Airbus 2014 Annual Report Download - page 22
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Please find page 22 of the 2014 Airbus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Our company continues to advance apace.
A group-wide rebranding under the Airbus
name; a restructuring at the newly formed
Defence and Space Division; a comprehensive
review of the Group’s defence and space
business portfolio, followed by real measures
taken to refocus on the company’s core
strengths: these are just some highlights from a
remarkable list of strategic advances in 2014.
Important milestones achieved in our business-
es show that management has a good handle
on operations: the first delivery of the all-new
A350 XWB before the end of the year, as
planned, the maiden flight of the A320neo, also
on time, and first deliveries of the all-new H175
and upgraded H145 and H135 helicopters all
spring to mind, even if programme develop-
ment remains a constant challenge of this
industry like no other. That is why, despite
the A400M’s persistent difficulties, the Group’s
financial results underscore an improved oper-
ational performance, thanks also to a strong
order book supported by a very solid perfor-
mance in new order intakes.
The Airbus Group Board of Directors can be
justly proud of these outcomes, positioning
itself as a constructive sparring partner for the
management, and focusing on long-term value
of the Group, excellence in risk mitigation, and
thus shareholders’ interest.
Major decisions taken this year, such as those to
divest non-core activities and to sell down the
participation in Dassault Aviation, reflect this
concern of applying our efforts, resources and
capital where we, as a company, make a sub-
stantial difference to our market and to our in-
dustry. In a fast-changing environment, the deci-
sion to enter into a strategic joint venture with
Safran for launcher activities, and a new founda-
tion for Ariane 6, show our determination to be,
again, the defining actor of our sector, at the fore-
front of innovation. I am convinced that Airbus
Group will be stronger as a result of such agility.
The Board supports the efficient approach to
developments that the A330neo exemplifies,
bringing value to the Group by injecting new life
SUSTAINABLE
SUCCESS
LETTER FROM DENIS RANQUE
CHAIRMAN OF THE BOARD
Denis Ranque
Chairman of the Board
We remain
committed to
shareholder value
Dear Shareholders, Dear Stakeholders,
is one of openness to build on the diversity of
strengths and characters. By becoming an SE,
Airbus Group signals its commitment to inter-
national cooperation for the years to come,
taking the European "togetherness" beyond the
borders of this continent.
Your company's Board lives that spirit, which
takes its source in its international composition
and in the depth and breadth of industrial expe-
rience its members bring to the table. In terms
of gender diversity it is also embarking on a
path of continuous progress, in 2015 and over
the next two years, as we replace departing
directors.
into an established, popular and profitable
product, focusing on the value proposition to
customers and targeting the sweet spot of their
requirements. The orders already booked since
the programme was launched prove the point.
In 2014, the Board of Directors monitored the
technical and commercial progress of key
programmes, such as the A350 XWB, A400M,
A380 and Super Puma. During two off-site
Board meetings, at Airbus Helicopters in
Marignane and at Airbus in Toulouse, the Board
took the opportunity to review their ongoing
transformation and to focus on their key
strategic levers.
The Board also devoted its attention to the
Group’s financial results and forecasts, supply
chain challenges, efficiency initiatives, compli-
ance in business processes, litigation risks and
many other pressing matters.
We remain committed to shareholder value, as
a mission of gratitude to our faithful investors,
but also because it constitutes the best soil
for sustainable leadership and success. The
evolu tion of the dividend is clear evidence of
that. The current proposal of €1.20 per share
represents a 60% increase on the previous
year, at the top end of the range established in
the Group’s payout policy, mirroring the im-
provement of the company’s earnings per
share, and expressing confidence in the oppor-
tunities that lie ahead.
Another important and symbolic proposal put
to the vote of our shareowners at this AGM is
the conversion from our present legal form into
a European Company (Societas Europaea or
SE). The change will have no bearing on the
day-to-day running of the Company; it will not
materially affect the governance and will not
even involve a change in the company’s statut-
ory registration in the Netherlands. Neverthe-
less it is a matter which is close to our hearts,
as it brandishes the European values that are
such a factor in our success: cross-pollination
and transcending borders are at the core of
Airbus Group’s DNA. The company’s workforce
is quite international and the prevailing mindset
ANNUAL REVIEW 2014
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02 PILOTING EFFICIENCY