Airbus strategy is basedon four key areas of focus thatwill enable the Company todeliver on its purpose.

For further details of
the strategy, see the Universal
Registration Document.

Grow Airbus as an aerospaceand defence leader

Increase capacity to invest
for the future

The Company’s ability to grow in the future will
be earned through continuous innovation, bothin and around its current portfolio, as well as when
preparing the future generation of products andrelated services.

The right combination of growth, profitability
and resilience is vital to the Company’s long-termcompetitiveness. Continuous improvement in cost,
efficiency and customer satisfaction is essential
to further support the Company’s resilience andprepare for future investments.

Consolidate European
strengths and deepen
global reachLead the transformationof the aerospace industry

For over 50 years, the Company has built on
its strong European heritage to become truly
international. Continued investment in its global
footprint is a key strength when addressing
international markets.

Through a resilient business model, the Company
is striving to lead the decarbonisation of theaerospace sector while meeting international
ESG standards. It will focus relentlessly on quality
and safety.

Strategy

Airbus Annual Report Overview 2023

12and armed conflict in others brought therelationship between sustainability, security anddefence to the forefront of international affairs.

Pioneering
sustainableaerospace
Airbus’ purpose is to pioneer sustainableaerospace for a safe and united world.
The Company is aware of its responsibility
to society and future generations, andcontributes to the UN Sustainable
Development Goals (SDGs) through its corebusiness and how it operates. The Company
approaches sustainability by striving torespect the planet, being committed tovaluing people, and enabling prosperity.
These guiding principles are embedded
in its operations and activities.

Commitment to the UN Sustainable Development Goals
Through its business activities and sustainability commitments, the Company
contributes to at least eight of the United Nations Sustainable Development Goals.
Quality education
Ensure inclusive and equitable quality
education and promote lifelong learning
opportunities for all.

Responsible consumption and production
Ensure sustainable consumption andproduction patterns.

Gender equality
Achieve gender equality and empower
all women and girls.

Climate action
Take urgent action to combat climate change
and its impacts.

Decent work and economic growth
Promote sustained, inclusive and sustainableeconomic growth, full and productive
employment and decent work for all.

Peace, justice and strong institutions
Promote peaceful and inclusive societies forsustainable development, provide access tojustice for all and build effective, accountable
and inclusive institutions at all levels.

Industry, innovation, and infrastructure
Build resilient infrastructure, promote
inclusive and sustainable industrialisationand foster innovation.

Partnerships for the goals
Strengthen the means of implementation
and revitalise the global partnership forsustainable development.

The Company enables prosperity, and is committed
to connecting economies and encouraging global
cooperation. Partnerships solidified in 2023 include:
an agreement with VDL Group to develop andmanufacture a laser communication terminal for
aircraft; a joint venture with Voyager Space todevelop, build and operate the successor to theInternational Space Station; the launch of the
Quantum Computing Challenge, sponsored jointlywith BMW, to develop quantum computing
technologies and tackle the most pressing mobility
challenges; and partnerships with key hydrogen
industry players in New Zealand and Germany.
The Company’s sustainability strategy remainsaligned with four sustainability commitments that
correspond to the relevant UN SDGs (see table):to lead the journey towards clean aerospace; tobuild our business on the foundation of safety andquality; to respect human rights and foster inclusion;and to exemplify business integrity. The Universal
Registration Document provides details on eachof these commitments.

