First half-year 2015 Financial Report2015 Semi-annual report of the Board of Directors ............................................................................................ 2
Unaudited Condensed Interim IFRS Consolidated Financial Information of Airbus Group SE

for thesix-month period ended 30 June 2015 ................................................................................................................. 4
Appendix: Review report of the independent auditor

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

2015 Semi-annual report of the Board of Directors
1. Semi-annual report on activities
Main events in the first half-year of 2015
For an overview of the main events that occurred during the first half of 2015 and their impact on the Unaudited
Condensed Interim IFRS Consolidated Financial Information of Airbus Group for the six-month period ended
30 June 2015 (the “Semi-Annual Financial Statements”), please refer to the press release, which will be issued on
31 July 2015, available on Airbus Group’s website www.airbusgroup.com.
For further information and detail regarding Airbus Group’s activities, finances, financing, risk factors andcorporate governance, please refer to Airbus Group’s website www.airbusgroup.com and the documents posted
thereon.
Related party transactions
Please refer to the notes to the Semi-Annual Financial Statements attached hereto (see Note 24 “Related party
transactions”).

2. Risk factors
ERM has become a key management process across the Group, serving to mitigate key risks and increase
opportunity, with a particular focus on major aircraft programmes such as the A350 XWB.
By mapping all material risks, planning how to mitigate them and how to seize related opportunities, ERM isdesigned to achieve the following:
1. Strategy: keep high-level strategic objectives consistent with risk appetite
2. Operations: safeguard effectiveness and efficiency of operations and resource allocation, in line withperformance and financial targets
3. Reporting: ensure reliability of reporting, in particular financial reporting
4. Compliance: comply with applicable laws and regulations.

For a description of the Enterprise Risk Management system, the main risks and uncertainties please refer to the:a. Airbus Group SE Report of the Board of Directors 2014 (sections 4.5 and 4.6)
(http://www.airbusgroup.com/dam/assets/airbusgroup/int/en/investor-relations/documents/2015/GeneralMeeting/Airbus-Group-N.V.-Board-Report2014/Airbus%20Group%20N.V.%20Report%20of%20the%20Board%20of%20Directors%202014%20.pdf),
andb. Airbus Group SE Registration Document (section “Risk Factors”)(http://www.airbusgroup.com/dam/assets/airbusgroup/int/en/investor-relations/documents/2015/GeneralMeeting/Airbus-Group-N.V.-Registration-Document-2014-E/Registration%20Document%202014.pdf).
Airbus Group Corporate Responsibility & Sustainability Report 2014 (p14, section Enterprise Risk
Management; http://www.airbusgroup.com/dam/assets/airbusgroup/int/en/investorrelations/documents/2015/Annual-Reports/Airbus_Group_CR-S_2014/Airbus_Group_CRS_2014.pdf )2

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

3. Semi-Annual Financial Statements
The Semi-Annual Financial Statements, including the review report by KPMG Accountants N.V., are attachedhereto.

4. Statement of the Board of Directors
The Board of Directors of Airbus Group hereby declares that, to the best of its knowledge:
the Semi-Annual Financial Statements for the period ended 30 June 2015 give a true and fair view of the assets,
liabilities, financial position and profits or losses of Airbus Group and undertakings included in the consolidation
taken as a whole; andthis Semi-Annual Board Report (including the press release, which was approved by the Board of Directors on 30
July 2015 and will be issued on 31 July 2015) gives a true and fair view of the position as per the balance sheet
date, and of the development and performance during the first half of the 2015 financial year and expected courseof events of Airbus Group and undertakings included in the consolidation taken as a whole. This Semi-Annual
Board Report has paid special attention to investments and circumstances upon which the development ofrevenues and profitability is dependent, as these have been described herein.

30 July 2015,
The Board of Directors
Denis Ranque, Chairman
Tom Enders, Chief Executive Officer
Manfred Bischoff, Director
Ralph D. Crosby, Director
Hans-Peter Keitel, Director
Hermann-Josef Lamberti, Director
Anne Lauvergeon, Director
Lakshmi N. Mittal, Director
Sir John Parker, Director
Michel Pébereau, Director
María Amparo Moraleda Martínez, Director
Jean-Claude Trichet, Director

3

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed Interim IFRS Consolidated
Financial Information of Airbus Group SE
for the six-month period ended 30 June 2015
Unaudited Condensed IFRS Consolidated Income Statements ........................................................................ 5
Unaudited Condensed IFRS Consolidated Income Statements for the second quarter of 2015 and 2014.... 6
Unaudited Condensed IFRS Consolidated Statements of Comprehensive Income ........................................ 7
Unaudited Condensed IFRS Consolidated Statements of Comprehensive Income for the second quarter2015 and 2014 ........................................................................................................................................................ 8
Unaudited Condensed IFRS Consolidated Statements of Financial Position.................................................. 9
Unaudited Condensed IFRS Consolidated Statements of Cash Flows .......................................................... 10
Unaudited Condensed IFRS Consolidated Statements of Changes in Equity ............................................... 11
Notes to the Unaudited Condensed IFRS Consolidated Financial Statements as at 30 June 2015 ............. 121.

The Company ......................................................................................................................................... 122.

Accounting policies .............................................................................................................................. 12

3.

Acquisitions and disposals .................................................................................................................. 13

4.

Segment information............................................................................................................................. 14

5.

Revenues, gross margin and profit before finance result and income taxes .................................. 16

6.

Finance result ........................................................................................................................................ 16

7.

Income taxes .......................................................................................................................................... 17

8.

Earnings per share ................................................................................................................................ 17

9.

Intangible assets and property, plant and equipment ........................................................................ 17

10.

Investments accounted for under the equity method ........................................................................ 18

11.

Other investments and long-term financial assets............................................................................. 18

12.

Inventories ............................................................................................................................................. 18

13.

Other financial assets ........................................................................................................................... 18

14.

Other assets ........................................................................................................................................... 19

15.

Securities ............................................................................................................................................... 19

16.

Assets and disposal groups classified as held for sale .................................................................... 19

17.

Total equity ............................................................................................................................................ 19

18.

Provisions .............................................................................................................................................. 20

19.

Financing liabilities ............................................................................................................................... 20

20.

Other financial liabilities ....................................................................................................................... 21

21.

Other liabilities....................................................................................................................................... 21

22.

Cash flows ............................................................................................................................................. 21

23.

Financial instruments ........................................................................................................................... 22

24.

Related party transactions ................................................................................................................... 24

25.

Litigation and claims ............................................................................................................................. 25

26.

Number of employees ........................................................................................................................... 27

27.

