EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Year 2013 Report

Unaudited Condensed IFRS Consolidated
Financial Information of EADS N.V.
for the year ended 31 December 2013
Unaudited Condensed IFRS Consolidated Income Statements ………………………………......…2
Unaudited Condensed IFRS Consolidated Statements of Comprehensive Income……….……...3
Unaudited Condensed IFRS Consolidated Statements of Financial Position…………...……...…4
Unaudited Condensed IFRS Consolidated Statements of Cash Flows…………....………………..5
Unaudited Condensed IFRS Consolidated Statements of Changes in Equity..……………...........6
Explanatory notes to the Unaudited Condensed IFRS Consolidated Financial Statements
as at 31 December 2013……….………….…………….…………..……....…………..…......….............7
1. The Company…………………………………………………………………………………..…….7
2. Accounting policies……………….………………………………………………..…..……..........7
3. Acquisitions and other M&A transactions………...….……………………………………..…..9
4. Segment information………………………………..………………………………..…….....…..10
5. EBIT pre-goodwill impairment and exceptionals…..……..…………………………….…….13
6. Significant income statement items………….…………………..………….……………........13
7. Significant items of the statement of financial position…….……………………...…........14
8. Significant cash flow items……………………………………………………..…...…..……….17
9. Number of shares…...…………………………………….……………......................................17
10. Earnings per share……………………………………..……………….………...……...………..18
11. Related party transactions.………………..…………………...…….……………………..……18
12. Number of employees ……………………………….……………….……………..........………19
13. Litigation and claims …..…………………………….……………….……………..........………19
14. Subsequent events …..…………………………….……………….……………..........………...21

1

26.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Unaudited Condensed IFRS Consolidated Income Statements

1 January 31 December 2013
Revenues
Cost of sales *)Gross margin *)Selling, administrative & otherexpenses *)Research and development
expenses

1 January 31 December 2012

Deviation

M€
59,256-50,895
8,361

%
100
-86
14

M€
56,480-48,582
7,898

%
100
-86
14

M€
2,776
-2,313463-3,176-5-3,098-5-78-3,160-5-3,142

-5

-18

236

0

184

0

52

Other income
Share of profit from associates
under the equity method and otherincome from investments
Profit before finance result andincome taxes *)Interest income
Interest expense
Other financial result
Finance result
Income taxes *)Profit for the period *)

346

1

247

0

99

2,607
168
-497
-301
-630
-502
1,475

5
0
-1
-1
-1
-1
2

2,089
237
-522
-168
-453
-438
1,198

4
0
-1
0
-1
-1
2

518
-69
25
-133
-177
-64
277

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

1,465
10

2
0

1,197
1

2
0

268
9

Earnings per share
Basic *)
Diluted *)

€

€

€

1.85
1.84

1.46
1.46

0.39
0.38

*) Previous year’s figures are adjusted due to revised IAS 19.

2

26.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Unaudited Condensed IFRS Consolidated Statements of Comprehensive
Income1 January 31 December
2013

1 January 31 December
2012

1,475

1,198

-72

-987

using the equity method

4-85

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

20

335

Foreign currency translation differences for foreign operations

-146

-47

Net change in fair value of cash flow hedges

2,291

1,964

-19

189

-7

-126

Tax on items that will be reclassified to profit or loss

-711

-625

Other comprehensive income, net of tax *)

1,360

618

Total comprehensive income of the period

2,835

1,816

2,833
2
2,835

1,817
-1
1,816

in M €
Profit for the period*)
Items that will not be reclassified to profit or loss:
Actuarial losses on defined benefit plans*)
Actuarial losses on defined benefit plans from investments

Items that will be reclassified to profit or loss:

Net change in fair value of available-for-sale financial assets
Changes in other comprehensive income from investments accounted forusing the equity method

Attributable to:Equity owners of the parent
Non-controlling interests
Total comprehensive income of the period*) Previous year’s figures are adjusted due to revised IAS 19.

326.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Unaudited Condensed IFRS Consolidated Statements of Financial PositionNon-current assets
Intangible assets *)Property, plant and equipment
Investments in associates under theequity method
Other investments and long-term
financial assets
Other non-current assets
Deferred tax assets *)Non-current securities
Current assets
Inventories
Trade receivables *)Other current assets
Current securities
Cash and cash equivalents
Total assets
Total equity
Equity attributable to equity owners of
the parent
Capital stockReserves *)Accumulated other comprehensive
incomeTreasury shares
Non-controlling interests *)Non-current liabilities
Non-current provisions *)Long-term financing liabilities
Deferred tax liabilities *)Other non-current liabilities
Current liabilities
Current provisions *)Short-term financing liabilities
Trade liabilities *)Current tax liabilities
Other current liabilities *)Total liabilities
Total equity and liabilities

31 December 2013
M€%

31 December 2012
M€%

Deviation
M€%

13,653
15,92515
1713,42915,268

15
17

224
657

2
4

2,902

3

2,662

3

240

9

1,864

2

2,115

2

-251

-12

3,729
3,840
4,300
46,213

4
4
5
50

2,801
4,532
5,987
46,794

3
5
6
51

928
-692
-1,687
-581

33
-15
-28
-1

25,060
7,239
4,444
2,590
7,765
47,09893,311

27
7
5
3
8
50
100

23,216
6,788
4,239
2,328
8,756
45,327
92,121

25
7
4
3
10
49
100

1,844
451
205
262
-991
1,771
1,190

8
7
5
11
-11
4
1

783
7,349

1
8

827
8,147

1
8

-44
-798

-5
-10

2,929

3

1,513

2

1,416

94

-50
11,011
43
11,054

0
12
0
12

-84
10,40317
10,420

0
11
0
11

34
608
26
634

-40
6
153
6

10,046
3,956
1,487
18,18733,676

11
4
2
19
36

9,850
3,506
1,502
18,19433,052

11
4
2
19
36

196
450
-15
-7
624

2
13
-1
0
2

5,323
1,645
10,372616
30,62548,581
82,25793,311

5
2
11
1
33
52
88
100

6,039
1,273
9,921
458
30,95848,64981,701
92,121

7
1
11
0
34
53
89
100

-716
372
451
158
-333
-68
556
1,190

-12
29
5
34
-1
0
1
1

*) Previous year’s figures are adjusted due to revised IAS 19 and due to PPA adjustments of prior year’s acquisitions.