Airbus strives to respect the planet by working
to reduce the environmental impact of its own
manufacturing as well as the emissions createdduring product lifecycles. In January 2023, the
Science Based Targets initiative (SBTi) approved
Airbus’ near-term decarbonisation targets for
Scope 1, 2 and 3 emissions. The Company
increased its use of sustainable aviation fuel (SAF)in 2023 compared to 2022. Airbus also establishedpartnerships to encourage further SAF uptake
throughout the aerospace industry. Several
demonstrators devoted to decarbonisation
technologies reached significant milestones in 2023.
The Company is committed to valuing people,
with a business built on a foundation of safety,
quality, integrity, compliance and security. Airbus
embeds and advances respect for human rights
within its business, operations and supply chain.
The Company’s commitments to human rights
have been outlined in a Human Rights Policy andembedded in the business management system.
This commitment extends beyond the aerospaceindustry and includes supporting humanitarianefforts and strengthening the resilience ofcommunities around the world. In 2023, worsening
geopolitical tensions in certain parts of the world
Sustainability

Airbus Annual Report Overview 2023

13

The following examples illustrate key
progress in sustainability made by theCompany in 2023.

Low-carbon demonstrator milestones
2023 was an important year for multiple Airbus
flight demonstrators that aim to accelerate thedevelopment of carbon mitigation technologies.

Accelerating social impact
The Community Impact Policy continued to guidethe Company’s social impact in 2023, focusing
on three main themes: supporting and developing
vulnerable communities, youth and quality
education, and safeguarding the future of the planet.
Airbus continued six corporate giving partnerships
from 2022 and, throughout 2023, 27 new projects
across 24 countries were validated. These projects
focus on responding to local needs and creating
sustainable positive change. They include
providing access to safe and clean water in thePhilippines and for indigenous communities inAustralia; contributing to skills development
through career-tech STEM programmes in theUS; digitalisation training leading to employment
opportunities in India; and planting a community
forest in Vietnam. The Company also built upon
progress made in 2022 to develop a corporate
disaster response procedure.
Airbus SE expanded opportunities for employee
engagement on the +impact digital platform,
which launched at the end of 2022, and employee
participation increased during 2023. Key tothis trend was the growth of the Company’s
Sustainability Ambassador network, which
increased to over 800 members. This network
was instrumental in engaging employees insustainability challenges.

Regarding advances in hydrogen technology
development, the ZEROe project teamsuccessfully powered on the ‘iron pod’ of theelectric demonstrator model in the lab, usinghydrogen fuel cells to power the propulsion system
for the first time. Meanwhile, in the United States,
the contrail-chasing Blue Condor demonstrator
made Airbus’ first 100% hydrogen-powered flightover the deserts of Nevada.

Expanding our impact via
the Airbus Foundation
The Airbus Foundation facilitates philanthropic
initiatives worldwide by providing access to Airbus’
portfolio of high-tech products, services andknow-how. It focuses on making an impact inthree strategic areas: humanitarian response,
youth development and environmental action.
In 2023, the Airbus Foundation coordinateda number of humanitarian flights that deliveredmaterial aid to communities impacted by disaster.
Additionally, helicopter flight hours were chartered
to perform assessments and transport materials
in response to natural disasters. The Foundation
also provided satellite imagery to partners tofacilitate assessments, planning and monitoring.
The Foundation’s youth programmes reachedthousands of students in 2023. New content was
produced, including a video mini-series about
helicopters and satellites, as well as a personal
development booklet for teenagers. The fifth
edition of the Moon Camp Challenge took place,with the participation of students from aroundthe world.
The Foundation entered the second phase of
its three-year project with the International Union
for Conservation of Nature, providing technicaldata, satellite imagery and project management totheir forest restoration barometer. It also deepened
its collaboration with the Connected Conservation
Foundation, providing high resolution satellite data
to three community-based organisations throughthe Satellites for Biodiversity award.

When it came to electric-battery-powered flight,
progress was also made. In November, the
EcoPulse demonstrator – a joint project with
Safran and Daher – took off on its first test flightwith a functional hybrid-propulsion system aboard.
The onboard battery, which was designed by
Airbus Defence and Space, powered the aircraft’s
engines for around 20 minutes during the flight.
Airbus Helicopters demonstrators also madesignificant progress on advancing electric flight.
In January, DisruptiveLab took its first flight,
testing a fully parallel hybrid propulsion systemthat enables batteries to be recharged in-flight.
And in October, FlightLab, a twin-engine
technology demonstrator based on the H145
platform, successfully tested an electric flightcontrol system that will equip CityAirbus NextGen,
Airbus’ eVTOL (electric vertical take-off andlanding) prototype.