Subsequent events................................................................................................................................ 27

4

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Income Statements
1 January 30 June 2015
M€
%

Note
Revenues

5

1 January 30 June 2014
M€%

Deviation
M€

28,893100

27,200100

1,693-24,859-86-22,758-84-2,101

4,034

14

4,442

16

-408

Selling, administrative and other expenses-1,392-5-1,371-5-21

Research and development
expenses-1,506-5-1,564-5

58

Other income

272

1

164

1

108

Share of profit from investments
under the equity method and otherincome from investments

802

3

148

0

654

2,210

8

1,819

7

391

Interest income

85

0

79

0

6

Interest expense

-274

-1

-268

-1

-6

Cost of sales
Gross margin

Profit before finance result
and income taxes

55

Other financial result

-155

-1

-63

0

-92

Finance result

6

-344

-2

-252

-1

-92

Income taxes

7

-335

-1

-426

-2

91

1,531

5

1,141

4

390

1,524

5

1,135

4

389

7

0

6

0

1

Profit for the period
Attributable to:Equity owners of the parent(Net income)Non-controlling interests

€

€

€

Basic

1.94

1.45

0.49

Diluted

1.94

1.45

0.49

Earnings per share

8

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

5

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Income Statements for the second
quarter of 2015 and 2014
1 April 30 June 2015
M€%

1 April 30 June 2014
M€%

Deviation
M€

Revenues

16,815100

14,552100

2,263

Cost of sales-14,489-86-12,089-83-2,400Gross margin

2,326

14

2,463

17

-137

Selling, administrative and other expenses

-761

-5

-705

-5

-56

Research and development
expenses

-805

-5

-837

-5

32

Other income

145

1

112

1

33

Share of profit from investments
under the equity method and otherincome from investments

73

0

77

0

-4

Profit before finance result
and income taxes

978

5

1,110

8

-132

Interest income

45

0

43

0

2

Interest expense

-128

-1

-138

-1

10

Other financial result

105

1

-50

0

155

Finance result

22

0

-145

-1

167

Income taxes

-264

-1

-260

-2

-4

Profit for the period

736

4

705

5

31

Equity owners of the parent(Net income)

732

4

696

5

36

Non-controlling interests

4

0

9

0

-5

Attributable to:

€

€

€

Basic

0.93

0.89

0.04

Diluted

0.93

0.89

0.04

Earnings per share

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

6

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Statements of Comprehensive
Incomein M €
Profit for the period

1 January 30 June 2015

1 January 30 June 2014

1,531

1,141

563

-450

Items that will not be reclassified to profit or loss:
Actuarial gains or losses on defined benefit plans
Actuarial gains or losses on defined benefit plans for investments
accounted for using the equity method-77

3

Tax on items that will not be reclassified to profit or loss

-178

131

Items that will be reclassified to profit or loss:
Foreign currency translation differences for foreign operations

147

-14

-4,022-324

Net change in fair value of available-for-sale financial assets

336

-30

Changes in other comprehensive income frominvestments accounted for using the equity method

-129

-27

Tax on items that will be reclassified to profit or loss

1,237

91

Other comprehensive income, net of tax-2,123-620

Total comprehensive income of the period

-592

521

Equity owners of the parent

-577

513

Non-controlling interests-15

8

Net change in fair value of cash flow hedges

Attributable to:

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

7

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Statements of Comprehensive
Income for the second quarter 2015 and 2014
in M €
Profit for the period

1 April 30 June 2015

1 April 30 June 2014

736

705

1,059

-457

Items that will not be reclassified to profit or loss:
Actuarial gains or losses on defined benefit plans
Actuarial gains or losses on defined benefit plans for investments
accounted for using the equity method
Tax on items that will not be reclassified to profit or loss

-1

-2

-341

133

Items that will be reclassified to profit or loss:
Foreign currency translation differences for foreign operations

-188

22

Net change in fair value of cash flow hedges

3,839

-362

Net change in fair value of available-for-sale financial assets

20

34

Changes in other comprehensive income frominvestments accounted for using the equity method

-18

-14

Tax on items that will be reclassified to profit or loss

-1,19699

Other comprehensive income, net of tax

3,174

-547

Total comprehensive income of the period

3,910

158

3,906

147

4

11

Attributable to:Equity owners of the parent
Non-controlling interests

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

8

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Statements of Financial Position
Note
AssetsNon-current assets
Intangible assets
Property, plant and equipment
Investments accounted under the equity method
Other investments and long-term financial assets
Non-current other financial assets
Non-current other assets
Deferred tax assets
Non-current securities
Current assets
Inventories
Trade receivables
Current portion of other long-term
financial assets
Current other financial assets
Current other assets
Current tax assets
Current securities
Cash and cash equivalents
Assets and disposal group assets
classified as held for sale
Total assets

30 June 2015
M€
%

13
16
1
2
1
2
8
8
51

12,75816,388
3,391
1,769
586
1,822
5,717
5,989
48,420

13
17
4
2
1
2
6
6
51

-98
378
-2,279
502
430
559
2,021
2,685
4,198

-1
2
-67
28
73
31
35
45
9

12

29,5986,342

29
625,355
6,798

26
7

4,243
-456

17
-7

11
13
14

179
1,356
2,737
433
2,596
5,572
48,813

0
1
3
0
3
5
47

167
1,164
2,389
605
3,183
7,271
46,932

0
1
2
1
3
8
48

12
192
348
-172
-587
-1,699
1,881

7
16
15
-28
-18
-23
4

1,714
103,1452
100

750
96,102

1
100

964
7,043

129
7

788
8,547
-3,615
-8
5,712
3
5,715

1
8
-3
0
6
0
6

785
7,489
-1,205
-8
7,061
18
7,079

1
7
-1
0
7
0
7

3
1,058
-2,4100-1,349-15-1,364

0
14
200
0
-19
-83
-19

18
19
20
21
7

10,254
6,689
13,453
13,947
2,198
46,541

10
6
13
14
2
45

10,4006,278
9,922
13,1161,130
40,846

11
7
10
14
1
43

-146
411
3,531
831
1,068
5,695

-1
7
36
6
95
14

18
19

4,762
1,717
11,643538
5,084
26,94850,692

4
2
11
1
5
26
49

5,712
1,073
10,183738
3,480
26,31147,497

6
1
11
1
4
26
49

-950
644
1,460
-200
1,604
637
3,195

-17
60
14
-27
46
2
7

197
97,430103,145

0
94
100

680
89,023
96,102

1
93
100

-483
8,407
7,043

9
7

15
22

16

17

Disposal group liabilities
classified as held for sale
Total liabilities
Total equity and liabilities%

12,66016,766
1,112
2,271
1,016
2,381
7,738
8,674
52,618Non-controlling interests

Current liabilities
Current provisions
Short-term financing liabilities
Trade liabilities
Current tax liabilities
Other current financial liabilities
Other current liabilities