426.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Unaudited Condensed IFRS Consolidated Statements of Cash Flows
1 January 31 December 2013
M€
Profit for the period attributable to equity owners of the parent (Net income)*)1 January 31 December 2012
M€

1,465

1,197

10

1

Depreciation and amortization

1,968

2,053

Valuation adjustments*)

369

596

Deferred tax expense

32

40

Change in income tax assets, income tax liabilities and provisions for income tax-1

33

Profit for the period attributable to non-controlling interests
Adjustments to reconcile profit for the period to cash provided by operating activities

Results on disposals of non-current assets

-58

-21

Results of companies accounted for by the equity method

-295

-241

Change in current and non-current provisions*)

828

1,114

Reimbursement from / contribution to plan assets

-223

-856

Change in other operating assets and liabilities-2,164-76

Cash provided by operating activities

1,931

3,840

Investments:- Purchases of intangible assets, PPE-2,949-3,270- Proceeds from disposals of intangible assets, PPE

60

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

-16

-201

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

-292

-328

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

157

232

- Dividends paid by companies valued at equity

52

46

1,272

3,422

Change of securities
Change in cash from changes in consolidation-26

0Cash (used for) investing activities-1,742-26

Change in long-term and short-term financing liabilities

1,145

-125

Cash distribution to EADS N.V. shareholders

-467

-369

Dividends paid to non-controlling interests

-2

-10

Changes in capital and non-controlling interests

171

144

Change in treasury shares-1,915-5

Cash (used for) financing activities
Effect of foreign exchange rate changes and other valuation adjustments on cash
and cash equivalents-1,068

-365

-112

23

Net decrease of cash and cash equivalents

-991

3,472

Cash and cash equivalents at beginning of period

8,756

5,284

Cash and cash equivalents at end of period*) Previous year’s figures are adjusted due to revised IAS 19.

7,765

8,756

As of 31 December 2013, EADS’ cash position (stated as cash and cash equivalents in the Unaudited
Condensed IFRS Consolidated Statements of Cash Flows) includes 340 M € (374 M € as of 31

5

26.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

December 2012), which represents EADS’ share in MBDA’s cash and cash equivalents deposited atother shareholders. These funds are available for EADS upon demand.

Unaudited Condensed IFRS Consolidated Statements of Changes in Equity
in M €
Balance at 1 January 2012

Equityattributable to Non-controlling
equity owners ofinterests
the parent
8,850
15

Retrospective adjustment *)

total
8,865

-7

0

-7

Balance at 1 January 2012, adjusted

8,843

15

8,858

Profit for the period *)

1,197

1

1,198

621

-2

619

1,818

-1

1,817

-369

-10

-379

Other comprehensive income *)Total comprehensive income
Cash distribution to shareholders/ dividends to noncontrolling interests
Capital increase

144

0

144

Equity transactions (IAS 27)

-46

14

-32

Change in treasury shares

-5

0

-5

Others18

725

10,40325

10,4280-8-8Balance at 31 December 2012

10,40317

10,420

Profit for the period

1,465

10

1,475

Other comprehensive income

1,368

-8

1,360

Total comprehensive income
Cash distribution to shareholders/ dividends to noncontrolling interests
Capital decrease

2,833

2

2,835

-467

-2

-469

-74

0

-74

Capital increase

242

2

244

Equity transactions (IAS 27)

-118

24

-94

Change in treasury shares

Balance at 31 December 2012
Retrospective adjustment *)-1,9150-1,915

Share-based payment (IFRS 2)

107

0

107

Balance at 31 December 2013

11,011

43

11,054*) Previous year’s figures are adjusted due to revised IAS 19 and due to PPA adjustments of prior year’s acquisitions.

6

26.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Explanatory notes to the Unaudited Condensed IFRS Consolidated Financial
Statements as at 31 December 2013
1. The Company
The accompanying Unaudited Condensed IFRS Consolidated Financial Statements present theoperations of European Aeronautic Defence and Space Company EADS N.V. and its
subsidiaries (the “Group”), a Dutch public limited liability company (Naamloze Vennootschap)
legally seated in Amsterdam (current registered office at Mendelweg 30, 2333 CS Leiden, The
Netherlands), and are prepared and reported in Euros (“€”). On 2 January 2014, the Group has
been rebranded to Airbus Group as part of a wider reorganization including integration of theGroup’s space and defence activities with associated restructuring measures. EADS’ corebusiness 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 year ended 31 December 2013 were authorized for issue
by EADS’ Board of Directors on 25 February 2014.

2. Accounting policies
These Unaudited Condensed Consolidated Financial Statements have been prepared inaccordance with International Financial Reporting Standards (“IFRS”) issued by the International
Accounting Standards Board (“IASB”) as endorsed by the European Union (EU) as at 31
December 2013 and Part 9 of Book 2 of the Netherlands Civil Code.
a)

