Unaudited Condensed Interim IFRS Consolidated
Financial Information of Airbus Group SE
for the nine-month period ended 30 September 2015
Unaudited Condensed IFRS Consolidated Income Statements ........................................................................ 2
Unaudited Condensed IFRS Consolidated Income Statements for the third quarter of 2015 and 2014 ........ 3
Unaudited Condensed IFRS Consolidated Statements of Comprehensive Income ........................................ 4
Unaudited Condensed IFRS Consolidated Statements of Comprehensive Income for the third quarter 2015
and 2014 ................................................................................................................................................................. 5
Unaudited Condensed IFRS Consolidated Statements of Financial Position.................................................. 6
Unaudited Condensed IFRS Consolidated Statements of Cash Flows ............................................................ 7
Unaudited Condensed IFRS Consolidated Statements of Changes in Equity ................................................. 8
Notes to the Unaudited Condensed IFRS Consolidated Financial Statements as at 30 September 2015 ..... 91.

The Company ........................................................................................................................................... 92.

Accounting policies ................................................................................................................................ 93.

Acquisitions and disposals .................................................................................................................. 10

4.

Segment information............................................................................................................................. 11

5.

Revenues, gross margin and profit before finance result and income taxes .................................. 13

6.

Finance result ........................................................................................................................................ 13

7.

Income taxes .......................................................................................................................................... 14

8.

Earnings per share ................................................................................................................................ 14

9.

Intangible assets and property, plant and equipment........................................................................ 14

10.

Investments accounted for under the equity method ........................................................................ 15

11.

Other investments and long-term financial assets............................................................................. 15

12.

Inventories ............................................................................................................................................. 15

13.

Other financial assets ........................................................................................................................... 15

14.

Other assets ........................................................................................................................................... 16

15.

Securities ............................................................................................................................................... 16

16.

Assets and disposal groups classified as held for sale .................................................................... 16

17.

Total equity ............................................................................................................................................ 16

18.

Provisions .............................................................................................................................................. 17

19.

Financing liabilities ............................................................................................................................... 17

20.

Other financial liabilities ....................................................................................................................... 18

21.

Other liabilities....................................................................................................................................... 18

22.

Cash flows ............................................................................................................................................. 18

23.

Financial instruments ........................................................................................................................... 19

24.

Related party transactions ................................................................................................................... 21

25.

Litigation and claims ............................................................................................................................. 22

26.

Number of employees ........................................................................................................................... 23

27.

Subsequent events................................................................................................................................ 23

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

Unaudited Condensed IFRS Consolidated Income Statements

Note
Revenues

1 January 30 September 2015
M€%

5

1 January 30 September 2014
M€%

DeviationM€

42,965100

40,497100

2,468-36,942-86-34,099-84-2,843

6,023

14

6,398

16

-375

Selling, administrative and other expenses-2,019-5-2,012-5-7

Research and development
expenses-2,287-5-2,376-6

89

Other income

296

1

235

0

61

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

909

2

304

1

605

2,922

7

2,549

6

373

Interest income

131

0

117

0

14

Interest expense

-429

-1

-395

-1

-34

Cost of sales
Gross margin

Profit before finance result
and income taxes

55

Other financial result

-238

-1

-334

-1

96

Finance result

6

-536

-2

-612

-2

76

Income taxes

7

-484

-1

-529

-1

45

1,902

4

1,408

3

494

1,900

4

1,399

3

501

2

0

9

0

-7

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

€

€

€

Basic

2.42

1.79

0.63

Diluted

2.41

1.78

0.63

Earnings per share

8

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

2

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

Unaudited Condensed IFRS Consolidated Income Statements for the third
quarter of 2015 and 2014
1 July 30 September 2015%
M€