Deviation
M€

9
9
10
11
13
14
7
15

Total equity (1)Equity attributable to equity owners of the parent
Capital stockReserves
Accumulated other comprehensive income
Treasury shares

Liabilities
Non-current liabilities
Non-current provisions
Long-term financing liabilities
Non-current other financial liabilities
Non-current other liabilities
Deferred tax liabilities

31 December 2014
M€
%

20
21

16

(1) As of 30 June 2015, the accumulated other comprehensive income in equity relating to non-current assets and disposalgroup classified as held for sale amounts to -357 M €.
The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.
9

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Statements of Cash Flows
1 January 30 June 2015

1 January 30 June 2014

1,524

1,135

7

6

Depreciation and amortization

1,085

954

Valuation adjustments

524

370

Deferred tax expense

169

283

in M €

Note

Profit for the period attributable to equity owners of the parent (Net income)
Profit for the period attributable to non-controlling interests
Adjustments to reconcile profit for the period to cash (used for) operating activities

Change in income tax assets, income tax liabilities and provisions for income tax

-41

40

Results on disposals of non-current assets

-122

-88

Results of companies accounted for by the equity method

-743

-116

Change in current and non-current provisions

-361

-20

Reimbursement from / contribution to plan assets-87-2,101-336-4,024-146-1,796

Change in other operating assets and liabilities
Cash (used for) operating activities

22

Investment activities- Purchases of intangible assets, PPE-1,000-1,056- Proceeds from disposals of intangible assets, PPE

12

125

- Acquisitions of subsidiaries and joint ventures (net of cash)-60- Proceeds from disposals of subsidiaries (net of cash)

-3

-25

- Payments for investments in associates and otherinvestments and long-term financial assets

-155

-72

- Proceeds from disposals of associates and otherinvestments and long-term financial assets

1,630

135

- Dividends paid by companies valued at equity

24

78

Disposal of assets, liabilities and disposal group classified as held for sale116

0Change in securities-2,052-396-1,434-1,211

Financing activities
Change in long-term and short-term financing liabilities

574

2,404

Cash distribution to Airbus Group SE shareholders

Cash (used for) investing activities

22

-945

-587

Dividends paid to non-controlling interests

0-1

Changes in capital and non-controlling interests

96

29

Change in treasury shares

0

109

-275

1,954

Net (decrease) of cash and cash equivalents

179-1,67635-1,018Cash and cash equivalents at beginning of period (1)

7,289

7,201

Cash and cash equivalents at end of period

5,613

6,183

Thereof presented as cash and cash equivalents

5,572

6,145

41

38

Cash (used for) provided by financing activities

22

Effect of foreign exchange rate changes on cash and cash equivalents

Thereof presented as part of disposal groups classified as held for sale(1) The cash and cash equivalents at the beginning of the period 2015 include 18 M €, which is presented as part of assets ofdisposal groups classified as held for sale.
The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

10

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Unaudited Condensed IFRS Consolidated Statements of Changes in Equity
Equityattributable
to equity ownersof the parent

Non-controllinginterests

10,86442

Total
10,906

Profit for the period

1,135

6

1,141

Other comprehensive income

-622

2

-620

Total comprehensive income
Cash distribution to shareholders/ dividends
to non-controlling interests
Capital increase

513

8

521

-587

-1

-588

29

0

29

Change in treasury shares

109

0

109

1

0

1

Balance at 30 June 2014

10,92949

10,978

Balance at 1 January 2015

7,061

18

7,079

Profit for the period

1,524

7

1,531

Other comprehensive income-2,101-22-2,123

-577

-15

-592

-945

0

-945

96

0

96

Equity transactions

51

0

51

Share-based payment (IFRS 2)

26

0

26

5,712

3

5,715

in M €
Balance at 1 January 2014

OthersTotal comprehensive income
Cash distribution to shareholders/ dividends
to non-controlling interests
Capital increase

Balance at 30 June 2015

The accompanying notes are an integral part of these Unaudited Condensed Interim IFRS Consolidated Financial Statements.

11

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Notes to the Unaudited Condensed IFRS Consolidated Financial Statements as
at 30 June 2015
1. The Company
The accompanying Unaudited Condensed IFRS Consolidated Financial Statements present the operations ofAirbus Group SE (formerly Airbus Group N.V.) and its subsidiaries (the “Group”) legally seated in Amsterdam(current registered office at Mendelweg 30, 2333 CS Leiden, The Netherlands), and are prepared and reported inEuros (“€”). On 28 May 2015, the legal form of the Group has changed from a Dutch public limited liability
company (N.V.) to a European company (SE). The Group’s core business is the manufacturing of commercial
aircraft, civil and military helicopters, commercial space launch vehicles, missiles, military aircraft, satellites,
defence systems and defence electronics and rendering of services related to these activities. The Unaudited
Condensed IFRS Consolidated Financial Statements for the six-month period ended 30 June 2015 wereauthorized for issue by the Airbus Group Board of Directors on 30 July 2015.

2. Accounting policies
The Unaudited Condensed Interim Consolidated Financial Statements have been prepared in accordance with
International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board(“IASB”) as endorsed by the European Union (EU) as at 30 June 2015 and Part 9 of Book 2 of the Netherlands
Civil Code.
These Unaudited Condensed Interim Consolidated Financial Statements are prepared in compliance with IAS 34
and should be read in conjunction with Airbus Group’s Consolidated Financial Statements as of 31 December
2014. Except for the amended Standards to be applied for the first time as of 1 January 2015, Airbus Group’s
accounting policies and techniques are unchanged compared to 31 December 2014.
Financial reporting rules applied for the first time as of 1 January 2015
The following new interpretation issued by the IASB was applied for the first time in 2015 and is effective for
Airbus Group as of 1 January 2015. The first application has not had a material impact on Airbus Group’s
Consolidated Financial Statements or on its basic and diluted earnings per share.
IFRIC 21 - This interpretation sets out the accounting treatment for an obligation to pay a levy that is not income
tax. The interpretation addresses the obligating event that gives rise to payment of such a levy and when theassociated liability should be recognised.
Use of estimates and judgment
In preparing the Unaudited Condensed Interim Consolidated Financial Statements, management makes
assumptions and estimates. The underlying assumptions used for the main estimates are similar to thosedescribed in the Group’s Consolidated Financial Statements as of 31 December 2014. These estimates arerevised if the underlying circumstances have evolved or in light of new information.