New, Revised or Amended Standards

The application of the following amended standards is mandatory for EADS for the fiscal year
starting 1 January 2013. If not otherwise stated, the following amended standards did not have amaterial impact on EADS’s Consolidated Financial Statements as well as its basic and diluted
earnings per share.
In December 2010, the IASB issued amendments to IAS 12 “Income Taxes” providing practicalguidance for the measurement of deferred tax relating to an asset by introducing the presumptionthat recovery of the carrying amount of that asset will normally be through sale. Respective
amendments supersede SIC 21 “Income Taxes – Recovery of Revalued Non Depreciable Assets”.
The amendments were endorsed in December 2012 and are applicable for annual periods
beginning 1 January 2013.
In June 2011, the IASB issued an amended version of IAS 19 “Employee Benefits” (endorsed
June 2012). The amendment eliminates both the option of deferred recognition of actuarial gains
and losses (known as the “corridor method”) and the option of immediately recognising them in
profit or loss, to improve comparability of financial statements. Under the amendment, fullrecognition of actuarial gains and losses directly in equity becomes mandatory. EADS alreadyapplied this method of accounting for actuarial gains and losses. Furthermore, the revised
standard introduces a net interest approach, under which for defined benefit obligation and plan
assets the same interest rate is applied, and it requires past service costs to be fully recognized in
the period of the related plan amendment. The amended standard also changes the requirements
for termination benefits and includes enhanced presentation and disclosure requirements. For
EADS, the standard becomes applicable for annual periods beginning on 1 January 2013. It
requires retrospective application.

7

26.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

The introduction of a single net interest component, i.e. the interest expense (income) resulting
from multiplying the net defined benefit liability (asset) by the discount rate used to determine thedefined benefit obligation (“DBO”), impacts EADS Consolidated Financial Statements as there are
no longer different rates applicable for plan assets and DBOs. In addition, retrospectively applying
the requirement to recognise past service cost fully in the period of the plan amendment requires
recognition of unamortised past service cost at the date of transition. Finally, the amended
guidance on termination benefits henceforth require EADS to recognise the additional
compensation
payableundercertainGermanearly
retirement
programmes(‘Altersteilzeitprogramme’) rateably over the active service period of such programmes (asopposed to recognising the additional compensation at its present value at programme inception).
Applying the amended standard retrospectively in 2013, EADS’ consolidated opening net equity(retained earnings) as of 1 January 2011 has been adjusted by -7 M €.
Comparative consolidated statement of income for 2012 (and 2011) has been restated leading to
an impact for 2012 of -42 M € (for 2011 of -72 M €) on profit before finance result and income
taxes and for 2012 of -31 M € (for 2011 of -53 M €) on profit for the period. The impact on earnings
per share for 2012 amounts to -0.04 € on basic and diluted earnings per share (for 2011 -0.06 € on
basic and -0.07 € on diluted earnings per share). If the Group had not applied IAS 19R beginning 1
January 2013, EADS’ profit before finance costs and income taxes would have increased byaround +75 M €, while basic and diluted earnings per share would have had a positive impact ofapproximately +0.08 € in 2013.
Regarding past service costs, the initial application of the revised standard in 2013 has no
significant effect on EADS Consolidated Net income. The retrospective adjustments in the opening
balance sheet as of 1 January 2011 results in an increase of pension liabilities of 45 M € and adecrease of retained earnings of 29 M €.
Regarding German early retirement programmes, the initial application of the revised standard in2013 has no significant effect on EADS Consolidated Net income. The retrospective adjustmentsin the opening balance sheet as of 1 January 2011 result in a decrease of provisions of 34 M €and an increase of retained earnings of 23 M €.
Amendments to IAS 1 “Presentation of Items of Other Comprehensive Income”, which were
issued in June 2011, require separate presentation of items of other comprehensive income thatare reclassified subsequently to profit or loss (recyclable) and those that are not reclassified to
profit or loss (non-recyclable). The amended standard became effective for financial periods
beginning on or after 1 July 2012. The amendments were endorsed in June 2012.
In May 2011, the IASB issued IFRS 13 “Fair Value Measurement” (endorsed in December 2012).
IFRS 13 defines fair value, sets out in a single IFRS a framework for measuring fair value andrequires disclosures about fair value measurements. IFRS 13 seeks to reduce complexity andimprove consistency in the application of fair value measurement principles. The new standard
defines fair value as an exit price, i.e. as the price that would be received to sell an asset or paid totransfer a liability in an orderly transaction between market participants at measurement date. It
further establishes a three level fair value hierarchy regarding the inputs used for fair value
determination. IFRS 13 has been applied prospectively from 1 January 2013. The Group did not
make a significant revision of its valuation methods that are deemed consistent with IFRS 13
guidance; credit and debit value adjustments had been incorporated in the valuation of derivative
financial instruments prior to the application of IFRS 13. Accordingly, the initial application of IFRS
13 did not have a material impact on EADS Consolidated Financial Statements.

826.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

In December 2011, the IASB issued amendments to IFRS 7 “Financial Instruments: Disclosures”(endorsed in December 2012) expanding disclosure requirements for financial assets and liabilities
that are set off in the statement of financial position or subject to netting agreements. EADS
provides the disclosure required by the amendments retrospectively for all periods presented.
The IASB issued various amendments to IFRS Standards within the Annual Improvements 20092011 Cycle, which have become applicable as of 1 January 2013. The amendments refer to IFRS
1, IAS 1, IAS 16, IAS 32 and IAS 34.
b) New or Amended Interpretations
There are no new or amended interpretations which became effective for the financial period
beginning after 31 December 2012.
c)

New, revised or amended IFRS Standards and Interpretations issued but not yet applied

A number of new or revised standards, amendments and improvements to standards as well asinterpretations are not yet effective for the year ended 31 December 2013 and have not been
applied in preparing these Consolidated Financial Statements. The potential impacts from theapplication of those newly issued standards, amendments and interpretations are currently underinvestigation:
IFRS 9 “Financial Instruments” (not yet endorsed);
IFRS 10 “Consolidated Financial Statements”, IFRS 11 “Joint Arrangements”, IFRS 12“Disclosure of Interests in Other Entities” and consequential amendments to IAS 27“Separate Financial Statements” and IAS 28 “Investments in Associates and Joint
Ventures”. All of the new or amended standards have been endorsed in December 2012;
Transition Guidance (Amendments for IFRS 10, IFRS 11 and IFRS 12) (endorsed in
April 2013);
Amendments to IAS 32 “Financial Instruments: Presentation” (endorsed in December2012);
Amendments to IAS 39 “Novation of Derivatives and Continuation of Hedge Accounting”(endorsed in December 2013);
Amendments to IAS 36 “Recoverable Amount Disclosures for Non-Financial Assets”(endorsed in December 2013)
IFRIC 21 “Levies” (not yet endorsed);
Amendments to IAS 19 “Employee Contributions” (not yet endorsed);
Annual Improvements 2010-2012 Cycle (not yet endorsed). The amendments refer to
IFRS 2, IFRS 3, IFRS 8, IFRS 13, IAS 16, IAS 24 and IAS 38; andAnnual Improvements 2011-2013 Cycle (not yet endorsed). The amendments refer to
IFRS 1, IFRS 3, IFRS 13 and IAS 40.