Fostering SAF uptake
The Company increased the share of sustainableaviation fuel (SAF) used in internal aircraft andhelicopter flight operations to over 10% in 2023,
with the goal of reaching at least 30% by 2030.
In July 2023, Airbus began offering up to 5%-pure(1)SAF, at no extra cost, to customers taking deliveryof aircraft in Toulouse and Hamburg.
To complement this uptake of SAF in-house,
Airbus is also encouraging the development of
the international SAF ecosystem through strategic
partnerships with key industry players. In March,
the Qantas Group, Airbus and the Queensland
Government invested in a Queensland biofuel
production facility being developed by Jet Zero
Australia in partnership with leading SAF
technology company LanzaJet. The investment
will be used to conduct a detailed feasibility study
and early-stage project development. In June,a landmark agreement was signed between
Airbus and the Qantas Group to invest up to
US$ 200 million in accelerating the establishmentof an Australian SAF industry. The Company also
entered into a memorandum of understanding(MOU) with LanzaJet, which aims to accelerate theconstruction of SAF facilities and the certification
and adoption of 100% drop-in SAF.
Airbus Helicopters became the first helicopter
manufacturer to perform a SAF flight in China, usingan H125 powered by a hybrid ratio of 40% of SAF.
Airbus Defence and Space also celebrated a SAF
milestone in 2023, when the UK Royal Air Force flew
an A330 MRTT air-to-air SAF mission that refuelled
four Eurofighter Typhoons with a SAF blend.
(1) 5% SAF means a fuel mix consisting of 5% pure SAF and 95%
jet fuel.

Sustainability

Airbus Annual Report Overview 2023

14

Airbus

Deliveries (units)735

2023 key events• Deliveries rise 11% to 735 aircraft• Record order intake• Industrial system advances• A321XLR progresses towards certification(2022: 661(1))

Net order intake (units)

2,094

Commercial aircraft orders and deliveriesrose year-on-year, with a solid increase
in revenues and underlying earnings.
2023 included a number of operationaland sustainability milestones.

(2022: 820)

Revenues (€ million)

47,763Gross orders increased to a record 2,319
commercial aircraft (2022: 1,078 aircraft), with net
orders rising to 2,094 aircraft (2022: 820 aircraft)and corresponding to a book-to-bill ratio well
above 1. The recovery of the widebody market was
confirmed, with 342 gross orders including 182 in
the fourth quarter. Across all product ranges, thetotal order backlog stood at 8,598 aircraft at the endof 2023, compared with 7,239 at the end of 2022.
A total of 735 commercial aircraft were delivered(2022: 661(1) aircraft) and by aircraft type comprised
68 A220 Family, 571 A320 Family, 32 A330
Family and 64 A350 Family. Revenues increased
15% to € 47,763 million (2022: € 41,428 million),
mainly reflecting the higher quantity of deliveries.
EBIT Adjusted increased to € 4,818 million(2022: € 4,600 million), reflecting the delivery
increase and a more favourable currency hedge
rate, partially offset by investments for preparing
the future. FY 2022 included a non-recurring
positive impact from retirement obligations andcompliance-related topics, partly offset by the
impact resulting from international sanctions against
Russia, while in H1 2023 provisions of € 0.1 billion
were released for compliance-related topics.
Operational focus
To support the ongoing production ramp-up,
various operational milestones were achieved toincrease the flexibility and capability of the global
industrial system. Construction began in both
Tianjin, China, and Mobile, US, on their respective
second A320 Family final assembly lines, while
deliveries began from the new A320 Family final
assembly line in Toulouse. All A320 Family assembly
sites are being made A321-capable, with both
Tianjin and Toulouse delivering their first aircraftof this type.