12

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

3. Acquisitions and disposals
There were no material acquisitions during the first half-year 2015.
Airbus Safran Launchers Joint Venture
On 14 January 2015, Airbus Group and Safran completed the first phase of the integration process of the Airbus
Safran Launchers Joint Venture (ASL) enabling the entity to become operational. Coordination and programmemanagement of the civil activities of the launcher business as well as relevant participations have beentransferred to the Joint Venture during this first phase.
Airbus Group received 50% of issued shares in ASL recognised at 56 M € as at-equity investment. The loss ofcontrol in the business resulted in a capital gain of 49 M €.
During the second phase, Safran and Airbus Group intend to integrate within the joint venture all the remaining
contracts, assets and industrial resources, related to space launchers and associated propulsion systems. This
phase will be initiated and implemented once the Ariane 6 development contract will be awarded to the joint
venture and all legal and financial terms and conditions will be finalized between both partners. The joint venture
will then be fully equipped for all design, development, production and commercial activities related to civil andmilitary launchers and associated propulsion systems.
On 16 June 2015, ASL, the French state and CNES, the French space agency, have reached an agreement totransfer CNES's stake in Arianespace to ASL. The transaction will be finalized after regulatory consultation,
approval procedures and the award of Ariane 6 contract to the joint venture.
Disposal groups and assets classified as held for sale
The following assets or groups of assets are classified as held for sale (see Note 16 “Assets and disposal groups
classified as held for sale”).
Dassault Aviation
On 25 March 2015, Airbus Group sold 1,612,407 Dassault Aviation shares, corresponding to 17.5% of thecompany’s share capital, of which 460,688 shares (5%) were sold to Dassault Aviation for 980 € per share and1,151,719 shares (12.5%) were sold to institutional investors at 1,030 € per share. On 14 April 2015, Airbus
Group sold an additional 115,172 shares (1.25%) to institutional investors at 1,030 € per share. After thistransaction, Airbus Group held 23.36% of Dassault Aviation’s share capital and 24.71% of associated voting
rights.
As of 31 March 2015, the remaining equity investment in Dassault Aviation has been classified as an asset held
for sale, as Airbus Group intends to pursue market opportunities to sell the remainder of this investment.
In the first six months of 2015, Airbus Group has recognised 748 M € (697 M € in share of profit from investment
and 51 M € in other income) representing the net capital gain on partial disposal after transaction costs.
Business communications entities
On 4 June 2015, DS Holding SAS (France) and Astrium International Holdings B.V. (as beneficiaries) and apotential buyer (as promisor) signed a put option agreement whereby Airbus is entitled but not obliged to sell all
the companies which are within its business line “communications”. The sale is subject to closing conditions. The
put option will expire on 4 December 2015.

13

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Elbe Flugzeugwerke
On 17 June 2015, Airbus signed an agreement with Singapore-based ST Aerospace Ltd. (STA) to offer
passenger-to-freighter (P2F) conversion solutions for its A320 and A321 aircraft. STA will acquire an additional
20% of the shares of Elbe Flugzeugwerke (EFW), Dresden (Germany) by way of a contribution in kind and acapital increase to EFW. Consequently, 45% of the shares of EFW will be retained and the Group will effectively
lose its control.

4. Segment information
The Group operates in three reportable segments which reflect the internal organizational and management
structure according to the nature of the products and services provided.


Airbus — Development, manufacturing, marketing and sale of commercial jet aircraft of more than 100
seats; aircraft conversion and related services; development, manufacturing, marketing and sale of regional
turboprop aircraft and aircraft components.

Airbus Helicopters — Development, manufacturing, marketing and sale of civil and military helicopters;
provision of helicopter related services.



Airbus Defence and Space — Military combat aircraft and training aircraft; provision of defence electronics
and of global security market solutions such as integrated systems for global border security and securecommunication solutions and logistics; training, testing, engineering and other related services;development, manufacturing, marketing and sale of missile systems; development, manufacturing,marketing and sale of satellites, orbital infrastructures and launchers; provision of space related services;development, manufacturing, marketing and sale of military transport aircraft and special mission aircraft
and related services.

The following table presents information with respect to the Group’s business segments. As a rule, inter-segment
transfers are carried out on an arm’s length basis. Inter-segment sales predominantly take place between Airbus
and Airbus Defence and Space and between Airbus Helicopters and Airbus. The Group’s activities managed in
the US, the holding function of the Group’s Headquarters such as the acquired bank and other activities notallocable to the reportable segments, combined together with consolidation effects, are disclosed in the column“Others/ HQ / Conso.”.

14

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Business segment information for the six-month period ended 30 June 2015:

in M €

AirbusAirbusHelicopters

Total revenues

21,0812,950

Internal revenues
Revenues
Research anddevelopment expenses
EBIT pre-goodwill imp.
and exceptionals (1)Impairment anddisposal of goodwill
Exceptionals
Profit before financeresult and income taxes(1)AirbusDefenceand Space
5,531

Total
Others/segments HQ/ Conso.
29,562123

Consolidated
29,685

-385

-295

-111

-791

-1

-792

20,696

2,655

5,420

28,771122

28,893-1,148-153-159-1,460-46-1,506

1,424

162

-26

1,560

669

2,229

0

0

0

0

0

0

-12

0

-6

-18

-1

-19

1,412

162

-32

1,542

668

2,210

Finance result-344

Income taxes-335

Profit for the period

1,531(1) Impacts on specific transactions (see Note 3 “Acquisitions and disposals”) are included in segments Airbus (EFW), Airbus
Defence and Space (Business communications entities) and “Others/ HQ/ Conso.” (Dassault Aviation).

Business segment information for the six-month period ended 30 June 2014:

in M €

AirbusAirbusHelicopters

Total revenues

19,4292,801Internal revenues

AirbusDefenceand Space
5,516

Total
Others/segments HQ/ Conso.
27,746232

Consolidated
27,978

-405

-234

-130

-769

-9

-778

Revenues

19,024

2,567

5,386

26,977223

27,200Research anddevelopment expenses-1,225-164-163-1,552-12-1,564

EBIT pre-goodwill imp.
and exceptionals

1,357

150

223

1,730

109

1,839

0

0

0

0

0

0

-12

0

-6

-18

-2

-20

1,345

150

217

1,712

107

1,819

Impairment anddisposal of goodwill
Exceptionals
Profit before financeresult and income taxes
Finance result-252