3. Acquisitions and other M&A transactions
For some M&A transactions recognized during 2012, EADS received new information about facts
and circumstances that existed at the respective acquisition dates of the companies concerned.
According to IFRS 3.45, comparative information is adjusted retrospectively.

926.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

The following individually insignificant M&A activities of EADS divisions were finalised during thebusiness year 2013 resulting in a total investment of 16 M € and a total goodwill of 13 M €. All
acquired companies contributed a total amount of 6 M € to EADS’ group revenues 2013. The
section does not necessarily provide a comprehensive list of all purchase transactions, which arein process and are not yet closed as at the balance sheet date.
On 31 January 2013, ST Aerospace Ltd., Singapore (Singapore) acquired a 35% non-controllinginterest in Elbe Flugzeugwerke, Dresden (Germany) (EFW). EADS as the former sole shareholder
retains 65% of the shares of EFW.
On 1 March 2013, Cassidian terminated its Joint Venture with Odebrecht Group by selling its 50%
share to Odebrecht Defesa e Tecnologia SA, Sao Paolo (Brazil).
On 17 May 2013, Cassidian Cybersecurity SAS, Elancourt (France) acquired a 83.9% controllinginterest in Arkoon Network Security SA, Lyon (France). On 14 June 2013 Cassidian Cybersecurity
SAS made a mandatory simplified public offering on the remaining shares of Arkoon Network
Security in line with General Regulations of the French Financial Market Authority (“AMF”). As aresult of the tender offer that ended 4 July 2013 Cassidian’s interest in Arkoon increased to 97.3%.
Subsequent squeeze-out procedure of remaining shareholders was finalized on 15 July 2013
leaving Cassidian as sole shareholder of Arkoon.
On 31 May 2013, Astrium Services GmbH, Ottobrunn (Germany) acquired remaining noncontrolling interest of 24.9% in ND Satcom GmbH, Immenstaad (Germany) from SES S.A.,
Betzdorf (Luxemburg).
On 16 December 2013, Airbus Group has entered into a Share Purchase Agreement with
Raiffeisenverband Salzburg to acquire 100% shares in Salzburg München Bank AG, a fullylicensed bank based in Munich with approximately €350 million total assets serving small andmedium enterprises and private clients. The acquisition of Salzburg München Bank aims toprovide additional financing options for the Group’s businesses and is subject to obtaining
regulatory approvals, i.e. the Ownership Control Procedures with the German Financial
Supervisory Authority (“BaFin”) and approval from the German competition authority (“BKartA”).
The transactions above are considered to have no material impact on EADS’ consolidated
financial statements.
4. Segment information
The Group operates in five reportable segments which reflect the internal organizational andmanagement structure according to the nature of the products and services provided.
Airbus Commercial — Development, manufacturing, marketing and sale of commercial jet
aircraft of more than 100 seats; aircraft conversion and related services. Additionally, thedevelopment, manufacturing, marketing and sale of regional turboprop aircraft - ATR group and aircraft components - Sogerma Group - are reclassified from “Other Businesses” and aremanaged by Airbus Commercial from 1 January 2013 onwards.
Airbus Military — Development, manufacturing, marketing and sale of military transport aircraft
and special mission aircraft and related services.
The reportable segments Airbus Commercial and Airbus Military form the Airbus Division .

1026.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Eurocopter — Development, manufacturing, marketing and sale of civil and military helicopters;
provision of helicopter related services.
Astrium — Development, manufacturing, marketing and sale of satellites, orbital infrastructuresand launchers; provision of space related services.
Cassidian — Development, manufacturing, marketing and sale of missiles systems, 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 securecommunications solutions and logistics; training, testing, engineering and other 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. After the reclassification of ATRgroup and Sogerma group to “Airbus Commercial”, “Other Businesses” comprises the Group’s
activities managed in the US. Combined together with consolidation effects, the holding function of
EADS Headquarters and other activities not allocable to the reportable segments, they aredisclosed in the column “Others/ HQ / Conso.”.

11

26.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

in M €

AirbusCommercial

AirbusMilitary

Eurocopter

Astrium

CassidianTotalsegments

Others/
HQ/
Conso.

Consolidated

Year ended 31 December 2013
Total revenues

39,889

2,893

6,297

5,784

5,976

60,839457

61,296

Internal revenues

-933

-251

-486

-24

-345

-2,039-1-2,04038,956

2,642

5,811

5,760

5,631

58,800456

59,256-2,438

-6

-306

-127

-248

-3,125-35-3,160

1,569

165

396

343

426

2,899

-292***)

2,607

1,595

166

397

347

432

2,937

-276***)

2,661

Revenues
Research anddevelopment
expensesProfit before financeresult and income
taxes
EBIT pre-goodwill
imp. and exceptionals(see definition below)
Finance result-630

Income taxes-502

Profit for the period

1,475Year ended 31 December 2012
Total revenues **)37,624

2,131

6,264

5,817

5,740

57,576639

58,215Internal revenues **)

-625

-279

-540

-23

-232

-1,699-36-1,735

Revenues **)36,999

1,852

5,724

5,794

5,508

55,877603

56,480Research anddevelopment
expenses **)-2,428

-11

-297

-128

-234

-3,098-44-3,142

Profit before financeresult and income
taxes *), **)

1,122

92

308

307

122

1,951

138

2,089

EBIT pre-goodwill
imp. and exceptionals(see definition below)*), **)

1,147

93

309

311

128

1,988

156

2,144

Finance result-453

Income taxes *)-438

Profit for the period

1,198*) Previous year’s figures are adjusted due to revised IAS 19.
**) Previous year’s figures are adjusted due to the inclusion of ATR group and Sogerma group into Airbus Commercial andthe remaining activities of ‘Other Businesses’ into ‘Others/ HQ/ Conso.’.
***) includes -292 M € expenses for restructuring provisions associated to the Group’s reorganisation mainly in the defence
and space business .