(2022: 41,428)

EBIT Adjusted (€ million)

4,818(2022: 4,600)(1) After a reduction of two aircraft previously recorded
as sold in December 2021 for which a transfer was notpossible due to international sanctions against Russia.

External revenues by activity

Progress continued towards the certification of theA321XLR, with the initial customer aircraft entering
the final assembly line towards the end of the year.
A new A321XLR equipment installation hangar was
opened in Hamburg. The new outsize cargo service,
Airbus Beluga Transport (AiBT), using Airbus
A300-600ST ‘BelugaST’ aircraft, received its Air
Operator Certificate – thus becoming a dedicatedairline. AiBT will deliver special payloads tocustomers worldwide, eventually using five of thesetransport aircraft as Airbus progressively switches
to the larger BelugaXL for its transport needs.

Platforms

9%

Services91%

In 2023, up to 5%-pure(2) sustainable aviation fuel(SAF) was offered to customers taking deliveryof aircraft in Toulouse and Hamburg, at no extra
cost. The use of SAF in internal flight operations
was scaled up during the year. Airbus announced
that it will renew its fleet of ships that transport
aircraft subassemblies between production
facilities in Europe and the US. This renewal aims
to halve fleet fuel burn and CO2 emissions on thisroute by 2030, compared with a 2023 baseline.
(2) 5% SAF means a fuel mix consisting of 5% pure SAF and 95%
jet fuel.

AirbusAirbus Annual Report Overview 2023

15

Deliveries (units)

Net order intake (units)

346

393

(2022: 344)

(2022: 362)

Revenues (€ million)

EBIT Adjusted (€ million)

7,337

735

(2022: 7,048)(2022: 639)

AirbusHelicopters
2023 key events• Book-to-bill above 1• Delivery of 346 helicopters• FAA certifies the H160
• Progress with decarbonisation roadmap
The Division delivered a solid performance,
both in terms of order intake and earnings.
There were various operational achievements
for new products and decarbonisation
initiatives.
Airbus Helicopters’ order intake was well spread
across programmes, with a total of 393 net orders(2022: 362 units). The book-to-bill ratio was above
1 both in units and value. There was a strong
performance for medium helicopters as well as
services. Significant orders included an agreement
to expand the German armed forces’ fleet withup to 82 H145M helicopters (62 firm orders and
20 options) and 42 H145s for the French Ministryof the Interior.
Deliveries increased slightly to 346 units(2022: 344 units) with the Division retaining its
strong market position. Revenues increased

by 4% to € 7,337 million (2022: € 7,048 million),reflecting the overall solid performance acrossprogrammes and services. EBIT Adjusted
increased to € 735 million (2022: € 639 million)
with a profit margin of 10%, confirming theDivision’s progress in recent years. FY 2022
included net positive non-recurring elements
related to retirement obligations.
Product developments
Various milestones were achieved for new products
and development programmes. The NH90 Sea
Tiger, a state-of-the-art anti-submarine warfare
helicopter ordered for the German Navy, took its
first flight, while the H175M successfully performed
flight demonstrations in extreme hot and highconditions. The US Federal Aviation Administration
certified the H160 helicopter while the VSR700
unmanned aerial system demonstrated its
performance during sea trials, operating froma French Navy frigate.

enhance aviation safety. The DisruptiveLabdemonstrator flew for the first time, featuring
a new aerodynamic architecture aimed to reduce
fuel consumption, while the PioneerLab was
unveiled with the aim of testing hybridisation
for twin-engine aircraft and introducing
bio-based materials.
Assembly of the CityAirbus NextGen electric
vertical take-off and landing prototype started,with power-on performed. The Division ramped
up the use of sustainable aviation fuel for its
development test flights, training, deliveries
and ferry flights.