Income taxes-426

Profit for the period

1,141

15

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

5. Revenues, gross margin and profit before finance result and income taxes
Revenues of 28,893 M € (first half-year 2014: 27,200 M €) increased by +1,693 M €, mainly at Airbus(+1,672 M €), mostly driven by a favourable foreign exchange impact and a positive mix effect.
The gross margin decreased by -408 M € to 4,034 M € compared to 4,442 M € in the first half-year 2014, mainlyin Airbus Defence and Space due to the A400M programme and in Airbus due to negative foreign exchange
impact. The gross margin rate decreased from 16.3% to 14.0%.
The A350 XWB Entry into service occurred at the end of 2014, with the first A350 being delivered to Qatar
Airways on 22 December 2014. In the first half-year 2015, Airbus has delivered four additional aircraft. Despite
these important achievements, significant challenges remain. The industrial ramp-up preparation is underway andassociated risks will continue to be closely monitored in line with the schedule, aircraft performance and overall
cost envelope, as per customer’s commitment.
After an additional four aircraft were delivered in the first half-year 2015, resulting in cumulative deliveries offourteen at 30 June 2015, the A400M programme continues to be in a phase of progressive enhancement ofmilitary capabilities, with some delays being incurred. The sequence of progressive enhancements andassociated deliveries are under negotiation with the customers to reflect revised programme baseline and delivery
schedule, both impacted by the accident that occurred in May 2015.
In the second quarter of 2015, Management has reviewed the programme evolution driven to a large extent fromthe implications of the accident, the impact of low inflation on the price revision formula, delays in military
functionality and challenges in the industrial ramp-up, together with associated mitigation actions. As a result of
this review, Airbus Defence and Space has recorded an additional net charge of 290 M € for the period ended
30 June 2015.
The A400M SOC 1 and 1.5 milestones remain to be achieved. SOC 1 fell due end October 2013, and thetermination right related thereto became exercisable by OCCAR/Nations on 1 November 2014 after a 12-month
grace period. It has not at the date hereof been exercised. Management judges that it is highly unlikely that thistermination right will be exercised. SOC 1.5 with the related termination right fell due in January 2015 and is still in
the 12-month grace period. The sequence of progressive enhancements (including the achievement of therespective milestones) and the delivery plan are currently under negotiation with OCCAR/Nations.
The A400M programme remains in a critical phase and the associated risks will continue to be closely monitored.
The profit before finance result and income taxes increased by +391 M € to 2,210 M € compared to 1,819 M €in the first half-year 2014.
This increase is mainly related to the increase in share of profit from investments under the equity method
including a net gain of 674 M € (first half-year 2014: 67 M €) from the sale of Dassault Aviation shares (see Note 3“Acquisitions and disposals”) that occurred in the first quarter as well as the first quarter 2015 estimated result anda negative catch-up on 2014 of -119 M € related to the Dassault investment.
Additionally, other income includes a net gain of 51 M € from the sale of Dassault Aviation shares that occurredin the second quarter as well as the capital gain of 49 M € following the completion of the first phase of thecreation of Airbus Safran Launchers Joint Venture (see Note 3 “Acquisitions and disposals”).

6. Finance result
Finance result decreased by -92 M € to -344 M € compared to -252 M € in the first half-year 2014. This decreaseis mainly related to the negative impact of revaluation of financial instruments of -104 M € (first half-year 2014:-10 M €).

16

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

7. Income taxes
The income tax expense of -335 M € (first half-year 2014: -426 M €) corresponds to an effective income tax rateof 18% (first half-year 2014: 27%). The decrease in the effective tax rate is due to the sale of shares of Dassault
Aviation which has been taxed at a reduced rate (see Note 3 “Acquisitions and disposals”).
Deferred tax assets increased by +2,021 M € to 7,738 M € (prior year-end: 5,717 M €) mainly as a result ofvariations in the fair values of derivative financial instruments.

8. Earnings per share
Basic earnings per share are calculated by dividing profit for the period attributable to equity owners of theparent (Net income) by the weighted average number of issued ordinary shares during the period, excluding
ordinary shares purchased by the Group and held as treasury shares:

1 January 30 June 2015

1 January 30 June 2014

Net income attributable to equity owners of the parent

1,524 M €1,135 M €Weighted average number of ordinary shares outstanding

785,672,234

782,012,866

1.94 €

1.45 €

Basic earnings per share

For calculation of the diluted earnings per share, the weighted average number of ordinary shares is adjusted toassume conversion of all potential ordinary shares. The Group’s categories of dilutive potential ordinary shares
are stock options and share-settled performance units for Executive Committee members relating to long-term
incentive plans for 2010 to 2014. Since in the first six months 2015 the average price of Airbus Group shares
exceeded the exercise price of the stock option plan (SOP) 2005 and SOP 2006 as well as the share-settled
performance units (in 2014: the SOP 2004, SOP 2005 and SOP 2006), 750,301 potential shares (in the first six
months 2014: 1,767,867 shares) were considered in the calculation of diluted earnings per share.

Net income attributable to equity owners of the parent
Weighted average number of ordinary shares outstanding (diluted)
Diluted earnings per share

1 January 30 June 2015

1 January 30 June 2014

1,524 M €1,135 M €786,422,535

783,780,733

1.94 €

1.45 €

9. Intangible assets and property, plant and equipment
Intangible assets decreased by -98 M € to 12,660 M € (prior year-end: 12,758 M €). This mainly relates to Airbus(8,627 M €), Airbus Defence and Space (3,291 M €) and Airbus Helicopters (725 M €) and includes goodwill of
9,942 M € (prior year-end: 9,979 M €).
The annual impairment tests were performed in the fourth quarter 2014 and led to no impairment charge.
Property, plant and equipment increased by +378 M € to 16,766 M € (prior year-end: 16,388 M €) and includes
leased assets of 216 M € (prior year-end: 213 M €). The increase was mainly driven by the A350 XWB
programme. Property, plant and equipment also includes investment property amounting to 66 M €(prior year-end: 67 M €).

17

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

10. Investments accounted for under the equity method
Investments accounted for under the equity method of 1,112 M € (prior year-end: 3,391 M €) mainly include
the equity investment in Atlas Group and MBDA.
Aside from the partial sale of Dassault Aviation shares in the first half-year 2015, the remaining equity investment
in Dassault Aviation has been reclassified as asset held for sale (see Note 3 “Acquisitions and disposals”).

11. Other investments and long-term financial assets
Composition of other investments and other long-term financial assets:in M €

30 June 201531 December 2014

Other investments

1,220

617

Other long-term financial assets

1,230

1,319

Total

2,450

1,936

Thereof non-current portion

2,271

1,769

179

167

Thereof current portion
Other long-term financial assets mainly comprise the aircraft financing activities.

12. Inventories
Inventories of 29,598 M € (prior year-end: 25,355 M €) increased by +4,243 M €. This is related to Airbus(+3,141 M €), Airbus Defence and Space (+785 M €) and Airbus Helicopters (+306 M €). In Airbus, the increase isdue to work in progress and finished aircraft across all programmes and A350 ramp-up. In Airbus Defence andSpace, the increase is mainly driven by the increased activity on the A400M programme.
Inventories are presented net of the respective portion of the contract loss provision (see Note 18 “Provisions”).