1 July 30 September 2014
M€%

Deviation
M€

Revenues

14,072100

13,297

100

775

Cost of sales-12,083-86-11,341-85-742

Gross margin

1,989

14

1,956

15

33

Selling, administrative and other expenses

-627

-4

-641

-5

14

Research and development
expenses

-781

-6

-812

-6

31

Other income

24

0

71

1

-47

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

107

1

156

1

-49

Profit before finance result
and income taxes

712

5

730

6

-18

Interest income

46

0

38

0

8

Interest expense

-155

-1

-127

-1

-28

Other financial result

-83

0

-271

-2

188

Finance result

-192

-1

-360

-3

168

Income taxes

-149

-1

-103

-1

-46

Profit for the period

371

3

267

2

104

Equity owners of the parent(Net income)

376

3

264

2

112

Non-controlling interests

-5

0

3

0

-8

Attributable to:

€

€

€

Basic

0.48

0.34

0.14

Diluted

0.48

0.34

0.14

Earnings per share

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

3

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

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

1 January 30 September 2015

1 January 30 September 2014

1,902

1,408

519

-749

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

-63

-35

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

-169

229

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

163

170

-3,717-4,206

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

409

39

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

-145

-31

Tax on items that will be reclassified to profit or loss

1,124

1,302

Other comprehensive income, net of tax-1,879-3,28123-1,873Equity owners of the parent

45-1,873

Non-controlling interests-220

Net change in fair value of cash flow hedges

Total comprehensive income of the period
Attributable to:

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

4

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

Unaudited Condensed IFRS Consolidated Statements of Comprehensive
Income for the third quarter 2015 and 2014
1 July 30 September 2015

1 July 30 September 2014

371

267

Actuarial gains or losses on defined benefit plans

-44

-299

Actuarial gains or losses on defined benefit plans for investments
accounted for using the equity method

14

-38

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

998

in M €
Profit for the period
Items that will not be reclassified to profit or loss:

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

16

184

Net change in fair value of cash flow hedges

305-3,882

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

73

69

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

-16

-4

Tax on items that will be reclassified to profit or loss

-113

1,211

Other comprehensive income, net of tax

244-2,661

Total comprehensive income of the period

615-2,394Equity owners of the parent

622-2,386

Non-controlling interests-7-8

Attributable to:

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 nine-month period ended 30 September 2015

Unaudited Condensed IFRS Consolidated Statements of Financial Position
30 September 2015
M€%

31 December 2014
M€%

Deviation
M€

%

9
9
10
11
13
14
7
15

12,634
16,790
1,138
2,341
1,070
2,143
7,572
9,577
53,265

12
16
1
2
1
2
7
9
50

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

-124
402
-2,253
572
484
321
1,855
3,588
4,845

-1
2
-66
32
83
18
32
60
10

12

31,0116,490

29
625,355
6,798

26
7

5,656
-308

22
-5

11
13
14

172
1,349
2,785
531
1,850
5,810
49,998

0
1
3
1
2
6
48

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

0
1
2
1
3
8
48

5
185
396
-74
-1,333-1,461
3,066

3
16
17
-12
-42
-20
7

1,717
104,9802100

750
96,102

1
100

967
8,878

129
9

788
8,962
-3,348
-8
6,394
-7
6,387

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
1,473
-2,143
0
-667
-25
-692

0
20
178
0
-9
-139
-10

18
19
20
21
7

10,237
6,066
13,186
14,3742,307
46,170

10
6
13
13
2
44

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

11
7
10
14
1
43

-163
-212
3,264
1,258
1,177
5,324

-2
-3
33
10
104
13

18
19

4,841
3,373
11,416543
5,012
27,03552,220

5
3
11
0
5
26
50

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

6
1
11
1
4
26
49

-871
2,300
1,233
-195
1,532
724
4,723

-15
214
12
-26
44
3
10

203
98,593104,980

0
94
100

680
89,023
96,102

1
93
100

-477
9,570
8,878

-70
11
9

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

15
22

16

Total equity (1)Equity attributable to equity owners of the parent
Capital stockReserves
Accumulated other comprehensive income
Treasury shares
Non-controlling interests
17
Liabilities
Non-current liabilities
Non-current provisions
Long-term financing liabilities
Non-current other financial liabilities
Non-current other liabilities
Deferred tax liabilities
Current liabilities
Current provisions
Short-term financing liabilities
Trade liabilities
Current tax liabilities
Current other financial liabilities
Current other liabilities
Disposal group liabilities
classified as held for sale
Total liabilities
Total equity and liabilities