External revenues by activity
Platforms
Services
47%

Airbus Helicopters continued its strong focus
on innovation and sustainability, including thedevelopment of demonstrators designed toadvance its decarbonisation roadmap andAirbus Helicopters

53%

Airbus Annual Report Overview 2023

16

Airbus
Defenceand Space2023 key events• Strong order inflow, book-to-bill around 1.4• Major contracts for military aircraft• Transformation plan initiated• JUICE spacecraft launched
The Division achieved record order intake
during the year while earnings reflectedcharges recorded for certain Space
programmes. There were various operationaland sustainability achievements.

In January 2024, a new organisational structure
went live with three business lines: Air Power(combining the Military Air Systems and Future
Combat Air System, or FCAS, activities), Space
Systems and Connected Intelligence.
Operational events
A total of eight A400M airlifters were delivered
while construction began on a new maintenancecentre for A400Ms of the German air force.
The first of 56 C295 aircraft was delivered to theIndian Air Force under an agreement which will
see the first 16 aircraft assembled in Spain andthe remaining 40 in India. Progress was made on
Demonstrator Phase 1B of the FCAS programme,
together with Airbus’ partners. In Space, fullproduction began of the first of six Galileo Second
Generation satellites at Airbus’ site in Friedrichshafen,
Germany, and the Jupiter-bound JUICE spacecraft
was launched.

Airbus Defence and Space’s net order intake
increased by 15% to € 15,701 million (2022: € 13,660
million), corresponding to a book-to-bill ratio ofaround 1.4. Key contracts included Spain’spurchase of 16 C295 aircraft for maritime patroland surveillance roles and a contract renewal by
Germany for the in-service support of its A400M
fleet. There were notable successes for the A330
MRTT, with Canada ordering four newly built
and five converted aircraft, while France signed
contracts for the capability enhancement andin-service support of its MRTTs. Spain signed
a contract for the development and acquisitionof SIRTAP, a high-performance tactical unmanned
aerial system.

Sustainability was a continued focus area for theDivision. The UK Royal Air Force used an Airbus
A330 MRTT to refuel four Eurofighter Typhoons
with a SAF blend. Airbus military aircraft operators
flew a number of humanitarian missions following
earthquakes in Turkey and Morocco, and crises
in Sudan and Niger.

(2022: 13,660)(2022: 38,426)

Revenues increased slightly to € 11,495 million(2022: € 11,259 million), mainly driven by the
Military Air Systems and Connected Intelligencebusiness lines, offset by some updated Estimatesat Completion assumptions on certain Space
programmes. EBIT Adjusted decreased to € 229
million (2022: € 384 million), reflecting charges of€ 0.6 billion resulting from these updated Estimatesat Completion, partially mitigated by the good
performance of the rest of the business for theperiod. FY 2022 included some non-recurring
elements, notably from the loss of two Pléiades
Neo satellites.

Revenues (€ million)

EBIT Adjusted (€ million)

Net order intake(€ million)

Order book(€ million)

15,701 42,195
11,495 229(2022: 11,259)(2022: 384)

External revenues by activity
Platforms
Services
34%

The Division initiated its transformation programmein early 2023, designed to make the businesssimpler, more agile, and more customer oriented.
Airbus Defence and Space66%

Airbus Annual Report Overview 2023

17

The 2023 results
were strong overall
and importantly we achieved
our guidance in a complex
operating environment.”

Thomas Toepfer
Chief Financial Officer

Progressing
withpriorities
Thomas Toepfer took over as Chief Financial
Officer in September 2023. Here he discusses
the Company’s financial performance in 2023
and the priorities going forward.

How was the transition to becoming
Airbus CFO?
Firstly, it was a huge honour to join Airbus andI thank the Board and management for their trust
in me. While my previous company operated ina different industry sector, it was very much atechnology-driven business like Airbus. It’s great
to be part of a fascinating company that’s a truly
multinational organisation with an incredible
breadth of products. Obviously there was a lot tolearn initially about Airbus, and I’d like to thank all
my colleagues, both in finance and outside, formaking it such a smooth transition. Since arriving,I have prioritised visiting as many sites as possible
to get that added insight about the businessand operations.

filtered through into the financial performance.
As a reminder, we were targeting around
720 deliveries for the year.