13. Other financial assets
Composition of other financial assets:in M €

30 June 201531 December 2014

Positive fair values of derivative financial instruments

921

502

Others

95

84

1,016

586

Receivables from related companies

571

582

Positive fair values of derivative financial instruments

322

208

Non-current other financial assets

Total
Current other financial assets

Others
Total

18

463

374

1,356

1,164

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

14. Other assets
Composition of other assets:in M €

30 June 201531 December 2014

Prepaid expenses

2,819

2,090

VAT receivables

1,393

1,371

Other

906

750

Total

5,118

4,211

Thereof non-current portion

2,381

1,822

Thereof current portion

2,737

2,389

15. Securities
Non-current securities with a remaining maturity of more than one year increased by +2,685 M € to 8,674 M €(prior year-end: 5,989 M €). The movement is related to the cash management policy of the Group.
Current securities with a remaining maturity of one year or less decreased by -587 M € to 2,596 M €(prior year-end: 3,183 M €).

16. Assets and disposal groups classified as held for sale
The assets and disposal group assets held for sale of 1,714 M € (prior year-end: 750 M €) include mainly theremaining investment in Dassault Aviation of 1,253 M € (see Note 3 “Acquisitions and disposals”). The disposalgroup liabilities held for sale total 197 M € (prior year-end: 680 M €).
The assets and liabilities of the disposal groups classified as held for sale as of 31 December 2014 are mainly
related to the Airbus Safran Launchers Joint Venture first phase.

17. Total equity
Equity attributable to equity owners of the parent (including purchased treasury shares) amounts to
5,712 M € (prior year-end: 7,061 M €) representing a decrease of -1,349 M €. This decrease is due to a reduction
in other comprehensive income of -2,101 M € related mainly to the mark to market revaluation of the hedge
portfolio and a dividend payment of -945 M € (1.20 € per share). This was partly offset by net income of+1,524 M €.
The total number of shares issued is 787,579,306 and 784,780,585 as of 30 June 2015 and 31 December 2014
respectively. The Group’s shares are exclusively ordinary shares with a par value of 1.00 €.
During the first half-year 2015, the number of treasury stock held by Airbus Group remained almost stable at431,710 compared to 431,832 as of 31 December 2014. No shares were either sold back to the market, or
cancelled (in the first six months 2014: 56,993 shares cancelled).
In the first six months 2015, the Group issued 2,798,721 new shares due to the exercise of stock options and to
the 2015 Employee Stock Ownership Plan (“ESOP”) (in the first six months 2014: 995,248 new shares due to theexercise of stock options).
Non-controlling interests decreased to 3 M € (prior year-end: 18 M €). This decrease is mainly derived from themark to market revaluations of the hedge portfolio of -22 M €.

19

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 201518. Provisions
Provisions are comprised of the following:in M €

30 June 201531 December 2014

Provisions for pensions

8,014

8,250

Other provisions

7,002

7,862

Total

15,016

16,112

Thereof non-current portion

10,254

10,400

Thereof current portion

4,762

5,712

Among other effects, pension provisions decreased due to an increase of the discount rates for the various
pension schemes of the Group (France: 2.1% to 2.5%, Germany: 1.9% to 2.3% and UK: 3.6% to 3.8%).
The decrease in other provisions is mainly due to the net presentation on A350 XWB programme losses against
inventories (see Note 12 “Inventories”).
Included in other provisions are costs for the A380 programme related to in service technical issues identified andwith solutions defined, which reflects the latest facts and circumstances. Airbus is contractually liable for the repair
or replacement of the defective parts but not for any other damages whether direct, indirect, incidental orconsequential (including loss of revenue, profit or use). However, in view of overall commercial relationships,
contract adjustments may occur, and be considered on a case by case basis.

19. Financing liabilities
Composition of financing liabilities:

in M €

30 June 201531 December 2014

Bonds

3,966

3,917

Liabilities to financial institutions

1,980

1,751

Loans

402

424

Liabilities from finance leases

341

186

Long-term financing liabilities

6,689

6,278

Bonds

492

1

Liabilities to financial institutions

27

22

Loans

294

285

Liabilities from finance leases

12

12

Others

892

753

1,717

1,073

Short-term financing liabilities

The increase on the short-term bonds is mainly due to a new commercial paper programme of 550 M USD.

20

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

20. Other financial liabilities
Composition of other financial liabilities:

in M €

30 June 201531 December 2014

European Governments refundable advances

6,487

6,020

Liabilities for derivative financial instruments

6,345

3,271

621

631

13,4539,922

European Governments refundable advances

754

508

Liabilities for derivative financial instruments

3,601

2,232

729

740

5,084

3,480

Non current other financial liabilities

Others
Total
Current other financial liabilities

OthersTotal

The liabilities for derivative financial instruments have significantly increased as a direct result of the deteriorationof the USD/€ exchange rate associated with the Mark to Market valuation of the hedge portfolio.

21. Other liabilities
Composition of other liabilities:

in M €

30 June 201531 December 2014

Customer advance payments

35,36434,405

Tax liabilities (excluding income tax)

1,021

675

Others

3,149

2,991

Deferred income

1,361

1,356

Total

40,89539,427

Thereof non-current portion

13,947

13,116

Thereof current portion

26,94826,311Other liabilities

22. Cash flows
Cash used for operating activities improved by +1,650 M € to -146 M € (first half-year 2014: -1,796 M €). Gross
cash flow from operations (before changes in other operating assets and liabilities) of +1,955 M € decreased
compared to the prior period (first half-year 2014: +2,228 M €). Changes in other operating assets and liabilities
amount to -2,101 M € (first half-year 2014: -4,024 M €) mainly due to an increase in inventories partly
compensated by higher trade liabilities and advance payments received.
Cash used for investing activities amounts to -1,434 M € (first half-year 2014: -1,211 M €). This mainlycomprises payments for investment in securities of -2,052 M € (first half-year 2014: -396 M €), and purchases ofintangible assets and property, plant and equipment of -1,000 M € (first half-year 2014: -1,056 M €). This waspartly compensated by the proceeds from disposals of associates and other investments and long-term financial
assets amounting to +1,630 M € (first half-year 2014: +135 M €) mainly due to the partial sale of Dassault Aviation
shares (see Note 3 “Acquisitions and disposals”).

21Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

Cash (used for) provided by financing activities decreased by -2,229 M € to -275 M € (first half-year 2014:+1,954 M €). This decrease comprises the dividend payment of 1.20 € per share which amounts to -945 M € (firsthalf-year 2014: -587 M €), in part offset by cash receipts from long-term and short-term financing activities of
574 M € (first half-year 2014: +2,404 M €).