20
21

16

(1) As of 30 September 2015, the accumulated other comprehensive income in equity relating to non-current assets anddisposal group classified as held for sale amounts to -354 M €.
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 nine-month period ended 30 September 2015

Unaudited Condensed IFRS Consolidated Statements of Cash Flowsin M €

Note

Profit for the period attributable to equity owners of the parent (Net income)
Profit for the period attributable to non-controlling interests

1 January 30 September 2015

1 January 30 September 2014

1,900

1,399

2

9

Adjustments to reconcile profit for the period to cash (used for) operating activities
Depreciation and amortization

1,652

1,468

Valuation adjustments

548

345

Deferred tax expense

327

325

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

-142

4

Results on disposals of non-current assets

-130

-97

Results of companies accounted for by the equity method

-844

-257

Change in current and non-current provisions

-170

85

Reimbursement from / contribution to plan assets-99-3,302-349-4,168-258-1,236

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

22

Investment activities- Purchases of intangible assets, PPE-1,663-1,639- Proceeds from disposals of intangible assets, PPE

28

168

- Acquisitions of subsidiaries and joint ventures (net of cash)

-13

-47

- Proceeds from disposals of subsidiaries (net of cash)

-3

-34

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

-166

-30

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

1,734

117

- Dividends paid by companies valued at equity

27

136

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

0-2,209-160-2,149

-1,489Financing activities
Change in long-term and short-term financing liabilities

1,649

900

Cash distribution to Airbus Group SE shareholders

Change in securities
Cash (used for) investing activities

22

-945

-587

Dividends paid to non-controlling interests-2-1

Changes in capital and non-controlling interests

153

47

0

102

855

461

Net (decrease) of cash and cash equivalents

113-1,439219-2,045

Cash and cash equivalents at beginning of period (1)

7,289

7,201

Cash and cash equivalents at end of period

5,850

5,156

Thereof presented as cash and cash equivalents

5,810

5,156

40

0

Change in treasury shares
Cash 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.

7

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

Unaudited Condensed IFRS Consolidated Statements of Changes in Equity

in M €
Balance at 1 January 2014

Equityattributable
to equity ownersof the parent

Non-controllinginterests

10,86442

Total
10,906

Profit for the period

1,399

9

1,408

Other comprehensive income-3,272-9-3,281

Total comprehensive income
Cash distribution to shareholders/ dividends
to non-controlling interests
Capital increase-1,8730-1,873

-587

-1

-588

47

0

47

102

0

102

-4

-37

-41

Balance at 30 September 2014

8,549

4

8,553

Balance at 1 January 2015

7,061

18

7,079

Profit for the period

1,900

2

1,902

Other comprehensive income-1,855-24-1,879

45

-22

23

-945

-3

-948

153

0

153

51

0

51

Change in treasury shares
OthersTotal comprehensive income
Cash distribution to shareholders/ dividends
to non-controlling interests
Capital increase
Equity transactions
Share-based payment (IFRS 2)

29

0

29

Balance at 30 September 2015

6,394

-7

6,387

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 nine-month period ended 30 September 2015

Notes to the Unaudited Condensed IFRS Consolidated Financial Statements as
at 30 September 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 nine-month period ended 30 September 2015 wereauthorized for issue by the Airbus Group Board of Directors on 29 October 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 September 2015 and Part 9 of Book 2 of theNetherlands 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 interpretation 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.