How was the core financial performancein 2023?
The 2023 results were strong overall andimportantly we achieved our guidance in acomplex operating environment. The Airbus teams
can be proud of this achievement. If I had to pickout one number that reflects our success it would
be the 735 commercial aircraft deliveries that

The year-on-year EBIT Adjusted increase mainlyreflected the deliveries, a more favourable hedge
rate and the solid performance in the Helicoptersbusiness. This was however partly offset by theinvestments we are making to prepare the future,including to support the production ramp-up,
and charges of € 0.6 billion in certain
Space programmes.

If we start with the topline, our consolidated
revenues increased by 11% year-on-year to€ 65.4 billion, mainly reflecting the higherdeliveries. EBIT Adjusted, which measures ourunderlying financial performance, increased to€ 5.8 billion from € 5.6 billion in 2022. It’s worth
remembering that 2022 included a net positive
impact of € 0.4 billion notably from retirement
obligations and compliance-related topics, partly
offset by the impact from the loss of two Pléiades
Neo satellites and international sanctions
against Russia.

CFO interview

Airbus Annual Report Overview 2023

18

These charges followed an in-depth review ofSpace programmes and updated Estimates atCompletion. The charges reflect revised timelines
and cost estimates as well as the reassessmentof commercial risks and opportunities. While thishigh-tech business carries risks, this exercise
has provided us with a balanced assessment
going forward.
To complete the picture, it’s also worth noting thatfurther progress was made with compliance-related
topics in 2023, allowing us to release provisionsof € 0.1 billion in the first half.
How were the reported results?
Our reported EBIT of € 4.6 billion included sizeable
Adjustments that totalled a net negative € 1.2 billion.
Here, the largest element was the negative impact
resulting from the dollar working capital mismatchand balance sheet revaluation. That’s largely themechanical impact arising from the difference
between the transaction date and delivery date.
We report this metric each quarter and it can be
negative or positive.
The financial result of € 166 million mainly reflected
a positive impact from the revaluation of certain
equity investments. Once we take into account the
Adjustments, financial result and tax, the Company
ended the year with a net income of € 3.8 billion(2022: € 4.2 billion) and reported earnings per
share of € 4.80 compared to € 5.40 in 2022.
How was the cash evolution in 2023?
If we start with free cash flow before M&A andcustomer financing, which was part of our 2023
guidance, this totalled € 4.4 billion (2022: € 4.7 billion).
On the one hand this reflected the level of deliveries
and commercial momentum across all ourbusinesses, which resulted in a good flow of
pre-delivery payments. Conversely, the executionof the production ramp-up in commercial aircrafttranslated into a mechanical build-up of inventory.

The A400M also continued to weigh on the cash
performance in 2023. Capital expenditure amounted
to € 3.1 billion compared to € 2.5 billion in 2022,
reflecting investments in enhancing and upgrading
our industrial system.
We ended 2023 with an improved net cash
position of € 10.7 billion, compared to € 9.4 billion
a year previously, and a strong liquidity positionof well above € 30 billion. This healthy net cash
position supported the Board’s proposal for a
special dividend alongside the normal dividend
payment, which further highlights our focus onshareholder return.

This healthy net cash
position supported theBoard’s proposal for a special
dividend alongside the normal
dividend payment, whichfurther highlights our focus
on shareholder return.”

What are the priorities for 2024?
We need to be laser focused on achieving our
objectives again this year, including the ramp-up
of production in Commercial Aircraft. At the sametime, we need to be efficient and mindful of thecosts that we generate.
In finance, we need to ensure the Company canmeet both its short- and long-term objectives.
So this means continuing to invest in the industrial
system and also supporting our strategicallyimportant ambitions in digitalisation anddecarbonisation.