23. Financial instruments
Composition of derivative financial instruments:

in M €

30 June 201531 December 2014

Non-current positive fair values

921

502

Current positive fair values

322

208

1,243

710

Non-current liabilities-6,345-3,271

Current liabilities-3,601-2,232

Total liabilities for derivative financial instruments-9,946-5,503

Total net fair value of derivative financial instruments-8,703-4,793

Total positive fair values of derivative financial instruments

The volume of hedged US dollar-contracts increased from 88 billion US dollar as at 31 December 2014
to 93 billion US dollar as at 30 June 2015. The US dollar spot rate is 1.12 USD/€ and 1.21 USD/€ at 30 June 2015
and at 31 December 2014, respectively. The average US dollar hedge rate for the hedge portfolio of the Groupdecreased to 1.30 USD/€ as at 30 June 2015 compared to 1.33 USD/€ as at 31 December 2014.
Carrying amounts and fair values
Fair values of financial instruments have been determined with reference to available market information at theend of the reporting period and the valuation methodologies as described in detail in Note 34 b) to the 2014
Consolidated Financial Statements. For the first six months 2015, Airbus Group has applied the same
methodologies for the fair value measurement of financial instruments.
Carrying amount is a reasonable approximation of fair value for all classes of financial instruments listed in thefirst table of Note 34 b) to the 2014 Consolidated Financial Statements, with the exception of:

30 June 2015

Financial Instruments

in M €

Book Value

Fair Value

Bonds-4,458-4,562

Liabilities to financial institutions and other financing liabilities-3,595-3,622Financing liabilities

31 December 2014

Financial Instruments

in M €

Book Value

Fair Value

Financing liabilities
Bonds-3,918-4,227

Liabilities to financial institutions and other financing liabilities-3,235-3,291

As explained in Note 34 b) to the 2014 Consolidated Financial Statements no fair value can be determined forcertain unlisted equity investments and European Governments refundable advances.

22

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

The following table allocates the financial assets and liabilities measured at fair value to the three levels of the fairvalue hierarchy(1):

30 June 2015
in M €

Level 1

Level 2

Level 3

Total

795

0

0

795

0

1,232

11

1,243

Securities

10,440830

011,270Cash equivalents

1,935

1,434

0

3,369

13,1703,496

1116,677

Derivative instruments

0-9,9460-9,946

Other liabilities

0

0

-84

-84

0

-9,946-84-10,030

Level 1

Level 2

Level 3

Total

208

0

0

208

0

708

2

710

Securities

7,784

1,388

0

9,172

Cash equivalents

3,563

1,442

0

5,005

11,555

3,538

2

15,095Derivative instruments

0-5,5030-5,503

Other liabilities

0

0

-137

-137

0

-5,503-137-5,640Financial assets measured at fair value
Equity Instruments
Derivative Instruments

Total
Financial liabilities measured at fair value

Total
31 December 2014
in M €
Financial assets measured at fair value
Equity Instruments
Derivative Instruments

Total
Financial liabilities measured at fair value

Total(1) The fair value hierarchy consists of the following levels:- Level 1: quoted prices (unadjusted) in active markets for identical assets and liabilities;- Level 2: inputs other than quoted prices that are observable for the asset or liability, either directly (i.e. as prices) orindirectly (i.e. derived from prices); and- Level 3: inputs for the asset or liability that are not based on observable market data.

23

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

The development of financial instruments of Level 3 is as follows:
Total gains or losses in

Financial assets and liabilities on Level 3
Financial assets
Derivative instruments
Commodity swap agreements

Balance at
1 January 2015

Profit or
loss

2

Other
comprehensive Settleincome ments

Balance at
30 June 2015

10

0

-1

11

Total
Financial liabilities
Other liabilities
Written put options on non-controlling interests
Earn-out agreements

2

10

0

-1

11

-127
-10

-1
0

51
0

3
0

-74
-10

Total

-137

-1

51

3

-84

Other
comprehensive Settleincome ments

Balance at
30 June 2014

Total gains or losses in

Financial assets and liabilities on Level 3
Financial assets
Derivative instruments
Commodity swap agreements
Other derivative instruments
Total
Financial liabilities
Other liabilities
Written put options on non-controlling interests
Earn-out agreements
Total

Balance at
1 January 2014

Profit or
loss

26
8
34

4
0
4

0
0
0

-17
0
-17

13
8
21

-129
-51
-180

-1
25
24

0
0
0

0
0
0

-130
-26
-156

For a description of the valuation techniques, inputs and process used in the fair value measurement of thesefinancial instruments and a description of sensitivity analysis performed refer to Note 34 b) of the Consolidated
Financial Statements. There is no material difference between the outcome of sensitivity analysis performed
at 30 June 2015, and that disclosed in the year-end financial statements.

24. Related party transactions
The Group has entered into various transactions with related entities that have all been carried out in the normal
course of business.
The Group participates in the UK in several funded trustee-administered pension plans. In some of these, BAE
Systems is the principal employer. Discussions with BAE Systems on the future allocation of the deficit are
ongoing.
A portion of the shares held in Dassault Aviation were disposed of during the first half-year 2015 (see Note 3“Acquisitions and disposals”).

24Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

25. Litigation and claims
Airbus Group is involved from time to time in various legal and arbitration proceedings in the ordinary course of its
business, the most significant of which are described below. Other than as described below, Airbus Group is notaware of any material governmental, legal or arbitration proceedings (including any such proceedings which are
pending or threatened), during a period covering at least the previous twelve months which may have, or have
had in the recent past significant effects on Airbus Group SE’s or the Group’s financial position or profitability.
If the Group concludes that the disclosures relative to contingent liabilities can be expected to prejudice seriously
its position in a dispute with other parties, the Group limits its disclosures to the nature of the dispute.
WTO
Although Airbus Group is not a party, Airbus Group is supporting the European Commission in litigation before the
WTO. Following its unilateral withdrawal from the 1992 EU-US Agreement on Trade in Large Civil Aircraft, the US
lodged a request on 6 October 2004 to initiate proceedings before the WTO. On the same day, the EU launched aparallel WTO case against the US in relation to its subsidies to Boeing. On 19 December 2014, the European
Union requested WTO consultations on the extension until the end of 2040 of subsidies originally granted by theState of Washington to Boeing and other US aerospace firms until 2024.
On 1 June 2011, the WTO adopted the Appellate Body’s final report in the case brought by the US assessing
funding to Airbus from European governments. On 1 December 2011, the EU informed the WTO that it had taken
appropriate steps to bring its measures fully into conformity with its WTO obligations, and to comply with the
WTO’s recommendations and rulings. Because the US did not agree, the matter is now under WTO panel review
pursuant to WTO rules.
On 23 March 2012, the WTO adopted the Appellate Body’s final report in the case brought by the EU assessing
funding to Boeing from the US. On 23 September 2012, the US informed the WTO that it had taken appropriate
steps to bring its measures fully into conformity with its WTO obligations, and to comply with the WTO’s
recommendations and rulings. Because the EU did not agree, the matter is now under WTO panel review
pursuant to WTO rules.
Exact timing of further steps in the WTO litigation process is subject to further rulings and to negotiations between
the US and the EU. Unless a settlement, which is currently not under discussion, is reached between the parties,
the litigation is expected to continue for several years.
Securities litigation
Following the dismissal of charges brought by the French Autorité des marchés financiers (AMF) for alleged
breaches of market regulations and insider trading rules with respect primarily to the A380 delays announced in
2006, a French investigating judge decided in November 2013 to send the case to trial (renvoi devant le tribunal
correctionnel) against 7 current and former executives that exercised their stock options in March 2006 as well as
two former shareholders. On 3 October 2014 the criminal court suspended the case on the merits and decided torequest a preliminary ruling (question prioritaire de constitutionnalité) from the French Supreme Court on theconstitutionality of the French dual prosecution system (AMF and judicial proceedings). On 18 March 2015, theConseil Constitutionnel declared relevant provisions of the French Financial and Monetary Code unconstitutionaland ruled that the constitutional rights of the defendants had been violated by being charged with the criminal
offense of insider trading after the same defendants had already been cleared by a final decision of the Sanctions
Committee of the AMF in 2009 involving the same facts. The Paris criminal court issued a judgment on 18 May
2015 dismissing the charges against all defendants, thereby bringing an end to all securities litigation.