9

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

3. Acquisitions and disposals
There were no material acquisitions during the first nine months 2015.
Airbus Safran Launchers Joint Venture (ASL)
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 lossof control 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.
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. On 12 August 2015, ASL was awarded the Ariane 6 development
contract by the European Space Agency.
The second phase will be initiated and implemented once all legal and financial terms and conditions are finalized
between both partners. The joint venture will then be fully equipped for all design, development, production andcommercial activities related to civil and military launchers and associated propulsion systems.
Elektroniksystem und Logistik GmbH (ESG)
On 20 August 2015 Airbus Defence and Space GmbH, Rohde & Schwarz GmbH und Co. KG, Thales Electronic
Systems GmbH and Northrop Grumman Litef GmbH have sold their shares in Elektroniksystem und Logistik
GmbH (ESG) to E-Sicherheitsbeteiligungen GmbH. Airbus Group has recognized a 59 M € gain in share of profit
from investments.
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 nine 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.

10Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the nine-month period ended 30 September 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 over EFW.

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.”.

11

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

Business segment information for the nine-month period ended 30 September 2015:

in M €

AirbusAirbusHelicopters

Total revenues

31,1194,423

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
8,383

Total
Others/segments HQ/ Conso.
43,925203

Consolidated
44,128

-562

-446

-151

-1,159-4-1,16330,557

3,977

8,232

42,766

199

42,965-1,732-221-245-2,198-89-2,287

1,902

241

149

2,292

654

2,946

0

0

0

0

0

0

-13

0

-9

-22

-2

-24

1,889

241

140

2,270

652

2,922

Finance result-536

Income taxes-484

Profit for the period

1,902(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 ESG) and “Others/ HQ/ Conso.” (Dassault Aviation).

Business segment information for the nine-month period ended 30 September 2014:

in M €

AirbusAirbusHelicopters

Total revenues

28,8204,260Internal revenues

AirbusDefenceand Space
8,197

Total
Others/segments HQ/ Conso.
41,277349

Consolidated
41,626

-587

-337

-191

-1,115-14-1,129

Revenues

28,233

3,923

8,006

40,162335

40,497

Research anddevelopment expenses-1,869-230-249-2,348-28-2,376

EBIT pre-goodwill imp.
and exceptionals

1,773

241

370

2,384

199

2,583

0

0

-5

-5

0

-5

-19

0

-9

-28

-1

-29

1,754

241

356

2,351

198

2,549

Impairment anddisposal of goodwill
Exceptionals
Profit before financeresult and income taxes
Finance result-612

Income taxes-529

Profit for the period

1,408

12

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

5. Revenues, gross margin and profit before finance result and income taxes
Revenues of 42,965 M € (first nine months 2014: 40,497 M €) increased by +2,468 M €, mainly at Airbus(+2,299 M €), mostly driven by a favourable foreign exchange impact and a positive mix effect.
The gross margin decreased by -375 M € to 6,023 M € compared to 6,398 M € in the first nine months 2014. It
includes the net charge on the A400M programme in Airbus Defence and Space recorded in the second quarterof 2015 and a negative foreign exchange impact in Airbus. The gross margin rate decreased from 15.8% to14.0%.
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 nine months of 2015, Airbus has delivered five additional aircraft.
Despite these important achievements, significant challenges remain. The industrial ramp-up preparation isunderway and associated risks will continue to be closely monitored in line with the schedule, aircraft performanceand overall cost envelope, as per customer’s commitment.
An additional five A400M aircraft were delivered in the first nine months of 2015, resulting in fifteen cumulative
deliveries up to 30 September 2015. The enhancement of military capabilities has progressed and a detailed
mission capability roadmap has been presented to the customer to allow for delivery of the planned aircraft.
Management reviewed the programme evolution driven to a large extent from the implications of the accident, theimpact 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
recorded an additional net charge of 290 M € in the second quarter of 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 +373 M € to 2,922 M € compared to 2,549 M €in the first nine months 2014.
This is mainly related to the increase in share of profit from investments under the equity method including a
net gain of 674 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 and a 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 ASL (see Note 3 “Acquisitions and disposals”).