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

5. EBIT pre-goodwill impairment and exceptionals
EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic
performance. The term “exceptionals” refers to such items as depreciation expenses of fair value
adjustments relating to the EADS merger, the Airbus combination and the formation of MBDA, as
well as impairment charges thereon. It also comprises disposal impacts related to goodwill and fairvalue adjustments from these transactions. EBIT pre-goodwill impairment and exceptionals is
treated by management as a key indicator to measure the segments’ economic performances.
The reconciliation from profit before finance result and income taxes to EBIT pre-goodwill
impairment and exceptionals is set forth in the following table (in M €):1 January 31 December
2013

in M €
Profit before finance result and income taxes *)1 January 31 December
2012

2,607

2,089

Impairment and disposal of goodwill

15

17

Exceptional depreciation/ disposal (fixed assets in cost of sales)

39

38

2,661

2,144

Goodwill and exceptionals:

EBIT pre-goodwill impairment and exceptionals*)*) Previous year’s figures are adjusted due to revised IAS 19.

6. Significant income statement items
Revenues of 59,256 M € (2012: 56,480 M €) increase by +2,776 M €, mainly at Airbus
Commercial (+2,265 M €). All segments except for Astrium contributed positively to the increase ofrevenues.
The Gross margin increases by +463 M € to 8,361 M € compared to 7,898 M € (adjusted) in
2012. This improvement is mainly related to Airbus Commercial due to higher deliveries of the longrange and single aisle programs, better operational performance, an improvement at the A380 as
well as lower expenses for A380 wing rib provisioning and no-one off charges in Cassidian. The
improvement is partly compensated by higher A350 programme support cost, negative currency
one-offs at Airbus Commercial compared to 2012 and an update of the A350 loss making contract
provision (-434 M € net charge) to reflect mainly the higher level of recurring cost.
The A350 XWB Entry into service is scheduled for the end of 2014. Airbus continues to makesignificant progress on A350 XWB program. Since the first flight in June 2013, the entire flightprogramme envelope has been cleared and first tests of all major aircraft systems successfully
performed. Airbus is in the most critical phase of the A350 programme.
In 2013, Airbus commercial booked a net charge of 434 M€ on A350 Loss Making Contracts
reflecting a re-assessment of actual and estimated unit cost.
The industrial ramp up preparation is underway and associated risks will continue to be closely
monitored in line with the schedule, aircraft performance and overall cost envelope, as per
customers commitments.

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Based on an updated technical solution concept to fix permanently the retrofit of the A380 wing rib
issue, an additional amount of 85 M € was recognized for the repair costs on delivered aircraft thisyear. Contractually, Airbus Commercial is not liable versus airlines for loss of use, revenue or profit
or for any other direct, incidental or consequential damages related to wing ribs issue. However, inview of overall commercial relationships, contracts adjustments may occur, and be considered ona case by case basis.
Research and development expenses increase by -18 M € to -3,160 M € (2012: -3,142 M €)mainly reflecting an increase for the A350XWB partly compensated by a decrease for the A380.
Share of profit from associates under the equity method and other income frominvestments of 346 M € (2012: 247 M €) mainly consists of the share of the result of Dassault
Aviation of 247 M € (2012: 198 M €). The Dassault Aviation equity accounted-for income in 2013
includes a positive catch-up on 2012 results. Since for the second half-year 2013 no publishedfinancial information is yet available from Dassault Aviation at the date of authorization for issue of2013 financial statements, EADS uses a best estimate for the net income of Dassault Aviation.
Finance result amounts to -630 M € (2012: -453 M €) comprising interest result of -329 M €(2012: -285 M €). Other financial result amounts to -301 M € (2012: -168 M €) and mainly includes
the negative impact from foreign exchange valuation of monetary items (-64 M €, 2012: positive
impact: +41 M €) and the effects from the unwinding of discounted provisions (-171 M €, 2012: 180 M €).
The income tax expense of -502 M € (2012 adjusted: -438 M €) corresponds to an effective
income tax rate of 25% (2012: 27%).

7. Significant items of the statement of financial positionNon-current assets
Intangible assets of 13,653 M € (prior year-end adjusted: 13,429 M €) include 10,962 M € (prioryear-end adjusted: 11,017 M €) of goodwill. This mainly relates to Airbus Commercial (6,680 M €),Cassidian (2,720 M €), Astrium (1,235 M €) and Eurocopter (302 M €). The annual impairment
tests, which were performed in the fourth quarter, led to an impairment charge of 15 M € in Other
Businesses. Capitalization for development costs of the A350 XWB programme started in thesecond quarter 2012. In 2013, an amount of 354 M € has been capitalized resulting in a total
amount of 720 M €.
Property, plant and equipment increase by +657 M € to 15,925 M € (prior year-end: 15,268 M€), including leased assets of 422 M € (prior year-end: 576 M €). The increase is mainly driven by
the A350 programme. Property, plant and equipment also comprise “Investment property”
amounting to 69 M € (prior year-end: 72 M €).
Investments in associates under the equity method of 2,902 M € (prior year-end: 2,662 M €)mainly include the equity investment in Dassault Aviation. The equity investment in Dassault
Aviation includes an IFRS catch-up adjustment for income and other comprehensive income
relating to prior period. The 30 June 2013 equity components have been used to estimate the2013 year-end consolidated equity position of Dassault Aviation.
Other investments and other long-term financial assets of 1,864 M € (prior year-end:
2,115 M €) are related to Airbus for an amount of 1,083 M € (prior year-end: 1,288 M €), mainly
concerning the non-current portion of aircraft financing activities.