25

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

GPT
Promptedbyawhistleblower’s

allegations,AirbusGroup

conducted

internal

auditsandretained

PricewaterhouseCoopers (“PwC”) to conduct an independent review relating to GPT Special Project Management
Ltd. (“GPT”), a subsidiary that Airbus Group acquired in 2007. The allegations called into question a service
contract entered into by GPT prior to its acquisition by Airbus Group, relating to activities conducted by GPT in
Saudi Arabia. PwC’s report was provided by Airbus Group to the UK Serious Fraud Office (the “SFO”) in
March 2012. In the period under review and based on the work it undertook, nothing came to PwC’s attention tosuggest that improper payments were made by GPT. In August 2012, the SFO announced that it had opened aformal criminal investigation into the matter. Airbus Group is cooperating fully with the authorities.
Eurofighter Austria
In March 2012, the German public prosecutor, following a request for assistance by the Austrian publicprosecutor, launched a criminal investigation into alleged bribery, tax evasion and breach of trust by current andformer employees of EADS Deutschland GmbH (renamed on 1 July 2014 Airbus Defence and Space GmbH) andEurofighter Jagdflugzeug GmbH as well as by third parties relating to the sale of Eurofighter aircraft to Austria in
2003. After having been informed on the investigation in 2012, Airbus Group retained law firm Clifford Chance toconduct a fact finding independent review. Upon concluding its review, Clifford Chance presented its fact finding
report to Airbus Group in December 2013. Airbus Group provided the report to the public prosecutors inGermany. Airbus Group is cooperating fully with the authorities.
Other investigations
Following the publication of investigations by the Romanian authorities relating to the border surveillance projectin Romania in mid-October 2014 Airbus Group confirms that Airbus Defence and Space GmbH has been
informed that also the German prosecution office investigates with respect to potential irregularities in relation tothis project, a project in Saudi Arabia and a project of Tesat-Spacecom GmbH & Co. KG.
Public prosecutors in Greece and Germany launched investigations into a current employee and former officers
and employees of Atlas Elektronik GmbH, a joint company of ThyssenKrupp and Airbus Group, on suspicion ofbribing foreign officials and tax evasion. The public prosecutor in Germany has launched an administrative
proceeding for alleged organisational and supervisory shortfalls. The authorities in Greece have launched civil
claims against Atlas Elektronik GmbH. With the support of its shareholders, the company is cooperating fully withthe authorities and in consultation with the public prosecutor is assisting the further clarification of the matter
through its own internal investigation.
Commercial disputes
In May 2013, the Group has been notified of a commercial dispute following the decision taken by the Group tocease a partnership for sales support activities in some local markets abroad. The Group believes it has solid
grounds to legally object to the alleged breach of a commercial agreement. However, the consequences of thisdispute and the outcome of the proceedings cannot be fully assessed at this stage. The arbitration is not expected
to be completed before the end of 2016.
In the course of another commercial dispute, the Group received a statement of claim alleging liability forrefunding part of the purchase price of a large contract which the customer claims it was not obliged to pay. The
Group believes that this claim, which goes back many years, should be dismissed in principle. The dispute iscurrently the subject of arbitration.
In July 2013, the Group became the subject of a commercial dispute following the expiry of a partnership study forwinglet devices with a US supplier. The Group believes it has solid grounds to legally object to the alleged breachof a commercial non-disclosure agreement. However, the outcome and consequences of this dispute cannot be
assessed at this stage.

26

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the six-month period ended 30 June 2015

26. Number of employees
The number of employees as at 30 June 2015 is 137,217 as compared to 138,622 as at 31 December 2014.

27. Subsequent events
Bond issuanceOn 26 June 2015, the Group placed a 500 M € issue of convertible bonds due 2022, settlement of which occurredon 1 July 2015. The bonds bear a coupon of 0% and were issued at 102% of par. Their effective interest rate,
after separation of the equity conversion option, is 1.386%.

27

REVIEW REPORT
To: the Board of Directors of Airbus Group SE

Introduction
We have reviewed the accompanying condensed consolidated interim financial information as at June 30,
2015 of Airbus Group SE, Amsterdam, which comprises the condensed consolidated statement offinancial position as at June 30, 2015, the condensed consolidated statements of income, comprehensive
income, changes in equity, and cash flows for the period of six months ended June 30, 2015, and thenotes. The Board of Directors of the Company is responsible for the preparation and presentation of thiscondensed consolidated interim financial information in accordance with IAS 34 ‘Interim Financial
Reporting’ as adopted by the European Union. Our responsibility is to express a conclusion on thisinterim financial information based on our review.

Scope
We conducted our review in accordance with Dutch law including standard 2410, ‘Review of Interim
Financial Information Performed by the Independent Auditor of the Entity’. A review of interim financial
information consists of making inquiries, primarily of persons responsible for financial and accounting
matters, and applying analytical and other review procedures. A review is substantially less in scope thanan audit conducted in accordance with auditing standards and consequently does not enable us to obtainassurance that we would become aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying
condensed consolidated interim financial information as at June 30, 2015 is not prepared, in all material
respects, in accordance with IAS 34 ‘Interim Financial Reporting’ as adopted by the European Union.

Amstelveen, July 30, 2015
KPMG Accountants N.V.