6. Finance result
Finance result improved by +76 M € to -536 M € compared to -612 M € in the first nine months 2014. This ismainly related to a positive impact from foreign exchange valuation of monetary items of +113 M € (4 M €compared to -109 M € in the first nine months 2015 and 2014, respectively), partially offset by a negative impactof revaluation of financial instruments.

13

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

7. Income taxes
The income tax expense of -484 M € (first nine months 2014: -529 M €) corresponds to an effective income tax
rate of 20.3% (first nine months 2014: 27.3%). The decrease in the effective tax rate is due to the sale of sharesof Dassault Aviation which has been taxed at a reduced rate (see Note 3 “Acquisitions and disposals”).
Deferred tax assets increased by +1,855 M € to 7,572 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 September 2015

1 January 30 September 2014

Net income attributable to equity owners of the parent

1,900 M €1,399 M €Weighted average number of ordinary shares outstanding

786,189,743

782,546,682

2.42 €

1.79 €

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 nine months 2015 the average price of Airbus Group shares
exceeded the exercise price of the stock option plans (SOP) 2005 and 2006 (in 2014: SOP 2004, 2005 and2006), as well as the share-settled performance units. 669,128 potential shares (in the first nine months 2014:
1,350,682 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)

1 January 30 September 2015

1 January 30 September 2014

1,900 M €1,399 M €786,858,871

783,897,364

2.41 €

1.78 €

Diluted earnings per share

9. Intangible assets and property, plant and equipment
Intangible assets decreased by -124 M € to 12,634 M € (prior year-end: 12,758 M €) mainly at Airbus Defence
and Space (-127 M €) mostly due to the reclassification of Business communications entities to assets held forsale (see Note 3 “Acquisitions and disposals”).
Intangible assets mainly relate to Airbus (8,650 M €), Airbus Defence and Space (3,249 M €) and Airbus
Helicopters (719 M €) and include goodwill of 9,917 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 +402 M € to 16,790 M € (prior year-end: 16,388 M €) and includes
leased assets of 307 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 67 M €(prior year-end: 67 M €).

14

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

10. Investments accounted for under the equity method
Investments accounted for under the equity method of 1,138 M € (prior year-end: 3,391 M €) mainly include
the equity investment in Atlas Group and MBDA.
Following the partial sale of Dassault Aviation shares, 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 September 201531 December 2014

Other investments

1,307

617

Other long-term financial assets

1,206

1,319

Total

2,513

1,936

Thereof non-current portion

2,341

1,769

172

167

Thereof current portion

Other long-term financial assets mainly comprise the Group’s aircraft financing activities.

12. Inventories
Inventories of 31,011 M € (prior year-end: 25,355 M €) increased by +5,656 M €. This is related to Airbus(+3,864 M €), Airbus Defence and Space (+1,502 M €) and Airbus Helicopters (+285 M €). In Airbus, the increaseis due to work in progress and finished aircraft across all programmes and A350 ramp-up. In Airbus Defence andSpace, this 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 September 201531 December 2014

Positive fair values of derivative financial instruments

977

502

Others

93

84

1,070

586

Receivables from related companies

474

582

Positive fair values of derivative financial instruments

326

208

Others

549

374

1,349

1,164

Non-current other financial assets

Total
Current other financial assets

Total

15

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

14. Other assets
Composition of other assets:

30 September 201531 December 2014

Prepaid expenses

2,591

2,090

VAT receivables

1,489

1,371

Other

848

750

Total

4,928

4,211

Thereof non-current portion

2,143

1,822

Thereof current portion

2,785

2,389

in M €

15. Securities
Non-current securities with a remaining maturity of more than one year increased by +3,588 M € to 9,577 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 -1,333 M € to 1,850 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 1,717 M € (prior year-end: 750 M €) mainly include theremaining investment in Dassault Aviation of 1,253 M €. The disposal group liabilities held for sale total
203 M € (prior year-end: 680 M €). For further details, please see Note 3 “Acquisitions and disposals”.
The assets and liabilities of the disposal groups classified as held for sale as of 31 December 2014 weremainly related to the ASL first phase.