Revenues (€ million)

Net income (€ million)

65,4463,789(2022: 58,763)(2022: 4,247)

EBIT Adjusted (€ million)

Reported earnings per share(1) (€)

5,838

4.80

(2022: 5,627)(2022: 5.40)

EBIT Reported (€ million)

Free cash flow before M&A andcustomer financing (€ million)

4,603(2022: 5,325)

4,386(2022: 4,680)(1) FY 2023 average number of shares 788,720,779
compared to 787,080,579 in FY 2022.

CFO interview

Airbus Annual Report Overview 2023

19

Share price evolution
2021

2022

2023

160%

Share
information
In 2023, the Airbus SE share price remained
volatile and closed at € 139.78.
After opening at € 112.22 in January, the Airbus
SE share price outperformed the market during thefirst quarter, supported by the solid 2022 financial
results and positive reaction to the announcementof an increase in the targeted production rate for
widebody aircraft. Global equity markets remained
volatile given the uncertainty around inflation andinterest rates, and concerns around the stabilityof the banking sector.

Shareholding structure
As of 31 December 2023
11%

Annual General Meeting:

10 April 2024

4%

11%

74%

Free float(1)
SOGEPA (French State)
GZBV (German State)
SEPI (Spanish State)(1) Includes shares held by the Company itself.

E-mail: ir@airbus.com
Website: www.airbus.com

150%
140%
130%
120%
110%
100%
90%
80%
Dec
2020
Airbus SE

CAC 40 Index

Dec
2021

Dec
2022

DAX 40 Index

MSCI World Aerospace and Defence Index

In the second quarter, the share price was further
supported by the acceleration of deliveries andorder momentum, in spite of concerns aroundsupply chain tensions in the overall aerospaceindustry and the back-loaded profile of Airbus
deliveries expected in 2023. Global markets
remained volatile as mixed economic data fuelled
uncertainty around inflation, interest rates andeconomic growth.
In the third quarter, global markets declined due toconcerns about the potential for “higher for longer”
interest rates and revised economic growth
perspectives, despite moderating inflation. In thiscontext, the Airbus SE share price was dragged
down by uncertainty around GTF engine issues,
resulting from a rare condition in powdered metal
used to manufacture certain engine parts, andthe fleet management plan developed primarily
for the GTF engines, which power the A320neo.

Dec
2023

In the fourth quarter, global equities were
impacted by the escalating conflict in the Middle
East, uncertainty around central banks’ interest
rate decisions, and relatively underwhelming
corporate earnings. However, equity markets
recovered towards the end of the quarter, lifted byeasing inflation, the stabilisation of US monetary
policy with no additional interest rate increases,
and further dovish signalling from major central
banks. The Company’s share price reached a then
all-time high during the course of 14 December
at €143.98, benefitting from this positive trend andfurther supported by a strong order momentum,in spite of concerns about the Airbus Defence
and Space business.
With a performance of +26% in 2023, Airbus SE
shares outperformed the CAC 40 index (+17%) andthe DAX 40 index (+20%), as well as the broader
aerospace and defence sector (MSCI World
Aerospace and Defence Index +14%).