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Other non-current assets mainly comprise non-current derivative financial instruments and noncurrent prepaid expenses. The increase by +928 M € to 3,729 M € (prior year-end: 2,801 M €) ismainly caused by the positive variation of the non-current portion of fair values of derivative
financial instruments (+796 M €) and by higher prepaid expenses (+257 M €).
Deferred tax assets decrease by -692 M € to 3,840 M € (prior year-end adjusted: 4,532 M €)mainly in relation with the changes in fair value of financial instruments recorded in OCI.
The fair values of derivative financial instruments are included in other non-current assets(1,993 M €, prior year-end: 1,197 M €), in other current assets (717 M €, prior year-end: 321 M €),in other non-current liabilities (671 M €, prior year-end: 1,159 M €) and in other current liabilities(303 M €, prior year-end: 852 M €) which corresponds to a total net fair value of +1,736 M € (prioryear-end: -493 M €). The volume of hedged US dollar-contracts decreases from 83.6 billion US
dollar as at 31 December 2012 to 75.9 billion US dollar as at 31 December 2013. The US dollar
spot rate is 1.38 USD/ € at 31 December 2013 vs. 1.32 at 31 December 2012. The average US
dollar hedge rate for the hedge portfolio of the Group improves from 1.35 USD/ € as at 31
December 2012 to 1.34 USD/ € as at 31 December 2013.
Non-current securities with a remaining maturity of more than one year decrease by -1,687 M €to 4,300 M € (prior end: 5,987 M €). The movement is related to the cash management policy of
the Group.

Current assets
Inventories of 25,060 M € (prior year-end: 23,216 M €) increase by +1,844 M €. This is mainly
driven by higher unfinished goods and services at Airbus (+1,148 M €, net of the related portion ofprovisions mainly for the A400M and A350) and Eurocopter (+154 M €), higher advance payments
made at Airbus (+262 M €) as well as higher raw materials at Airbus (+158 M €) and Eurocopter(+74 M €).
Trade receivables increase by +451 M € to 7,239 M € (prior year-end adjusted: 6,788 M €),mainly caused by Airbus (+479 M €), partly offset by Cassidian (-50 M €).
Other current assets include “Current portion of other long-term financial assets”, “Current otherfinancial assets”, “Current other assets” and “Current tax assets”. The increase of +205 M € to
4,444 M € (prior year-end: 4,239 M €) comprises among others a positive variation of the current
portion of fair values of derivative financial instruments (+396 M €) and an increase of VAT
receivables (+150 M €), mostly offset by a decrease of receivables from related companies (-199
M €) and of prepaid expenses (-144 M €).
Current securities with a remaining maturity of one year or less correspond to 2,590 M € (prioryear-end: 2,328 M €) and increase by +262 M €. (Please refer to “non-current securities”).
Cash and cash equivalents decrease from 8,756 M € to 7,765 M € (see also note 8 “Significant
cash flow items”).

Total equity
Equity attributable to equity owners of the parent (including purchased treasury shares) amounts
to 11,011 M € (prior year-end adjusted: 10,403 M €). The increase is mainly due to a net income of+1,465 M € and other comprehensive income of +1,416 M €, partly compensated by purchase oftreasury shares of -1,915 M € following the implementation of the announced share buy-back15

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

programme and a cash distribution to shareholders of -467 M € (corresponding to 0.60 € pershare).
Non-controlling interests increase to 43 M € (prior year-end adjusted: 17 M €), mainly due to the
EFW transaction (please refer to note 3 “Acquisitions and other M&A transactions”).

Non-current liabilities
Non-current provisions of 10,046 M € (prior year-end adjusted: 9,850 M €) include the noncurrent portion of pension provisions which increases by +50 M € to 6,209 M € (prior year-end
adjusted: 6,159 M €).
Moreover, other provisions are included in non-current provisions, which increase by +146 M € to
3,837 M € (prior year-end adjusted: 3,691 M €). Included in the other provisions are additions for
restructuring measures defined for the Group’s Defence and Space business in order to improve
competitiveness by reducing costs, create synergies in the operations and product portfolio andbetter focus Research and Development efforts. Accordingly, a plan including temporary contract
termination, non-replacement of attrition, redeployment, partial and early retirement as well as
voluntary leaves in Germany, France, the UK and Spain has been communicated to the Group’s
employees and the European Works Council in December 2013. As a result the Group has
increased non-current and current restructuring provisions by 292 M € in total.
The provision for contract losses as part of other provisions mainly relates to AIRBUS Military inconjunction with the A400M and to the A350 programme in AIRBUS Commercial. 2013 provisionconsumption mainly reflects utilisation as the A400M launch contract progresses whilst theincrease to a large extent is due to an additional net charge of 434 M € recognised in the A350
programme to reflect mainly the higher level of recurring costs. After 2 deliveries in 2013, A400M
programme enters in progressive enhancement of military capability in a sequence to benegotiated and concluded with the customers. Risks related to cost envelope and military
functionalities are closely monitored.