17. Total equity
Equity attributable to equity owners of the parent (including purchased treasury shares) amounts to
6,394 M € (prior year-end: 7,061 M €) representing a decrease of -667 M €. This decrease is due to a reduction inother comprehensive income of -1,855 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 a net income of +1,900 M €.
The total number of shares issued is 787,730,114 and 784,780,585 as of 30 September 2015 and 31 December
2014 respectively. The Group’s shares are exclusively ordinary shares with a par value of 1.00 €.
During the first nine months 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 nine months 2014: 56,993 shares cancelled).
In the first nine months 2015, the Group issued 2,949,529 new shares due to the exercise of stock options and to
the 2015 Employee Stock Ownership Plan (“ESOP”) (in the first nine months 2014: 1,698,798 new shares due tothe exercise of stock options).
Non-controlling interests decreased to -7 M € (prior year-end: 18 M €). This decrease is mainly derived from themark to market revaluations of the hedge portfolio of -23 M €.

16

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

30 September 201531 December 2014

Provisions for pensions

7,924

8,250

Other provisions

7,154

7,862

Total

15,078

16,112

Thereof non-current portion

10,237

10,400

Thereof current portion

4,841

5,712

Among other effects, provisions for pensions decreased due to an increase in the discount rates for the various
pension schemes of the Group (France: 2.1% to 2.6%, Germany: 1.9% to 2.4% 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 September 201531 December 2014

Bonds

3,412

3,917

Liabilities to financial institutions

1,883

1,751

Loans

380

424

Liabilities from finance leases

348

186

Others430Long-term financing liabilities

6,066

6,278

Bonds

2,248

1

Liabilities to financial institutions

25

22

Loans

282

285

Liabilities from finance leases

12

12

Others

806

753

3,373

1,073

Short-term financing liabilities

The decrease in long-term financing liabilities is mainly due to a reclassification between long-term and shortterm bonds, partly offset by the issue of convertible bonds for 500 M € on 1 July 2015, with a 7 year-maturity. The
bonds bear a coupon of 0% and were issued at 102% of par. Their effective interest rate, after separation of theequity conversion option, is 1.386%.
The increase in short-term financing liabilities is mainly due to the above reclassification and new commercial
paper programmes totalling 1,247 M €.

17

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

20. Other financial liabilities
Composition of other financial liabilities:

30 September 201531 December 2014

European Governments refundable advances

6,454

6,020

Liabilities for derivative financial instruments

6,133

3,271

in M €
Non current other financial liabilities

599

631

13,186

9,922

European Governments refundable advances

763

508

Liabilities for derivative financial instruments

3,498

2,232

751

740

5,012

3,480

Others
Total
Current other financial liabilities

OthersTotal

The liabilities for derivative financial instruments have increased significantly as a result of the deterioration of 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 September 201531 December 2014

36,072

34,405

828

675

3,061

2,991

Deferred income

1,448

1,356

Total

41,40939,427

Thereof non-current portion

14,374

13,116

Thereof current portion

27,03526,311Other liabilities
Customer advance payments
Tax liabilities (excluding income tax)
Others