Share information

Airbus Annual Report Overview 2023

20

Safe Harbour Statement
This document includes forward-looking statements.
Words such as “anticipates”, “believes”, “estimates”,“expects”, “intends”, “plans”, “projects”, “may”
and similar expressions are used to identify theseforward-looking statements. Examples of forwardlooking statements include statements madeabout strategy, ramp-up and delivery schedules,
introduction of new products and services andmarket expectations, as well as statements
regarding future performance and outlook. By theirnature, forward-looking statements involve risk anduncertainty because they relate to future eventsand circumstances and there are many factors that
could cause actual results and developments todiffer materially from those expressed or impliedby these forward-looking statements.
These factors include but are not limited to:• Changes in general economic, political or market
conditions, including the cyclical nature of someof Airbus’ businesses;• Significant disruptions in air travel (including as aresult of the spread of disease or terrorist attacks);• Currency exchange rate fluctuations, in particularbetween the Euro and the US dollar;• The successful execution of internal
performance plans, including cost reduction
and productivity efforts;• Product performance risks, as well as
programme development and management risks;• Customer, supplier and subcontractor
performance or contract negotiations, including
financing issues;• Competition and consolidation in the aerospaceand defence industry;• Significant collective bargaining labour disputes;• The outcome of political and legal processes,
including the availability of government financing
for certain programmes and the size of defence
and space procurement budgets;• Research and development costs in connection
with new products;• Legal, financial and governmental risks related
to international transactions;• Legal and investigatory proceedings and othereconomic, political and technological risks anduncertainties;• Changes in societal expectations and regulatory
requirements about climate change;• The lingering effects of the COVID-19 pandemic;• Aggravation of adverse geopolitical events,
including Russia’s invasion of Ukraine and theresulting imposition of export control restrictions
and international sanctions, and rising militarytensions around the world.
As a result, Airbus SE’s actual results may differ
materially from the plans, goals and expectations
set forth in such forward-looking statements.
For more information about the impact ofRussia’s invasion of Ukraine and the impactof the Macroeconomic Environment, see note 2“Geopolitical and Macroeconomic Environment”
of the Notes to the Airbus SE IFRS Consolidated
Financial Statements for the twelve-month period
ended 31 December 2023 published 15 February
2024 (the “Financial Statements”). For more
information about factors that could cause
future results to differ from such forward-looking
statements, please refer to Airbus SE’s most recent
annual reports, including the Report of the Boardof Directors, the Financial Statements and the Notes
thereto, the Universal Registration Document andthe most recent Risk Factors. Any forward-looking
statement contained in this document speaks asof the date of this document. Airbus SE undertakes
no obligation to publicly revise or update any
forward-looking statement in light of new
information, future events or otherwise.

Image credits
Cover © Airbus 2022, © Airbus 2023, © Airbus
Helicopters 2023/Thierry Rostang – IMAGIN’R,© Airbus Defence and Space GmbH
Inside cover © Airbus SAS 2023
p.2 © Airbus SAS 2023
p.3 © Airbus SAS 2023, © Airbus SAS 2023/
James Darcy, © Airbus Helicopters/Cara Irina Wagner
p.4 © Airbus SAS 2023, © Airbus Defence andSpace GmbH 2023/Martin Agüera
p.5 © Airbus SAS 2023, © Airbus SAS 2022,© Airbus SAS 2021
p.6 © Airbus SAS 2023, © Airbus Operations
GmbH 2023/Stefan Kruijer
p.7 © Airbus SAS, © Airbus SAS 2023
p.8 © Airbus SAS 2024, © Airbus SAS 2023
p.9 © Airbus Helicopters 2024/Thierry Rostang,© Airbus Helicopters 2023, © Max Bauwens/REA
p.10 © Airbus Defence and Space GmbH 2024,
Airbus Defence and Space GmbH 2022, Airbus
Defence and Space GmbH
p.11 © Airbus Defence and Space GmbH 2024,© Airbus SAS 2022/Guillaume Fraysse – MasterFilms,© Airbus Defence and Space GmbH 2015p.12 © Adobe Stock, ThomasLENNE
p.13 © Airbus SAS 2023, © Airbus Defence andSpace GmbH 2023
p.14 © Airbus SAS 2024, © Airbus SAS 2023,© Daher 2023, © Sang Nguyen
p.15 © Airbus SAS 2023, © Airbus SAS 2018,© Airbus SAS 2014p.16 © Airbus Helicopters 2023/Cara Irina Wagner,© Airbus Helicopters 2023/Christian Keller,© Airbus Helicopters 2018/Anthony Pecchi
p.17 © Airbus 2023, © Airbus Defence and SpaceSAU 2023, © Airbus Defence and Space SAU
2023/Adrian Molinos – Mango Producciones
p.18 © Airbus SAS 2023
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Airbus SE
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The Netherlands