Long-term financing liabilities, mainly comprising bonds and liabilities to financial institutions
increase by +450 M € to 3,956 M € (prior year-end: 3,506 M €). This increase is mainly due to theissuance of an inaugural 1 billion US dollar bond with a 10-year maturity placed on the U.S.
institutional market on 9 April 2013. The bonds will pay a fixed coupon of 2.7%. This increase ispartly compensated by lower liabilities to financial institutions (-165 M €).
Other non-current liabilities, comprising “Non-current other financial liabilities”, “Non-current
other liabilities” and “Non-current deferred income”, decrease in total by -7 M € to 18,187 M €(prior year-end: 18,194 M €). The negative fair values of financial instruments decrease by-488 M € whereas advance payments received increase by +344 M € and government refundable
advances by +157 M €, particularly in Airbus (+114 M€) and Eurocopter (+43 M€).

Current liabilities
Current provisions decrease by -716 M € to 5,323 M € (prior year-end adjusted: 6,039 M €) andcomprise the current portions of pensions (406 M €) and of other provisions (4,917 M €) including

16

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 201385 M € of restructuring provisions (see above). The decrease mainly linked to the A400M Programon which inventories are presented net of the respective portion of the contract loss provision.
Short-term financing liabilities increase by +372 M € to 1,645 M € (prior year-end: 1,273 M €),mainly due to transactions related to repo agreements (short-term cash collection) and to financial
institutions partly compensated by lower liabilities from the commercial paper programme.
Trade liabilities increase by +451 M € to 10,372 M € (prior year-end adjusted: 9,921 M €), mainly
at Airbus (+476 M €).
Other current liabilities include “Current other financial liabilities”, “Current other liabilities” and“Current deferred income”. They decrease by -333 M € to 30,625 M € (prior year-end adjusted:
30,958 M €), mainly due to a decrease of the current portion of negative fair values of financial
instruments (-549 M €).
8. Significant cash flow items
Cash provided by operating activities decreases by -1,909 M € to +1,931 M € (2012:+3,840 M €). Gross cash flow from operations (before changes in other operating assets andliabilities) of +4,095 M € increases compared to the prior period’s level (2012: +3,916 M €).
Changes in other operating assets and liabilities amount to -2,164 M € (2012: -76 M €), mainlyreflecting an increase in inventories due to a ramp-up for new programmes at Airbus andEurocopter partly compensated by higher trade liabilities, mainly at Airbus.
Cash (used for) investing activities amounts to -1,742 M € (2012: -26 M €). This mainlycomprises purchases of intangible assets and property, plant and equipment of -2,949 M € (2012:-3,270 M €) (mainly in Airbus) and payments for investments in associates and other investments
and long-term financial assets of -292 M € (2012: -328 M €), partly balanced by changes insecurities of +1,272 M € (2012: +3,422 M €).
Cash (used for) financing activities decreases by -703 M € to -1,068 M € (2012: -365 M €). This
mainly comprises changes in treasury shares of -1,915 M € (2012: -5 M €) following the share buyback program and a cash distribution to shareholders of -467 M € (2012: -369 M €), partly
compensated by changes in long-term and short-term financing liabilities of +1,145 M € (pleaserefer to Note 7 “Significant items of the statement of financial positions”) (2012: -125 M €) and bychanges in capital and non-controlling interests of +171 M € (2012: +144 M €), mainly due to theexercise of stock options and the issuance of shares for 2013 Employee Stock Ownership Plan.

9. Number of shares
The total number of shares issued is 783,157,635 and 827,367,945 as of 31 December 2013 and2012, respectively. The decrease is mainly caused by the share buy-back programme comprising
50,748,348 shares in 2013. EADS’ shares are exclusively ordinary shares with a par value of
1.00 €.
During the year 2013, the number of treasury stock held by EADS decreased from 5,226,305 as of
31 December 2012 to 2,835,121 as of 31 December 2013. Shares in the amount of 52,280,691
were bought back from the market, while 53,197,232 shares have been already cancelled in 2013.
In 2013, EADS issued 8,986,922 new shares due to the exercise of stock options and due to the2013 Employee Share Ownership Plan (“ESOP”) (in 2012: 7,438,887 new shares).

1726.02.2014

EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Besides the annual ESOP, a free share plan was implemented during the third quarter due to the
new shareholding structure and governance of the Group. Each eligible employee was granted ten
free shares in EADS resulting in a distribution of 1,461,540 shares in November 2013. Suchshares were bought from the market and therefore had no impact on the issued share capital.

10. Earnings per share
Basic earnings per share are calculated by dividing profit for the period attributable to equity
owners of the parent (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 to
31 December
2013

1 January to
31 December
2012

Net income attributable to equity owners of the parent*)

1,465 M €1,197 M €Weighted average number of ordinary shares outstanding

792,466,862

819,378,264

1.85 €

1.46 €

Basic earnings per share*)*) Previous year’s figures are adjusted due to revised IAS 19.

For calculation of the diluted earnings per share, the weighted average number of ordinary
shares is adjusted to assume 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 2009 to 2012.Since in
th
th
th
th
2013 the average price of EADS shares exceeded the exercise price of the 5 , 6 , 7 and 8ththth
stock option plan as well as the share-settled performance units (in 2012: the 5 , 6 and 8 stock
option plan), 1,660,950 potential shares (in 2012: 1,173,667 shares) were considered in thecalculation of diluted earnings per share.
1 January to
31 December
2013
Net income attributable to equity owners of the parent*)
Weighted average number of ordinary shares outstanding(diluted)
Diluted earnings per share*)

1 January to
31 December
2012

1,465 M €1,197 M €794,127,812

820,551,931

1.84 €

1.46 €*) Previous year’s figures are adjusted due to revised IAS 19.

11. Related party transactions
On 5 December 2012, EADS had announced that their Board of Directors and core shareholders
had agreed on a far-reaching change of the company’s shareholding structure and governance.
This agreement aimed at normalising and simplifying the governance of EADS while securing ashareholding structure that allows France, Germany and Spain to protect their legitimate strategic

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

interests. On 27 March 2013, the shareholders approved in an Extraordinary General Meeting all
resolutions that were required to authorize the Completion (“Consummation”) of the Multiparty
Agreement announced on 5 December 2012. On 2 April 2013, the Completion (“Consummation”)
of the Multiparty Agreement occurred, following the authorization by the shareholders. Previously
existing shareholder agreements were terminated. From this date onwards EADS considers thatgovernmental shareholders are not meeting the definition of a related party under IAS 24.