22. Cash flows
Cash used for operating activities improved by +978 M € to -258 M € (first nine months 2014: -1,236 M €).
Gross cash flow from operations (before changes in other operating assets and liabilities) of +3,044 M €increased compared to the prior period (first nine months 2014: +2,932 M €). Changes in other operating assets
and liabilities amount to -3,302 M € (first nine months 2014: -4,168 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 -2,149 M € (first nine months 2014: -1,489 M €). This mainlycomprises payments for investment in securities of -2,209 M € (first nine months 2014: -160 M €), and purchasesof intangible assets and property, plant and equipment of -1,663 M € (first nine months 2014: -1,639 M €). Thiswas partly compensated by the proceeds from disposals of associates and other investments and long-term
financial assets amounting to +1,734 M € (first nine months 2014: +117 M €) mainly due to the partial sale ofDassault Aviation shares (see Note 3 “Acquisitions and disposals”).

18Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the nine-month period ended 30 September 2015

Cash provided by financing activities increased by +394 M € to +855 M € (first nine months 2014: +461 M €).
This increase comprises the cash receipts from long-term and short-term financing activities of +1,649 M € (firstnine months 2014: +900 M €), in part offset by a dividend payment of 1.20 € per share amounting to -945 M €(first nine months 2014: -587 M €).

23. Financial instruments
Composition of derivative financial instruments:

30 September 201531 December 2014

Non-current positive fair values

977

502

Current positive fair values

326

208

1,303

710

Non-current liabilities-6,133-3,271

Current liabilities-3,498-2,232

Total liabilities for derivative financial instruments-9,631-5,503

Total net fair value of derivative financial instruments-8,328-4,793in M €

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 98 billion US dollar as at 30 September 2015. The US dollar spot rate was 1.12 USD/€ and 1.21 USD/€ at
30 September 2015 and at 31 December 2014, respectively. The average US dollar hedge rate for the hedge
portfolio of the Group decreased to 1.29 USD/€ as at 30 September 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 nine 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 September 2015

Financial Instruments

in M €

Book Value

Fair Value

Bonds-5,660-5,894

Liabilities to financial institutions and other financing liabilities-3,419-3,439Financing liabilities

31 December 2014

Financial Instruments
Book Value

Fair Value

Bonds-3,918-4,227

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

in M €
Financing liabilities

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.

19

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

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

30 September 2015
in M €

Level 1

Level 2

Level 3

Total

864

0

0

864

0

1,292

11

1,303

Securities

11,239188

0

11,427

Cash equivalents

2,173

1,817

0

3,990

14,2763,297

11

17,5840-9,631

0-9,6310

Financial assets measured at fair value
Equity Instruments
Derivative Instruments

Total
Financial liabilities measured at fair value
Derivative instruments
Other liabilities

0

-84

-84

0

-9,631-84-9,715

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

-5,503-137-5,640Total
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.

20

Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the nine-month period ended 30 September 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

Other
Balance atcomprehensive Settle- 30 September
income ments
2015

2

16

0

-7

11

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

2

16

0

-7

11

-127
-10

-1
0

51
0

3
0

-74
-10

Total

-137

-1

51

3

-84

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

Other
Balance atcomprehensive Settle- 30 September
income ments
2014

Balance at
1 January 2014

Profit or
loss

26
8
34

6
0
6

0
0
0

-22
-8
-30

10
0
10

-129
-51
-180

-1
25
24

0
0
0

0
16
16

-130
-10
-140

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 September 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”).

21Airbus Group SE
Unaudited Condensed Interim IFRS Consolidated Financial Information
for the nine-month period ended 30 September 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.
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.

22

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

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. The public prosecutor in
Germany has launched administrative proceedings in the context of those investigations against Airbus Defence
and Space GmbH and 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 dispute has been settled on confidential terms and the dispute resolution
process terminated.

26. Number of employees
The number of employees as at 30 September 2015 is 137,488 as compared to 138,622 as at 31 December
2014.

27. Subsequent events
On 1 October 2015, Airbus sold its shares in its fully owned subsidiary CIMPA SAS to Sopra Steria Group. The
gain on this disposal amounts to 72 M €.
23