Before 2 April 2013, transactions with related parties included the French government, Daimler
AG, Lagardère group and the Spanish government (SEPI) and its related entities. The Group hasentered into various transactions with related entities that have all been carried out in the normal
course of business.

12. Number of employees
The number of employees as at 31 December 2013 is 144,061 as compared to 140,405 as at
31 December 2012.

13. Litigation and claims
EADS 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, EADS is not aware of any material governmental, legal or arbitration proceedings (including
any such proceedings which are pending or threatened), during a period covering at least theprevious twelve months which may have, or have had in the recent past significant effects on
EADS N.V.’s or the Group’s financial position or profitability.

WTO
Although EADS is not a party, EADS 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 a parallel WTO case against the US in relation to its subsidies
to Boeing.
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. The EU has cited the failure by the US to implement
the findings prior to the due date of 23 September 2012 in commencing a new proceeding on theadequacy of US compliance.

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

Exact timing of further steps in the WTO litigation process is subject to further rulings and tonegotiations between the US and the EU. Unless a settlement, which is currently not underdiscussion, 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 foralleged breaches of market regulations and insider trading rules with respect primarily to the A380
delays announced in 2006, proceedings initiated in other jurisdictions have also been terminated.
Nevertheless, following criminal complaints filed by several shareholders in 2006 (including civil
claims for damages), a French investigating judge carried out an investigation based on the samefacts. In November 2013 the investigating judge decided to send the case to trial (renvoi devant letribunal correctionnel) against 7 current and former executives that exercised their stock options inMarch 2006 and the two core shareholders. All other parties will not stand trial.

CNIM
On 30 July 2010, Constructions Industrielles de la Méditerrannée (“CNIM”) brought an action
against EADS and certain of its subsidiaries before the commercial court of Paris, alleging anticompetitive practices, breach of long-term contractual relationships and improper termination ofpre-contractual discussions. CNIM is seeking approximately € 115 million in damages on a joint
and several basis. On 12 January 2012, the court rejected all of CNIM’s claims, following which
CNIM filed for appeal. While preparing appeal, CNIM offered to withdraw its claims in exchange for
the Airbus Group withdrawing their claims. On 5 December 2013, the Court took note of thedismissal of CNIM and its acceptance by the defendants, thereby declaring the case closed.

GPT
Prompted by a whistleblower’s allegations, the Company has conducted internal audits andcommissioned an external investigation relating to GPT Special Project Management Ltd. (“GPT”),
a subsidiary that EADS acquired in 2007. The allegations called into question a service contract
entered into by GPT prior to its acquisition by EADS, relating to activities conducted by GPT in
Saudi Arabia. Following the allegations, EADS conducted comprehensive internal audits in 2010that did not detect any violations of law. The UK Serious Fraud Office (the “SFO”) subsequently
commenced a review of the matter. In 2011, EADS retained PricewaterhouseCoopers (“PwC”) to
conduct an independent review, the scope of which was agreed with the SFO. In the period underreview and based on the work it undertook, nothing came to PwC’s attention to suggest that
improper payments were made by GPT. Further, the review did not find evidence to suggest thatGPT or through GPT, any other Group company, asked specific third parties to make improper
payments on their behalves. The PwC review was conducted between November 2011 andMarch 2012, and a copy of its report was provided by EADS to the SFO in March 2012.
Separately, in August 2012, the SFO announced that it had opened a formal criminal investigation
into the matter. EADS is cooperating fully with this investigation.

Eurofighter Austria

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EADS N.V. (Airbus Group)
Unaudited Condensed IFRS Consolidated Financial Information for the year ended 31 December 2013

In March 2012, the German public prosecutor, following a request for assistance by the Austrian
public prosecutor, launched a criminal investigation into alleged bribery, tax evasion and breach oftrust by current and former employees of EADS Deutschland GmbH and Eurofighter Jagdflugzeug
GmbH as well as by third parties relating to the sale of Eurofighter aircraft to Austria in 2003.
EADS is cooperating fully with this investigation and has also engaged external legal counsel toconduct an independent review of the matter.
Commercial disputes
In May 2013, the Group has been notified of a commercial dispute following the decision taken by
the Group to cease 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 this dispute and the potential outcome of any future
procedures to be initiated by the parties cannot be assessed at this stage.
In the course of another commercial dispute, the Group has received in the third quarter 2013 astatement of claim alleging liability for refunding 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 whichgoes back many years ago should be dismissed in principle. As always, the outcome of a legal
proceeding is uncertain.
14. Subsequent events
On 2 January 2014, the Group has been rebranded as “Airbus Group”. The rebranding is the firststep of the reorganization under which the Group reduces its number of Divisions from formerly
four to three Divisions and also renames two: i) Airbus (focussing on commercial aircraft activities);ii) Airbus Defence and Space (integrating the Group’s defence and space activities from
Cassidian, Astrium, and Airbus Military); and iii) Airbus Helicopters (comprising all commercial andmilitary helicopter activities).
The Company’s legal name change into Airbus Group N.V. shall be submitted to the Company’s
Annual General Meeting of Shareholders scheduled for end of May 2014. The Company’s
subsidiaries may change their legal names in line with the Group’s rebranding.
On 21 January 2014, Airbus Group signed an agreement with Astronics Corporation to sell
substantially all of the assets and liabilities of its EADS North America Test and Services (“EADS
NA T&S”) business located in Irvine, California. EADS NA T&S is a provider of highly engineered
automatic test systems, subsystems and instruments for the semi-conductor, consumer
electronics, commercial aerospace and defense industries. The closing of the transaction is yet
subject to approval by the US antitrust authorities (Hart-Scott-Rodino Act).

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